news .Bank Gets Over 5,500 Applications For a .Bank Domain At $1K+ Per Domain

[Eric Lyon]

fTLD Registry Services announced today that more than 5,500 .BANK applications have been received from members of the global banking community at a retail price of $1,000 + depending on the registrar...

Rest of the story

 

[pdevananth]

Another great news for ngtlds.

 

[vivaldi]

A very useful new g because of it's restrictions it will add another security layer to the banks using it.

 

[bmugford]

Cool now we can have Chase.com, and Chase.Bank and Bank.Chase.

More than likely most of these are mainly brand protection registrations.

Brad

 

[cmdomains]

In poker, .BANK would be the Pocket Rockets. Meaning, other ngtlds may or may not matter.

 

[mad409]

I think the .bank extension is great for the banking industry. Since its exclusive to banks you will know it's not .com or other spam extensions trying to steal your information.

Just look for yourbank.bank.

 

[sOliver]

Best news I've heard in a while. I'm glad I positioned myself in a way that I can benefit from the secondary market. Go where the growth is.

 

[Kate]

Restricted TLDs have never been popular.
We have seen it with .pro, yet it is is extremely broad in scope unlike .bank.
But too many restrictions + poor distribution channels + apathy = failure.

The banks don't need another extension. Their URLs are well known in .com.
It's more money wasted on defensive registrations. Do I hear racket ?

 

[sOliver]

Restricted TLDs have never been popular.
We have seen it with .pro, yet it is is extremely broad in scope unlike .bank.
But too many restrictions + poor distribution channels + apathy = failure.

The banks don't need another extension. Their URLs are well known in .com.
It's more money wasted on defensive registrations. Do I hear racket ?

I couldn't disagree more. We already talked about the security advantages and it's still a valid reason why all of us will use .bank in the future.

It will prevent a lot of attacks and phishing. Only banks can register .bank, every hacker can get a COM. And if you don't see it how it enhances security, I can't help you.

It's coming our way, so you either prepare or you lose out.

 

[bmugford]

I couldn't disagree more. We already talked about the security advantages and it's still a valid reason why all of us will use .bank in the future.

It will prevent a lot of attacks and phishing. Only banks can register .bank, every hacker can get a COM. And if you don't see it how it enhances security, I can't help you.

It's coming our way, so you either prepare or you lose out.

So a bank might use .bank, their own .brand, or continue to use .COM or ccTLD. Sounds way less confusing and beneficial to customers...

Brad

 

[Kate]

Consumers are not going to trust .bank domains unless they become prevalent in the industry, the norm. And they won't....

You know why ? So-called restricted TLDs do not provide reassurance for a simple reason: the layman has strictly no idea of the eligibility requirements of .bank or whatever, and how restricted it is. That's it.
Using a .bank or some other TLD like .jobs just doesn't 'signal' enhanced trustworthiness. People have no clue about those odd strings.

This is another moot point anyway, because existing banks already have their URLs that are well-known and trusted.

Phishing works because people don't pay attention to the URLs. Even enforcing mandatory use of .bank wouldn't change a thing.

If you don't get this, I can't help you.

Come back in one year, and see how many .banks are actually used and are not redirects.

 

[sOliver]

So a bank might use .bank, their own .brand, or continue to use .COM or ccTLD. Sounds way less confusing and beneficial to customers...

Brad

So you're saying 5,500 banks havent asked that questions before and concluded that .bank is a good alternative to buying their own TLD? Sure, we will have a few mega-banks like Barclays who will do their own thing but most banks will use the new extension. Bank is a great alternative to COM.

Stop living in the past. This is going to happen. Those banks are not spending so much money for nothing. Google did not spend 5 million+ for nothing. Here is hard evidence of adoption and you are simply denying it.

 

[sOliver]

Phishing works because people don't pay attention to the URLs. Even enforcing mandatory use of .bank wouldn't change a thing.

No, phishing works because people pay attention but do not know that IDN domains exist or that people would bother setting up a site that looks identical.

The problems of IDNs is solved with new TLDs. It's more secure and will be used. Welcome to the future.

 

[Kate]

So you're saying 5,500 banks havent asked that questions before and concluded that .bank is a good alternative to buying their own TLD?

You might as well consider your own statement the other way round. Only 5500 banks have bothered to take action.

You have no idea how much money the big companies spend on brand monitoring, defensive registrations, plus lawyers on a retainer.
New extensions have always thrived on defensive registrations. Corporations know the song, and they are used to it. .bank is no different. They bought .mobi back in the day too. Not because they were believers but just in case and they had to cover bases.

Sure, we will have a few mega-banks like Barclays who will do their own thing but most banks will use the new extension.

Most banks really ?
Historically, industry-specific TLDs have not done well. Consider .aero .travel .coop.

But domainers think it's all different now. Yet the fundamentals are still the same.

Bank is a great alternative to COM.

You mean they will switch over to .bank ? Benefits ? Other than the joy of fixing what ain't broken ?

No, phishing works because people pay attention but do not know that IDN domains exist or that people would bother setting up a site that looks identical.

Thanks to the new extensions, the scammers now have many more opportunities to mimic known URLs. Because a lot of the new extensions are open to the public.

 

[Lite]

Historically, industry-specific TLDs have not done well. Consider .aero .travel .coop.

But domainers think it's all different now. Yet the fundamentals are still the same.

Your historic mentions ".aero, .travel and .coop" can not be compared to currently released gtld's such as .property, .news and other hundreds of industry specific names. There will be of-course only one or two popular gtld in each industry specific domains. I also do not understand your 100% anti GTLD stand and the time you take to put your negative comments on most of GTLD threads.

 

[Kate]

Your historic mentions ".aero, .travel and .coop" can not be compared to currently released gtld's such as .property, .news and other hundreds of industry specific names. There will be of-course only one or two popular gtld in each industry specific domains. .

In my view, nothing has really changed. End users did not switch to new extensions when they had a chance, because there was no benefit to doing so. But they had something to lose.
That statement remains valid today.

To take an example: as you may be aware, there is now a .realtor domain. So it's a very 'official' extension: it comes from the trade body. But I doubt that NAR will be able to force all members to use it. Most will probably be reluctant to do so. Especially when they have been trading for a long time in .com. Thus common sense dictates that use of .realtor will remain optional. Read: gadget.
It's brand affirmation. At least that's the way I see it.

I also do not understand your 100% anti GTLD stand and the time you take to put your negative comments on most of GTLD threads.

Some people spend a lot of time pumping new extensions, so I guess it all balances out
Seriously, I like to play the devil's advocate. I enjoy the clash of ideas, but the more I think about it, the more I think people have learned nothing from the past. When it comes to new extensions, naysayers have always been more right than wrong.
Just because we are flooded with new strings, people are in panic mode, losing focus. There's supply, but the demand isn't huge.

Listen to arguments from both sides, then decide.
The only thing that matters is reality. It will unfolding soon. Sit back and watch...

 

[namezest]

Bank robbery!