Suncorp
Current services
Suncorp's Internet banking pleasantly surprised us with its sophistication. It also has a business banking section for its Web site, which also has a focus on rural customers. Suncorp provides a range of services such as merchant services, foreign exchange, and share trading.
Similar to other banks, you need to be registered for telephone banking. If you already have your access code, you can then select the accounts you'd like to have access to.
Once logged in, the current version of Suncorp's online banking provides: Account balances, recent transaction history, Bill payment, both immediate and future dated, and funds transfer to any Suncorp Metway deposit account, home loan or personal loan. At the moment, you can see the last 25 transactions, but this is being updated to the last 12 months in the coming version.
You can also manager your loan accounts, and access features such as funds transfer and bill payments. Like the NAB, you can open ten rm deposits, but there's no quick link to the current rates.
Once displayed you can download the transactions in Quicken, Money, or ASCII format.
While you can access most accounts, unfortunately for the small business you cannot access Small Business Loans, Commercial Banking Loan or Lease accounts.
In the service centre, you can change your details including the accounts accessed and personal details.
Customisation includes balance notifications to advise you when your accounts' balance falls below and or rises above a certain amount, as well as being overdrawn, or close to your limit. Secure messages with a claim of a 24 hour response time and Payment of Insurance Premiums are also available.
Future Services
Suncorp is currently upgrading its service to include support for accounts which require 'Two to sign', as well as bulk payments.
Under Bulk payments, you can set up 10 groups of 30 payees. Before the payments are made, you can authorise them, and make any variations. Small business will be pleased with the ability to import a payroll file, but make sure you apply for an Australian Payments Clearing Association number first.
The maximum amount for transferring to another bank's account has been increased to AU$20,000, making it useful for salaries and other large payments.
Usability
The transaction history screen provides flexibility in how much you want to see, but if you want a quick glance of your most recent, you have to make a minimum of four clicks. But at least there's a column each for debits and credits, making it easy to get a sense of how your spending is going.
There is an advanced search where you can search for specific transaction types, as well as a cheque search by cheque number. If you don't know the cheque number, then you can do an advanced search for cheque types. However, much of this could be easily integrated directly into the transaction details screen.
When making a funds transfer, you have to enter a password. At first this was unclear, but we then realised it was a second password as a level of security. You need to specifically apply for this, and there was no mention of this inside the Internet banking service, except in the demo.
When setting up a frequent Biller, you need to know the code. There is no search as found on most of the other online services.
Suncorp requirements are for a windows-based PC only, and makes no guarantees in supporting non-PC customers.
Conclusion
Apart from a couple of minor navigation issues at the account level that would make things quicker, the interface was implemented in a consistent manner, making it easier for the novice customer. It also had a nice look and feel about it in most areas.
Overall Rating 3.5 / 5.
A big problem delaying greater use of all forms of electronic banking is a valid distrust of banks. A number of times I have needed to change banks because the bank has discontinued a service, made a service uneconomic or broken their promise to me. Banks breaking their promises of a frequent problem. The managers who make offers and promises to you have no discretion to keep the promise when Head Office changes the rules.
When you have to change banks it creates big problems if you have organised direct payments into your account for dividend and investment receipts. Before you can change banks you have a huge list of people you have to advise your new account well in advance and then some are still going to go to the old account. In the end it is so much easier and safer to simply get paid by cheque and refuse the requests for direct payment.
What is needed is a reverse BPay where a payee can give payors a code. That code goes to a web table that I can update. Each time that someone has to make a payment to me they download the current bank details from that secure site. When I wish to change my bank I only have to change that one web table for all my payments to go to the new account.