Online Banking By informationmaker.blogspot.com

Online Banking

“Online banking / internet banking allows customers to conduct financial transaction on a secure website operated by their retail bank, virtual bank, credit union or building society”

Main Points of Online Banking

Depositing the Money:

In online banking the customer can deposit money in his account at any place or city provided that the branch in which he is depositing the money has on line banking facility.

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Withdrawal from Bank:

In online banking, the accountholder of bank’s one branch can withdraw money by presenting cheque to another branch. The branch of bank where a cheque is presented for  payment certifies the balance and specimen signature of the accountholder through fax machine or Internet and then makes the payment of cheque.

Transfer or Payment of Money:

In on line banking, an accountholder can transfer money from his bank account to another account without using a cheque. Thus, an amount can also be transformed from one account to another to settle the transaction or for payment.

Mobile Phone / Phone Banking

Under e-banking the customers can deal or pass orders to their banks through mobile through mobile phones / phone without visiting the bank. The customers can check their account balances, and make various payments by sending SMS (Few required the voice) through mobile phones / phones. Mobile phone / phone banking services are available to customers around the clock.