December 7, 2004 |
For the first time, Americans' use of credit cards, debit cards and other electronic bill paying has eclipsed paper checks. The number of electronic payment transactions last year totaled 44.5 billion -- exceeding the number of checks paid, 36.7 billion -- according to Federal Reserve studies released Monday. That's a first, the Fed said.
November 17, 2003 |
These are cynical times, and journalists are a cynical bunch. But that's no reason not to give proper credit to a large corporation -- indeed, pretty much to an entire industry --that figures out how to do right by consumers while doing right by itself. This thought occurred to me a few weeks ago while I was reviewing my Bank of America checking account via the bank's Web site.
July 25, 2001 |
Visa USA and four major banks took direct aim at the check-cashing industry Tuesday by rolling out a prepaid card that can replace paychecks for workers who don't have bank accounts. Employers can "deposit" employee wages onto the cards, and workers can then use the plastic to withdraw cash at automated teller machines, pay for purchases at stores that accept Visa credit cards and even pay certain bills, said Nizam Antoo, Visa's product manager for the card.
June 29, 2001 |
WingspanBank.com, the Internet-only bank that Bank One Corp. opened two years ago "with the promise of revolutionizing the way people manage their finances," is shutting its virtual doors. Chicago-based Bank One, the No. 5 U.S. bank, said Thursday it will close Wingspan after mid-September to cut its "substantial expense." Spokesman Thomas Kelly wouldn't quantify the expected savings. He said customers were notified by e-mail that their 225,000 accounts will be shifted to Bankone.
November 2, 2000 |
Two of the biggest banks in America and IBM Corp. are setting up a new, electronic processing system that could greatly reduce bank costs in handling paper checks. The system, known as Viewpointe Archive Services, also will make it possible for consumers to get copies of their checks from Web sites and automated teller machines maintained by banks. The system--launched by Bank of America Corp., headquartered in Charlotte, N.C.
August 14, 2000 |
With a population smaller than Greater Los Angeles, Finland leads the world in electronic banking, surpassing such financial powerhouses as the United States, Germany and Japan. But by embracing technology to bridge the vast distances across which Finland's 5.4 million residents are scattered, a Nordic banking consortium has sprinted ahead of the big players and set a standard for service and security that more weighty competitors will need years to match.