From: Robert Hettinga <rah@shipwright.com>
Date: Fri, 1 Nov 1996 10:09:12 -0800 (PST)
To: cypherpunks@toad.com
Subject: mbanx - 128 bit SSL transactions
Message-ID: <v03007801ae9fec9bbbc4@[206.119.69.46]>
MIME-Version: 1.0
Content-Type: text/plain


Can you say, "regulatory arbitrage"?

I knew you could...

Cheers,
Bob Hettinga

--- begin forwarded text


Sender: e$@thumper.vmeng.com
Reply-To: "networks@vir.com" <networks@vir.com>
MIME-Version: 1.0
Precedence: Bulk
Date: Fri, 1 Nov 1996 11:02:33 -0500
From: "networks@vir.com" <networks@vir.com>
To: Multiple recipients of <e$@thumper.vmeng.com>
Subject: mbanx - 128 bit SSL transactions

I just finished reading about mbanx www.mbanx.com

They're a new bank (owned by the Bank of Montreal)
which offers services including bill payment and
account transfers using the Internet.

One of the most interesting things about their service
is that they only permit transactions using Netscape
with 128 bit SSL.  When I heard that I immediately
assumed that I had to go out and buy it, but apparently
they will supply it to me for free if I don't already have
it (so they said when I talked to them on the phone
anyway).

Unfortunately, they seem to have a $13.00 a month fee,
so it's no wonder they aren't worried about giving you
128 bit Netscape.  It's a shame that despite the
fact that branchless banking is probably saving them
a lot of money on infrastructure, they still feel it's necessary
to charge a premium.  However, I must add that, in the
information I have, it is unclear whether the $13.00 fee
is standard or whether it is an option to replace transaction
charges.  I've got more information coming in the mail
so I'll try and keep everyone posted.

Alan Majer
networks@vir.com



--- end forwarded text



-----------------
Robert Hettinga (rah@shipwright.com)
e$, 44 Farquhar Street, Boston, MA 02131 USA
"The cost of anything is the foregone alternative" -- Walter Johnson
The e$ Home Page: http://www.vmeng.com/rah/