Internet banking facilitates customers in banking
Internet banking facilitates customers in banking
By I. Christianto
JAKARTA (JP): Some people are reluctant to visit banks due to
such reasons as long queues or fronting up to unprofessional
tellers. Well, they can now enjoy carrying out transactions
through the Internet from their home PCs.
Online banking has been here for a while, though only few of
us may have made use of it.
This service, also known as Internet banking or electronic-
banking (e-banking) enables customers to complete transactions
through cyberspace around the clock. Some Indonesian banks are
running their websites with transactional capacity, allowing
customers to conduct true online banking transactions.
Anyone having accounts with the prepared banks can make real-
time balance inquiries, view their transaction history for the
last two months, transfer money or make payments to their credit
cards. They will no longer have to wait for the monthly statement
to be mailed out.
Indonesian banks operating this facility include Bank
Internasional Indonesia (BII) and Lippo Bank.
Other banks in the country planning to run this service
include Bank Danamon, BCA, Bank Niaga and Bank Mandiri. More
banks will likely follow this trend as customers always seek more
convenient ways in a world full of hybrid, cyber activities.
Customers can also open a savings account and transfer funds
from one account to the other online. Holders of credit card
issued by the banks can also check their statements.
When available, hopefully in a near future, customers will be
able to obtain loans from banks without having to visit to a
branch.
Customers can also pay their bills. A bank's online service
usually offer customers certain bill payment powers.
But, most people are concerned about security. Is it really
secure to use online banking?
BII has taken steps to minimize the risk of information passed
being stolen by any unwanted party. The bank applies an advanced
encryption technique to make sure that no other party can steal
the flowed data. As well, BII uses digital ID certificate/128-bit
encryption.
Advanced encryption techniques is a must to make sure that no
unauthorized people can access any data when browsing.
Usually, there are so-called Firewalls protecting the
internal networks from the Internet. A Firewall is a system of
servers that stand between the internal network and the Internet.
Internet banking relies greatly on other infrastructures,
namely telephone lines, computer literacy and Internet density.
Fixed-telephone lines in Indonesia total 6.08 million, or only
three lines to every 100 people nationwide. The figure is better
in Jakarta and Bandung (approximately 30 lines per 100). There
are some 2.2 million mobile cellular user in Indonesia.
By the end of last year, Internet subscribers amounted 210,000
with one million users. The figure is estimated to reach 390,000
with 1.4 million users by the end of this year and 500,000
subscribers with two million users in 2001.
There are about 50 Internet service providers in the country,
covering some 100 cities in 26 provinces.
Meanwhile, the PC population was three million by last year.
With multimedia infrastructure project plans in several big
cities in Indonesia, the number of Internet users is predicted to
increase significantly, therefore, Internet banking here will
also see a brighter future.
Tips
Byber banking no doubt offers ease and convenience, but
customers still need to be careful, particularly in conducting
electronic payments.
Don't give your checking or savings account numbers, personal
identification number (PIN) or user ID or anybody else,
especially over the phone.
Don't write your PIN number or User ID on your notes or carry
them in your wallet or purse. Funds can be stolen from your
account by anyone who has the information.
Complete any transaction on the PC and never let others take a
look or leave the PC on without you being there. This situation
invites con artists and illegitimate businesses to access your
account.
Be sure to read and reread all direction and agreements before
you agree on them.
MPX advises that authorization for direct payments must be
made in writing, and must be signed by the customer or
authenticated by "digital signature" (digital signature refers to
authorization via computer using a secure password or code such
as an ATM PIN.) An electronic payment is fraudulent if the
company has not obtained such authorization.
Authorizations for direct payments should be readily
identifiable as authorizations. If the agreement you signed
contained electronic payment authorization obscurely or in fine
print, the authorization is invalid and the payment is in
question.
You must know the company you are doing business with and
making a copy of any transaction is always a good idea.