Friday, November 8, 2013

What is E-Banking :Definition & Explanation

  "E-Banking  is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution."

Online banking  or Internet banking
           In simple terms it does not involve any physical exchange of money, but it’s all done electronically, from one account to another, using the Internet.
From a personal computer, you can access your bank account information, and perform many banking functions, like transferring money, making a loan payment.Once you register  yourself on a bank website, you can  view your accounts, credit card & home loan balances,Accrued interest, fees and taxes,Transaction
details of each account,Pay bills,Transfer funds to third party accounts which you nominate,Open a deposit right from the terminal you are sitting at.However, till now  Internet services in India only allows  for a minimum level of interactivity such  as answering e-mail queries,Feedback forms,Articles asking for readers’ opinion at the end
          An accountholder,  armed with a password, can use the  Net to order a cheque book, stop  payment of a cheque and spot the  balance and individual operations in the  account and transfer funds. 

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