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Word Count: 595
Imagine banks without tellers desks brochures or ATMs Picture a virtual bank residing inside of a computer projected by images on a computer screen US financial institutions are moving towards virtual banking a strategy making bank services available to customers any time and place they need them Banks are offering more services as virtual banking becomes more popular while the number of traditional teller-staffed branches are declining Bank customers are moving away from traditional banking and becoming dependent on electronic transactions using ATMs and PCs Thanks to this technology financial institutions are using software programs online services and even the internet to allow customers to check balances pay bills and transfer funds among accounts Bankers promise that in the near future we will be able to buy certificates of deposit mutual funds other investments and even apply for loans electronically Many peoples best option is to plug into their bank through software Intuits Quicken Microsoft Money and Managing Your Money are the top home budgeting programs allowing users a way to harness their assets through their PC In order to use this software properly all a customer needs is a personal computer software and a modem On-screen instructions laden with colorful graphics and pictures explain how to select and work on various tasks The system automatically calculates and updates account balances and keeps records of bills By charging 5 to 20 a month for these services banks will cash in on the high-tech superhighwayInternet banking differs from traditional PC banking in several ways Banks have already set up home pages on the Internet to provide information to their existing and potential customers about upcoming services In most home banking ventures the bank sends application software to the customer The customer then dials into the bank using their modem downloads and uploads data and runs the programs they previously installed on their computer sending back a batch of requests such as transfers between accounts
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