Banking Over the Internet

Abstract

Banking over the Internet is attracting a great deal of attention in the banking and regulatory communities, and developments in this new delivery channel are the subject of numerous articles in the banking press. Despite widespread interest in and concerns about this subject, there is little systematic information on how many banks offer personal computer (PC) banking over the Internet, and on the nature of the services offered. To address this deficiency, the Special Studies staff at the Office of the Comptroller of the Currency (OCC) has undertaken a comprehensive review of Web sites of banks offering transactional Internet banking. We define “transactional” Internet banking as providing customers the ability to access their accounts and, at a minimum, transfer funds between accounts. This report provides new and unique information on the dimensions of transactional Internet banking, both in the commercial banking industry in total and for national banks.