The First to Offer Online Access Celebrates 10 years
Wells Fargo Bank, the first financial institution to introduce access to banking accounts on the Web, is celebrating the 10th anniversary of that event in a big way: the bank is offering 10 prizes of $10,000 each to its online customers.
For much of June and July, each time a customer accesses his or her account online to conduct a transaction, his or her name will be entered into a drawing.
The bank also recently released findings of a study it conducted on how people are now using their online accounts and how they feel about them. It found that:
- 82 percent of respondents said online banking allows them to check account balances and transaction details more often than when they first started using the service
- 62 percent say they pay more bills electronically than previously
- Nearly 20 percent more consumers are viewing several of their bills at their bank's site
- 60 percent said Internet banking saves time
- 53 percent said online banking allows them to manage their finances when, where, and how they want
- 92 percent of those surveyed said they were "very" or "somewhat likely" to recommend online banking to a family member.
Copyright © 2005 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 15, No. 7, 7/05
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