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Chase Manhattan (New York; $323 billion; 3.5 million ATM cards) recently disclosed the size of its online banking subscriber base and made projections for 1997. At year-end, the combined Chase/Chemical subscriber base stood at only 60,000. With an upcoming re-launch of its proprietary direct-dial program, Chase execs are projecting 200-300,000 users by year-end. Surprisingly, they will stay away from offering Web-based banking during 1997. Chase’s modest 1997 plans for the Web include “(getting) to the point of being able to do some application-receiving on the Internet,” according to Donald Boudreau, Vice-Chairman of Consumer Credit. Either Chase is putting up a smoke-screen to the press or they are way behind. I suspect the latter given the difficulties associated with a merger the size of Chase/Chemical. Good news for all those institutions, big and small, who compete against Chase. Ron Braco is VP and heads the online program, 212.552.2222.
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Comments (1)
Chase Bank: Living in the Stone Age
I just read the description of the bank listed at Epinions: "New, enhanced Chase Online Banking enables you to do all of your day-to-day banking from any computer, any time and anywhere you have a modem or an Internet connection."
What a joke!
I use Quicken software to download and manage all of my banking and credit card transactions.
Unfortunately, Chase only allows transactions from the last 45 days to be downloaded. All of my other bank providers (Bank of America, Citi, etc) allow me to go back for over a year.
I just spoke to Chase' customer service department by phone, and apparently this is a frequent complaint. I was planning to download all of my 2007 business expenses into Quicken and TurboTax so that I quickly prepare my tax return.
Instead, their customer service department advised me to download my statements as PDFs and copy and paste the data into Quicken. Hello!?!? It's 2008! Time to catch up with the rest of the world, Chase!
Don't use Chase if you are a user of accounting or financial management software
Posted by Patrick | March 19, 2008 11:33 AM
Posted on March 19, 2008 11:33