Large Banks Lag in Online Transactions

More customers are turning to online banking, but it's not the largest banks that are leading the charge, according to a new report from Credit Suisse First Boston Corp.

Two regional banks - Winston-Salem, N.C.-based Wachovia Corp. and Provident Financial Group Inc. in Cincinnati - have the largest percentage of their customer bases using their online services, 21% and 17%, respectively.

Of the top 100 banks in the U.S., 80% offer online banking, and many others say they will start this year, said the report's author, James Marks.

Wachovia recently became one of a handful of U.S. banks to announce it will make wireless banking available to its customers.

According to analyst Linda Alt at Gartner Group Inc. in Connecticut another service that may soon start driving customers to online banking is online bill presentment, which isn't available from many billers.

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