Online Banking: Is it in Your Clients' Future?

Many accounting professionals have used the Internet to conduct business with the IRS and other organizations for some time, but may have held off their support of online banking for their clients because of security issues.

A new survey reveals Americans remain, for the most part, skeptical of online banking. The survey, conducted by the Angus Reid Group and the Royal Bank of Canada, found that only 21 percent of American respondents said they would be 'very likely' to bank online within the next year.

This compares negatively to other countries, such as South Africa and Germany, where responses were over 40 percent for the same response.

Analysts connected with the survey believe the low numbers from Americans indicate a competitive environment in which U.S. citizens are presented with multiple options. However, the survey also revealed that once a person tries banking online, s(he) also is likely to continue online banking.

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