<P> Online banking was first introduced in the early 1980s in New York, United States . Four major banks--Citibank, Chase Bank, Chemical Bank and Manufacturers Hanover--offered home banking services . Chemical introduced its Pronto services for individuals and small businesses in 1983, which enabled individual and small - business clients to maintain electronic checkbook registers, see account balances, and transfer funds between checking and savings accounts . Pronto failed to attract enough customers to break even and was abandoned in 1989 . Other banks had a similar experience . </P> <P> Since its inception in the United States, online banking has been federally governed by the Electronic Funds Transfer Act of 1978 . </P> <P> Almost simultaneously with the United States, online banking arrived in the United Kingdom . The UK's first home online banking services known as Homelink was set up by Bank of Scotland for customers of the Nottingham Building Society (NBS) in 1983 . The system used was based on the UK's Prestel viewlink system and used a computer, such as the BBC Micro, or keyboard (Tandata Td1400) connected to the telephone system and television set . The system allowed on - line viewing of statements, bank transfers and bill payments . In order to make bank transfers and bill payments, a written instruction giving details of the intended recipient had to be sent to the NBS who set the details up on the Homelink system . Typical recipients were gas, electricity and telephone companies and accounts with other banks . Details of payments to be made were input into the NBS system by the account holder via Prestel . A cheque was then sent by NBS to the payee and an advice giving details of the payment was sent to the account holder . BACS was later used to transfer the payment directly . </P> <P> Stanford Federal Credit Union was the first financial institution to offer online internet banking services to all of its members in October 1994 . </P>

When did online banking start in the uk