Home banking is something everyone banks and their customers seems to be in favour of. Most people don't like having to interact with a real-life bank teller or bank manager. Even if there's a hurricane blowing outside, the majority would rather queue at the ATM machine and get drenched, rather than go inside and write a cheque. The banks, of course, are delighted. If they can dispense with the human element, they can cut costs and stay competitive in what's become a dog-eat-dog financial market. Hence the current proliferation of computer-based home banking services.
In the UK, the Royal Bank of Scotland started the ball rolling back in 1988 with their HOBS system. In those days, home PCs weren't as common (or as cheap) as they are now, so the bank supplied customers with a tacky little terminal a sort of Minitel lookalike to access the service. Now, however, most people go in on a conventional PC and modem setup. The software, which now runs under Windows, comes gratis for RBS customers. The only disadvantage is that you can only access transaction records that were completed on the previous day of business.
HOBS allows users to log directly into the Royal Bank's central
computer via a local telephone call. Once in, you're able do everything
you can with a normal bank account: check your cashflow, pay bills
and set up standing orders, for example. Virtually the only thing
you can't do is physically suck money down the 'phone line. However,
once the concept of the 'rechargeable' cash card, like the Mondex,
becomes more accepted, this will no doubt change, too.