Online banking has finally reached the well-off & seniors!

Internet banking is becoming increasingly widely used among seniors and the well-off, its no longer limited to the young and tech-savvy. Possibly because there is the  growing confidence that personal information is safe.

DBS reported that abt  53.5 % of its high-net-worth clients use Internet banking compared to about 40 %of retail customers- & that’s a lot!  Enhanced security is seen as the key to wooing more people over to Internet banking, which started at DBS in 1997. Its new Internet banking tokens, introduced in 2011, add an extra layer of security.

Instead of simply generating a one-time password, they require customers to enter details such as account numbers and the amount they want to transfer - a process which is called transaction signing. This is in line with industrywide guidelines requiring transaction signing for high-risk Internet banking transactions.

Having said all that, it's possibly everyone is  just tired of waiting in line & checking your account in the comfort of your own home , wins hands down...LOL.....