New online banking system founders announced by Finance News Bulletin

Published: 23/02/07

The 13 monetary services providers involved in the creation of a new near banking system have been officially announced, in news that may have broader implications for the prospect of online banking All of the traditional large four banks - HSBC, Barclays, Lloyds TSB and regal Bank of Scotland group - have signed up to the online banking systemNorthern Rock, Nationwide Building Society, National Australia Group, HBOS, Danske Bank, helpful Bank, Citibank, Alliance and Leicester and Abbey complete the catalog of monetary services providers involvedThe new centralised system, which is set to launch in November 2007, aims to pace up the process of making payments and arranging standing instructions over the internet

"This repair will be great for any customer wanting to move money rapidly - perhaps to pay a bill or move cash between accounts," commented Paul Smee, chief executive of UK payments association ApacsTypically, customers who wish to employ online banking amenities must register with the financial services provider beforehand and propose a password to ensure the security of their banking agreementMajority of over-45s use price comparison websites, virtual banking report indicates - Fri, 09 Feb 2007awful customer services motivates populace to switch banking accounts, study suggests - Mon, 29 Jan 2007HSBC reveals a million internet banking clientele have turned backs on paper - get married, 17 Jan 2007New online

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