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The advancement of electronic banking or commonly known as e-banking, began with the use of automatic teller machines (ATMs) and has included telephone banking, direct bill payment, electronic fund transfer, online banking and other electronic transactions. For many people, they believe that the e-banking will go to the direction of mobile banking. Also, some people believe that online banking will be the most popular method in the future.

Many people are now able to avoid the rush to get to the bank before it closes, as they can bank from a home computer or via automatic teller machine (ATM). Most banks routinely offer online banking services when customers sign up for accounts. There are a variety of options based on the type of banking account they have. For example, a checking account can be linked to an ATM card, and most accounts can be viewed and managed using online banking. An ATM card works two different ways--as credit or debit. When it is used as a credit card, many banks do not charge fees and the money does not come out of the account immediately. A debit card requires that a pin number be entered are required. ATM withdrawals may be conducted at any ATM machine that accepts any debit card.

E-banking or electronic banking refers to all types of banking transactions performed electronically, without visiting a bank. Terms such as PC banking, Internet banking or online banking are sometimes used instead. E-banking allows costumer to conduct bank transactions online, instead of finding a bank and interacting with a teller. For customers, this means performing actions such as paying bills, checking balances on their accounts, transferring funds and purchasing financial instruments remotely. Banco De Oro Universal Bank, Inc. is the largest bank in the Philippines. It belongs to the SM Group of Companies, one of the country's largest conglomerates owned by tycoon Henry Sy. Following the Banco de Oro-Equitable PCI Bank

merger, the bank has since become Banco de Oro Unibank, Inc. It provides products and services to the retail and corporate markets including lending (corporate, middle market, SME, and consumer), deposit-taking, foreign exchange, brokering, trust and investments, credit cards, corporate cash management and remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage and Stock Brokerage services.

In this study, the researchers aim to find out how important E-banking is to the depositors of Banco De Oro Private Bank in Don Antonio, Quezon City. And how well they are satisfied in terms of the benefits that E-banking can do in their banking transaction.

STATEMENT OF THE PROBLEM

This study aims to assess the effectiveness of e-banking to the depositors of Banco De Oro, as basis of its program enhancement.

Specifically, it aims to answer the following questions:

1. How do the profile of the depositors be described as to: 1.1 gender, 1.2 age, and 1.3 civil status?

2. How do the depositors asses the E-banking program in terms of: 2.1 accessibility, 2.2 accuracy and 2.3 convenience?

3. How effective is the e-banking program of a private bank with regards as to:

3.1 accessibility, 3.2 accuracy, and 3.3 convenience? 4. Is there a significant difference between the assessment of depositor and the private bank with regards to: 4.1 accessibility, 4.2 accuracy, and 4.3 convenience? 5. What are the common problems encountered in using E-banking?

NULL HYPOTHESIS There is no significant difference between the assessment of depositor and the private bank with regards to: a. accessibility, b. accuracy, and c. convenience?

SIGNIFICANCE OF THE STUDY

The following entities or persons may be benefited from the result of this study:

Banks helps to enhance the products and services that they will extend to their customers in terms of deposits, withdrawals, and other bank transactions.

Depositors will be given information that can help them in providing some information about e-banking.

Bank Managers can find more ways of enhancing their E-banking system to attract more customers and to make their system more effective than other banks.

Future researcher will surely help them in the future, as source of information and related studies and it will also supply unnecessary fact and information.

SCOPE AND LIMITATION The major concern of this study is to assess the effectiveness of E-banking to the customers of a private bank. The researchers choose Banco De Oro Unibank, Don Antonio Quezon City as the locale of the study. It was limited to 30 customers which are chosen randomly as the respondents or subjects of this study.

DEFINITION OF TERMS

For better understanding of this study, the following terms herein defined operationally.

Accessibility is the degree to which a product, device, service, or environment is available to as many people as possible. (Bouing, 2009) Accuracy is the state of being accurate; freedom from mistakes, this exemption arising from carefulness; exact conformity to truth, or to a rule or model; precision; exactness; nicety; correctness; as, the value of testimony depends on its accuracy.

Automatic Teller Machine is used to perform financial transactions without the need for a cashier, human clerk or bank teller. Using an ATM, customers can access their bank accounts in order to make cash withdrawals, debit card cash advances, and check their account balances as well as purchase pre-paid mobile phone credit (Barbara, 2006) Convenience is the quality of being suitable to one's comfort, purposes, or needs Depositor (also known as a client, buyer, or purchaser) is the recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration (Bouing, 2009) Debit Card (also known as a bank card or check card) is a plastic card that provides the cardholder electronic access to his or her bank account(s) at a financial institution. Some cards have a stored value with which a payment is made, while most relay a message to the cardholder's bank to withdraw funds from a designated account in favor of the payee's designated bank account. The card can be used as an alternative payment method to cash when making purchases. (Barbara, 2006) E-banking allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or society. It may include of any transactions related to online usage Effectiveness refers to the usefulness of E-banking to the transactions made by depositors or customers of a bank.

Electronic funds transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. (Barbara, 2006) Private Bank is a bank owned by either an individual or a general partner(s) with limited partner(s). Private bank is not incorporated. "Private bank" can also refer to nongovernment owned banks in general, in contrast to government-owned (or nationalized) banks. (Barbara, 2006)