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Newton Male
Newton Male is Chairman of the Board of Prairie State Bank of Augusta, KS, with 12 branches in the Wichita area, a position he has held since 1983. He also currently serves as a Director for Western National Bank of Lenexa, KS and the First National Bank of Medicine Lodge, KS and Overland Park, KS. Previous positions held include two terms as Kansas State Bank Commissioner, President of Prairie State Bank, and Assistant Examiner for FDIC. Professional and community involvement comes second nature to Newton. Currently he is on Federal Affairs Committee of the Kansas Bankers Association, Director of Augusta Progress, Inc., and a member of the Augusta Historical Society and the Augusta Chamber of Commerce. In the past he has been very active with the Wichita Area Girl Scouts, Augusta School Board, Mayor of Augusta, Kansas House of Representatives, various positions with the Kansas Bankers Association, American Bankers Association, Butler County Community College Endowment Association, as well as Director positions with several other area banks. Newton has also done extensive work in Russia teaching Russian bankers how to deal with their banking crisis. This endeavor was sanctioned and performed in tandem with the Financial Services Volunteer Corps of New York and the US Agency for International Development. Newton can be contacted at the Prairie State Bank, 512 State Street, Augusta, KS 67010, by phone at (316) 775-5434, by fax at (316) 775-1790, or by e-mail at nmale@prairiestatebank.co
Banking & Finance
2001-09-01 10:54:00
On-line banking
Answer:  Internet banking can vary in sophistication from one institution to another.  The preponderance of banks do not have a fully active on-line banking system; they simply have a web-site.  However, the number of active systems is growing every day. You have asked how does it work.  The customer applies through their financial institution, either directly through the internet, in person, or by mail.   At that point, the financial institution will allow access.  The customer will have a log-on name or number and password that will enable them to gain entry into their accounts and obtain information. You went on to ask if you can do everything on-line.  With some institutions, it would be possible to do everything on-line, except services where a physical banking presence is required, i.e. safe deposit boxes. There are numerous banks that have no buildings (brick and mortar) because they do all of their business by computer.  These banks, where there is no customer personal access, are called virtual banks. In some cases, certain on-line lending capabilities are limited.  Some financial institutions, with just a web-site service, offer loan applications but do not offer the ability to view customer accounts or perform transactions.  For example, certain commercial loans vary so much in collateral. loan officer involvement is generally required.  On-line banking is secure.  The ability of the user to determine if they are on a secure site is the appearance of an "s" after "http" in the web address.   Internet banking sites are monitored by the respective regulators.  In addition, many financial institutions hire individuals to attempt to infiltrate their systems on a regular basis.  On-line sites are behind very secure firewalls.  Another security feature is the inability to perform transactions except between the accounts of the customer. This prohibits someone from transferring funds from an account unless they are an owner of the account.Convenience is the primary benefit of on-line banking.  The customer is not restricted by hours or location, and on-line banking is inexpensive.  I am surprised by the number of e-mail inquires received in the middle of the night.  People can truly do their banking 24-hours a day!  On-line banking now permits an individual in the wilderness to carry on their banking business.  This was impossible 50 years ago.  Now with the ability to access the internet through a cellular phone, a computer is no longer required!Institutions offering full service on-line banking can include the ability to view accounts and monthly statements, print statements, conduct transactions, search for account items, transfer funds, make loan payments, acquire loan balances, pay bills, issue stop payments, apply for savings bonds and use the financial calculator.  The financial calculator allows the customer to estimate loan payments, as well as calculate retirement and college education needs. Your new home computer system will open up an entirely new financial world for you and your children.
 
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