What is Online banking Online banking refers to the process of banking carried out online using internet and computer terminal:

• It is one of the latest innovation in the financial world that enables bank customers check account details such as balance, cheque status, etc. using computer terminal

• Customers are not required to visit the bank’s branch office

• They can check their account details on any computer connected to internet

How to do Internet Banking?

Several banks provide online banking facilities to their customers free of charge, or for a small one-time fee

To subscribe to this service:

• Register with the bank’s office for Internet Banking facility

• Submit the valid KYC documents

• Wait till the username and password is generated

• Once login credentials are generated, log into the bank’s website to access the facility

Services provided with Internet Banking

There are several services provided by banks through internet banking facility. Some of the key services provided include:

• Payment of Bills

• Zero Cost fund transfer between bank accounts

• IMPS facility for money transfer

• Money tracking facility

• Facility to book fixed deposits and recurring deposits

Advantages of net banking

There are several advantages of using this service. A few major ones include:

• Cost less

• Saves time

• Efficient

• Extensive coverage

• Speed of transactions

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