DBL launching internet banking
April 14, 2007
Demerara Bank Limited (DBL) will on Monday launch its internet banking or EBanking Service and its customers will be able to review and pay bills, apply for credit and transfer funds, according to a press release from the bank.
Demerara Bank is set to become the first institution in the country to offer this service and the bank was also the first to launch Real Time ATMs and POS transactions, said the release.
According to information from the bank, internet banking is usually conducted through a computer that connects to a banking website and it is said to be speedy, safe and convenient, since the bank comes to the customer instead of the reverse.
This banking process is considered highly competitive and is accessible 24 hours a day from the customer's office or residence.
At ebanking.demerarabank.com, the bank said customers would be able to view balances, view activity up to the last 45 days, effect inter account transfers, pay GT&T, Digicel and GPL bills, request bank drafts, request certified statements, request change of address and make stop payment requests.
"It meets customer demands for both convenience and financial independence," said the bank's release, adding that, "in a country like Guyana where crimes related to cash is a major concern, it will help to reduce such risk and achieve the goal of a cashless society in the future."
Payment for the various utilities can be made online without any additional cost.
"In a country like Guyana where crimes related to cash is a major concern, it will help to reduce such risk and achieve the goal of a cashless society in the future", the bank said.
Through the integration of the bank's website, internet banking customers are expected to see important news and promotions that will create cross-selling opportunities that may have otherwise been missed.
The advantages to the customer includes account balances and history, including year-to-date information; cross-account fund transfers; scheduled transfers; checking of history up to the last 45 days, inquiry, images, withdrawals, reorders, and stop payments; credit card and statement imaging; online loan payments and initiating loan applications.
In relation to protecting one's privacy, the release said, a financial institution may want to share information on the customer to help market products specific to the customer's needs and interests, for example selling life insurance. In addition, when one does banking via the internet personal and financial information may be shared with others. The customers, said the release, have the right to tell the bank not to share their personal information with others, without their consent.
And when the service is launched there are some security tips that customers using internet banking can use to protect their personal information.
For example, customers must ensure that they are on the right website, since imposters can have websites with similar names to trick unsuspecting consumers. When possible a mix of letters and numbers can be used for added safety or change passwords regularly. The customer's password or PIN should be kept to themselves and they should avoid easy-to-guess passwords.
Customers are also advised to check debit and credit card statements thoroughly every month and keep good records and report errors or problems. There should also be up-to-date virus protection software.
Recent years have seen intense competition and expansion in the banking industry.