NET BANKING

Submitted by
Nisha K I
0920041
 NET BANKING

Net Banking refers to the ability to access banking services/products via

the internet. It is one of the cheapest channels for a bank.

Typical Internet Banking offerings include:

Static information about the bank’s offerings, application forms
Specific account information: Statements, Alerts,
Ability to change/edit account information
Stop payments, cheque book requests/other instructions
Payment transactions to other accounts within and external to the
bank
Bill Payments
Example: HDFC net banking window
Advantages of Internet Banking

 An internet banking account is simple to open and use.

 Internet banking costs less.
 Comparing internet banks to get the best deal is easy.
 Bouncing a cheque (accidentally) should be a thing of the past because
you can monitor your account online any time, day or night.
 You can keep your account balanced using your computer and your
monthly statement.
 With the ability to view your account at anytime, it is easier to catch
fraudulent activity in your account before much damage is done.
 Internet banking offers a great deal more convenience than you could
get from a conventional bank.
Disadvantages

 Start-up may take time : Technical difficulties

 Need an account with Internet Service Provider
 Security concerns, like “hackers” accessing your bank accounts
 Switching banks can be more cumbersome online than in person
 Need to have basic computer skills and internet knowledge
 Learning curve
Security Concerns

 Digital encryption
 Usernames and PINs
 Time-out
 Anti-virus
 Anti-Spyware
 Firewalls
 Password Protection
 Beware of Phishers
Thank You