I am wondering since Royal Bank of Canada, and the Bank of the Bahamas and others do online banking, has anyone here participated in it? If so, how is it, how secure, and how convenient or worthwhile is it from a Bahamian viewpoint. I know Royal Online has an online demo (http://www.royalbank.com/caribbean/demo/sign-in.htm) but I wanna know if anyone has actually used it.

Thanks much folks.

I am wondering since Royal Bank of Canada, and the Bank of the Bahamas and others do online banking, has anyone here participated in it? If so, how is it, how secure, and how convenient or worthwhile is it from a Bahamian viewpoint. I know Royal Online has an online demo (http://www.royalbank.com/caribbean/demo/sign-in.htm) but I wanna know if anyone has actually used it.

Thanks much folks.


i know one night after a few rum and cokes ill get suckered into clicking on one of those emails that ask for confirmation of my access password ..!

I have been using Royal Online for years now and the benefits are very good if you want to track your accounts better.

I have been using Royal Online for years now and the benefits are very good if you want to track your accounts better.

I am sure there is a charge for that service at the RBC. Do you know what it is?

Was wondering the same thing about the costs since I was trying to convince my dad to do a lil online banking.

I think that they use to charge $5 or $8 buck per month but I think it's free now because I don't see the charges anymore (maybe because Scotia now has it).

First Caribbean has started the online/telephone banking and they're still charging for it. I haven't done any transcations online, as I'm just using it to view the accounts for when cheques clear. When it's been in effect for a while, I'll start the money transfers, etc.

By the way, they're charging $2-$3 a month for the service.

I wonder whether or not this will decrease the (attempted) money laundering that occurs in these banks?

Do you think I should sign up? What are the benefits of it? Is it safe? I bank at the Royal Bank of Canada.

I can only speak for FirstCaribbean, in regards to security, and I don't wanna seem like I am soliciting any customers - however, it is entirely safe and secure. With FCIB (too long to keep typing the full name) you can view account balances, transactions for over 6 months, transfer funds between accounts instantly, order cheque-books, get your loan details. And by the end of the year (SUMMER 2005 it is actually anticipated), you would be able to pay your bills, do wire transfers, and get credit card transactions as well. So no need to go to the bank unless it's for cash. It is secure because no actual cash is involved, transfers are only done between YOUR accounts, and your information is accessible only through using your USER ID and password. So once you keep them secure, there's no major security threat.

So in other words, it's a wonderful service!

(Damn that was long)

If its on the internet .. then it is never 100% safe.

Unless you have millions in there though, doubtful any crackers are going to waste their time on your account.

If its on the internet .. then it is never 100% safe.

Unless you have millions in there though, doubtful any crackers are going to waste their time on your account.

So, no one is going to mess with my over-draft? :o :shaky:

If its on the internet .. then it is never 100% safe.

Unless you have millions in there though, doubtful any crackers are going to waste their time on your account.


Good point Roy. Once it an object is in digital form … game over. People are under the false impression that security is about firewalls, IDS, and Anti-virus software. Well, it is not. Security is about protecting the process, the entire process. This process also includes employees. Only 15 – 20% of all security breaches are from external threat agents. 30 – 35% are from employees.

Although I like the convenience of online banking, I have a problem with First Caribbean’s user agreement (I have not seen other banks’ agreements). I encourage you all to read your bank’s online banking user agreement before using their services. It is scary what there are putting in them. Take FCIB (First Caribbean) for instance, their email disclaimer says:

"Internet communications are not secure and therefore FirstCaribbean International Bank does not accept legal responsibility for the contents of this message. Although FirstCaribbean International Bank operates anti-virus programmes, it does not accept responsibility for any damage whatsoever that is caused by viruses being passed. Any views or opinions presented are solely those of the author and do not necessarily represent those of FirstCaribbean International Bank. If this email has not reached the intended recipient, please disregard and delete the message."

In a court of law I am not sure if such extensive disclaimers would be up held if tested. Consumers need some recourse in cases of gross negligence. Banks are attempting to reduce their liability exposure with these questionable agreements and disclaimers. To me this is a concern.

Good point Roy. Once it an object is in digital form … game over. People are under the false impression that security is about firewalls, IDS, and Anti-virus software. Well, it is not. Security is about protecting the process, the entire process. This process also includes employees. Only 15 – 20% of all security breaches are from external threat agents. 30 – 35% are from employees.

Although I like the convenience of online banking, I have a problem with First Caribbean’s user agreement (I have not seen other banks’ agreements).
Banks are attempting to reduce their liability exposure with these questionable agreements and disclaimers. To me this is a concern.


Employee threats are the main thing that I'm concerned with when it comes to hacking information. People with Scotia/Royal accounts, where the user agreements you signed similar to FCIB? I saw that paragraph that was posted above within the FCIB contract, but I assumed that if you reported an incident within a reasonable amount of time, that they would at least have to respond to your claim if a virus kills your computer.