Internet Banking

Presented by
Nithya.B
0920343
 Introduction
• Internet banking allows customers to conduct
financial transactions on a secure website operated
by their retail or virtual bank, credit union or
building society.
• Also known as cyber banking, home banking and
virtual banking.
• Includes various banking activities that can be
conducted from anywhere instead of at a physical
bank location
 History
• Late '80s - use of a terminal, keyboard and TV (or monitor) to
access the banking system using a phone line.
• 1981 – New York - city’s major banks (Citibank, Chase Manhattan,
Chemical and Manufacturers Hanover) offered home banking
services using the videotex system.
• Bank of Scotland- UK's first home online banking services allowed
on-line viewing of statements, bank transfers and bill payments.
• 1994 - Stanford Federal Credit Union - first financial institution to
offer online internet banking services to all of its members
• Today – Many banks are moving towards offering online services
in addition to their normal services
 Features include….
• Accessing current account balances at any time.
• Obtaining charge and credit card statements.
• Paying bills online.
• Downloading account transactions.
• Transferring money between accounts.
• Keeping track of accounts online.
• Sending e-mails to the bank.
• Flexible schedule for customers.
• Additional services like free phone banking, ATM withdrawals,
bill paying
 Examples of online banking websites
Bank of India State bank of India

Royal Bank of Scotland

THANK YOU