NET BANKING
Introduction of net banking
Internet banking also
known as a net banking or online banking. It is an electronic payment system
threw that customer easy to transfer the money from one to another. This
service is use for online users in any banks. From this the transactions are
assure for safe transactions. The particular customer has a unique user and
password as well as UPI. Internet banking can be accessed by any individual who
has registered for online banking at the bank, having an active bank account or
any financial institution. After registering for online banking facilities, a
customer need not visit the bank every time. They wants to avail a banking
service. It is not just convenient but also a secure method of banking. Net
banking portals are secured by unique user/ customer IDs and Passwords.
Features of Net Banking
·
Provides net banking access to financial
as well as non- financial services.
·
It is very flexible to check our bank
balance as well as transactions at any time anywhere.
·
Make payments to other account or credit
our account is easy
·
Keep on checking our bank or financial
sector related loans, savings account linked to the bank account
·
Exactly safe and secure mode of our
transactions and managing our accounting details.
·
Protected with unique ID and Pass word
·
Customers can also apply for the
Issuance of a Cheque book
·
Buy general Insurance also easy
·
Set-up or cancel automatic recurring
payments and standing orders.
Types of Net Banking
The advent of the World Wide Web in the mid-1990s brought information to our fingertips. Using the Internet, we can shop, pay bills, hear weather reports, play interactive games and keep abreast of breaking news. In recent years, both Internet-based and traditional brick-and-mortar banks have set up shop online, allowing their patrons to send, receive and monitor money in their accounts. According to the U.S. Department of the Treasury, there are three types of Internet banking: informational, communicative and transactional.
Informational
Internet Banking
This fundamental level of banking does not
allow patrons to view or maintain accounts, nor does it allow for communication
between the financial institution and customers. Informational Internet banking
simply means the bank provides basic information about its products and
services, much like a brochure. This is meant for marketing purposes only, and
there is no connection to the bank's main computer systems.
Communicative Online Banking
Communicative online banking allows for some communication
between the patron and bank. However, this is typically limited to fundamental
interactions such as account inquiries, new account updates, loan or mortgage
applications, contact information updates and balances. Communicative online
banking may connect with the bank's main computer systems.
Transactional Internet Banking
The most
popular online banking type, transactional Internet banking offers all of the
benefits of a traditional brick-and-mortar institution. This includes full
control over your accounts—deposits, withdrawals, transfers, updates and online
payments. Increased security measures now make Internet banking safe, secure
and convenient, especially in the case of mobile online bank
Internet banking is also a convenient way of making use of
small banking services anytime and anywhere. Transactions are done
electronically through the internet. There will be a wide range of banking
services that you can make use of through the banks official website. Internet
banking lets you manage your money and check all your transactions online. You
can pay all your bills online, which includes fund transfers, mobile recharge,
online payments, etc. You can make use of internet banking through your home
computer or laptop by logging in with your credentials - customer ID and
password.
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