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This research examines the factors effecting customer acceptance and usage of online banking, such as security and privacy, convenience, knowledge, culture and age. This exposition reviews literature based on online banking and customer perceptions towards online banking. A questionnaire was also utilized to survey approximately 60 personal respondents to analyze the level of acceptability and customer satisfaction of using online banking.

The results from the questionnaires were statistically analyzed using SPSS software which provided us with a comprehensive analysis of the survey. The survey results were then compared to the literature reviews to determine whether the outcome is similar or whether our survey conflicts with the literature reviews.

The survey results showed that, while most customers are generally knowledgeable about online banking, their attitudes towards using online banking, at best is mildly positive. It was also determined that the major cause for this result was due to the customers perception towards online security and privacy of information, most candidates in our questionnaire survey responded negatively when asked about their willingness to provide personal information online.

Therefore we conclude that customers are prepared to accept the online banking channel as a medium to carry out their banking transactions, however it was also determined that one of the main obstructions were their willingness to provide personal information online due to a lack of trust in the medium to keep their information secure and private.