Cash Management Services

Cash Management Services - Cash Management Service 1 Cash...

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Cash Management Service 1 Cash Management Service William Edwards HCA/270 July 3, 2011
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Cash Management Service 2 The World Wide Web has brought forth a plethora of opportunity for banks across the world. The growth of online banking has gone up 80% since 1994 and continues to grow. According to, what is online banking? “Worldwide, more than 100 million households now bank online. Looking ahead, usage is projected to increase to 50+ million in U.S. households. Worldwide, the total is expected to triple to 300 million or more households.” (What is Online Banking?, 2003) Internet banking gives a new freedom to banks that they never had before. It also gives them the opportunity to market to all individuals in there target groups as well as those who were not. They can sell new products and offer people more convenience that they never had before. The conveniences aid in customer retention and accrual. Online banking also allows for banks to become more eco-friendly and pretty much go paperless when it comes to customer interactions. Since everything is done online there is not need for physical receipts, slips, or statements. Everything can be pulled up at anytime for the customer or by the customer. Online banking offers both businesses and consumers alike the convenience of time. To both businesses and consumers time is money. Having direct access to their accounts without the worry of banking hours or holiday schedules to interfere is the best asset that online banking offers. The client has the ability to do almost anything to their account from a online standpoint; like transferring of funds from one account to another, paying bills, checking account balances, and look at the history of their account. The only thing they can’t do is make deposits from their computer, though Chase Bank is now offering a new service with the use of smart phones. You simply take a picture of the front and back of a check and send it to the bank via email. Once the bank receives the
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Cash Management Services - Cash Management Service 1 Cash...

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