Economics Today & Tomorrow
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Chapter 14: Money and Banking
"The Internet — Bank on It"

Introduction
     An increasing number of Americans are using the Internet for research, shopping, connecting with friends, and entertainment. One of the more beneficial uses of the Internet may be online banking, or home banking, as people become more and more pushed by time. Being able to manage your finances from the comfort of your desktop makes banking easy and convenient. Bank of America, the United States' largest commercial bank, is developing a nationwide network of online banking. At its Web site, Bank of America discusses the advantages of home banking.

Destination Title: Bank of America Web site

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Directions
Start at the Bank of America Web site.

  • Click on the "Online Banking with Bill Pay" topic under "Account Services".
  • Choose your state from the drop-down menu, then browse through the site, taking notes as you go. Be sure to visit the "Demo" and "Frequently Asked Questions" topics under "Overview" during your research.
Read through the information, and then answer the following questions.
1. What do you need to get started banking online?


2. For the consumer, what are the advantages of banking online?


3. What customer services are available online?


4.  How does the bank ensure security?


5. Using your findings, create a pamphlet that Bank of America could use to encourage consumers to bank online.


 


 
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