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Transformation of Banking: From PC to Internet and now in TV

May 6, 2013, by , under Innovation

TV Banking

TV Banking

The Television Banking enables customers to conduct banking business with television and TV set-top box as the terminal and remote control for the operational tool based on the cable TV broadband network. Compared with online banking, television banking is closer to the life of everyone.

Customers of television banking do not need to purchase a computer or bear the internet “jam”; compared with telephone banking, television banking has a more direct trading interface and all-inclusive information display. Television banking enables customers to complete banking transactions through the television, have access to financial products and industry information, and experience a more fashionable and convenient wealth management approach.

Currently, ABC, BOC, CCB and a number of their financial institution have launched television banking services based on digital television. With this service, customers can enjoy such financial services as bank card transfer, inquiry and bill payment.

Television banking has become another self-service channel following online banking, telephone banking. Mobile banking and ATM. The television banking is still in its initial stage and has a limited number of customers; however, it will have plenty of room for development with the help and promotion or digital television technology.

Digital Sky TV subscribers can bank via their TV if they are HSBC customers – they are the only providers of TV banking at present. By pressing the ‘Interactive’ button on the sky remote, you can access the HSBC banking page (after going through the right navigation channels) and access a range od service information.

In addition, after registering to use the service, you can view your balance, transfer money between HSBC accounts in your own name, pay bills and make changes such as cancelling standing orders/direct debits/cheques.

For you to access your account your sky TV

Box must be connecting to the telephone system (usually connected when Sky TV is installed). If the connection is broken or damaged, the customer will not be able to access their account. You will be charged a fee to access your account via the TV; charged by the minute.


i) 24 hour, 7 day a week access

ii) No need to queue as you would at a bank disadvantages.

iii) Limited use of your account compared to other methods.

iv) Costs are incurred when accessing your account (charged at local rate)

v) There is no personal interaction between yourself and the bank (employee/advisor)

vi) You cannot deposit physical cash using TV banking i.e. cheques, cash in hand. This would require a personal visit to the bank.

vii) If your Sky TV system fails t function, you cannot access TV banking.

viii) HSBC is the only provider out of the high street banks. However, some internet banks allow customers to bank via TV.

Internet Banking

Every major bank has an on-line presence where information about services can be obtained. However, internet banking goes one step further allowing a customer to access their account/personal details. Just about every major bank offers an internet banking service but you will have to register which may or may not incur charges (depending on your bank). Usually, it is free to register for personal internet banking but there may be a cost for business internet banking.

Security is set up which usually consists of a unique number/password issued by your bank and a 6-10 digit number set up by yourself. The security procedure will vary between banks.

It transferring money on-line, usually the money will be transferred over-night if being transferred to an account within the same bank. However, if you are transferring money to an external account, it can usually take over three working days to transfer.


i) 24 hour, 7 days a week access.

ii) No need to queue as you would at a bank.

iii) You can access your account at any computer with Internet access.

iv) Security is integrated

v) Application for a majority of popular services can be made on-line i.e. loans, savings accounts, mortgages etc.


i) You pay for internet connection costs when using the service

ii) If your internet connection fails to function, you cannot access Internet banking.

iii) There is no personal interaction between yourself and the bank (employee/advisor)

iv) Internet Banking can be slow with56k modem.

v) You cannot deposit physical cash using Internet banking i.e. cheques, cash in hand. This would be requiring a personal visit to the bank.

vi) You still have to visit the bank to obtain cash floats and/or use an ATM machine to withdraw cash.

PC Banking:

PC banking is similar to internet banking. The main difference is that you do not use the Internet to access your account. Instead, from your PC, you connect directly to the bank’s intranet using specialist software, modem and existing telephone line. In general, PC banking allows you to perform the same degree of functionality as Internet banking. However, PC banking is potentially faster than Internet banking and offers increases security. Therefore allowing you to access more services. Again, not all banks offer PC banking. A free may also be paid to use the service. Consult your bank for more information.


i) 24 hour, 7 day a week access.

ii) No need to queue as you would at a bank.

iii) A higher level of security compared to internet banking.

iv) Potentially, more services can be accessed due to increases security.


i) There is no personal interaction between yourself and the bank. (employee/advisor)

ii) You can only access your account from the PC that you originally installed the software.

iii) You cannot deposit physical cash using internet banking i.e. cheques, cash in hand. This would require a personal visit to the bank.

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