Magazine article American Banker

Bank One and Southeast Bank Offer Video Banking through CompuServe

Magazine article American Banker

Bank One and Southeast Bank Offer Video Banking through CompuServe

Article excerpt

NEW YORK -- Two more banks have gone on the CompuServe network with a video banking service -- Bank One, Columbus, Ohio, and Southeast Bank, Miami.

In both cases, VideoFinancial Services of America, Dallas, is providing the software and transaction processing.

For Bank One, it is the first entry into a full bank-at-home service, although in 1980 it ran one of the early tests. Its holding company -- Banc One Corp. -- said all 20 affiliated banks in Ohio willoffer its remote banking product, called Applause, within 90 days.

Southeast Bank also is a pioneer in the field as the leading bank in the Viewtron service inaugurated in southern Florida in November 1983. It now becomes the third institution to offer video banking simultaneously via viewtron and CompuServe. The others are NCNB National Bank, Charlotte, N.C., and PSFS, Philadelphia.

Customers must be subscribers to the CompuServe Information Service to access either bank on that network. Bank One at the outset is charging nothing avobe the CompuServe connect-time levies. It said a sign-up fee and monthly fees will go into effect next April.

Southeast has an unusual pricing arrangement of $6 a month for each account that the customer wants to pay bills from, which probably means most will select only one checking or savings account for such payments.

Altogether, seven banking organizations now offer video banking via CompuServe. Besides NCNB and PSFS, the others are Shawmut Corp. for its 12 banks in Massachusetts; United American Bank, Memphis; and Huntington National Bank, Columbus, Ohio.

CompuServe is open to any computer or terminal that runs the ASCII text-only protocol. Banking customers do not require special software. There are four levels of security: A user enters his CompuServe account number and password to get onto the network, then his bank identification number and a bank password to get into his accounts.

Southeast, which has 165 offices throughout Florida, says customers can do more than 60 types of transactions. …

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