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Online Banking: Is the Convenience Worth the Price?

HAVE YOU EVER THOUGHT of becoming a bank teller? If you use telephone banking or ATMs, you already do some of the work once the domain of tellers. Now two Twin Cities banks, Marquette and Norwest allow consumers to bank via personal computer -- and more Minnesota banks are expected to offer the service.

Customers can dial into the banks' computer systems and do virtually ALL their banking at home AND automate the tedious tasks of reconciling accounts, balancing checkbooks, paying bills, and transferring money. PC banking is cheaper for banks as well, but many charge a fee for the service. Some in the industry say that's why PC banking has been slow to take off.

Minnesota Public Radio report Bill Catlin explores banking online in a story broadcast on MPR news and information stations August 5, 1996.

Transcript of the story
Banking from Home
Benefits for Banks
Consumers Paying Increasing Fees
Links Relating to the Story

Audio files of the story
Shockwave for 14.4 kbps connections (streaming audio)
Shockwave for 28.8 kbps connections (streaming audio)
Next/Sun .au (downloadable audio, 6.5 mb, HELP)

Links for further exploration

LET US KNOW WHAT YOU THINK of this first effort by MPR to combine broadcast and online reporting. We welcome comments about the story as well as your personal or professional thoughts about online banking.

Email them to: mail@mpr.org. (Your submissions may be posted within MPR Online.)

Audience responses are currently available.

For more on personal financial management, visit MPR's Sound Money. You'll find money-stretching tips, a money management advice column, features on a host of consumer-oriented subjects, and more -- all regularly updated.