Volume 7 Issue 2

Banking On The Internet - Reformulation Of The Old Or Adoption Of The New?

Paul Nitschke* & Lynden Griggs**

The major banks have indicated their preference for electronic banking by customers. Higher fees now apply for branch banking; indeed many branches are being closed, advertisements extol the virtues of telephone and computer banking. The purpose of this article is to raise some of the issues surrounding banking on the Internet, particularly in the context of international banking transactions. The traditional rules are mentioned followed by a discussion of the problems surrounding Internet banking.

* Taxation Officer, ATO, Solicitor, Supreme Court of Victoria ** Barrister and Solicitor, Supreme Court of Tasmania, High Court of Australia, Lecturer in Law, University of Tasmania