ONLINE BANKING

Online banking refers to electronic banking. It is like the electronic business in banking industry.

E-banking is also called as "Virtual Banking" or "Online Banking".

E-banking is a result of the growing expectations of bank’s customers.

E-banking involves information technology based banking.

Under this I.T. system, banking services are delivered by way of a computer-controlled system.

This system does involve direct interface with the customers.

The customers do not have to visit the bank’s premises.

HISTORY OF ONLINE BANKING IN THE WORLD

Online services started in new york in 1981.

Four Banks (Citibank, chase Manhattan, Chemical and Manufacturers Hanover) were the first provide
home banking services through videotex system.

Stanford federal credit unión was first financial institution to offer online internet banking services to al
lof members in october 1994.
FIRST STEP FOR ONLINE BANKING?

- First we need to créate user name & password.

- Few Banks are giving flexibility for generating user name and pasword from home itself.
- We must visit some Banks for internet banking kit, which includes user name and password etc.
- Once we get these, we can perform amm the bank transactions at home it self using online
banking.

Note:

Mobile number and emails id are mandatory.

HOW TO USE ONLINE BANKING?

- Using online banking we can do

1. Funds transfer
2. Bills payment
3. Check book request
4. Manage debit/credit cards etc ……

- Beneficiary details must be added to transfer funds.

1. Account holder name
2. Account number
3. Address
4. Bank IFSC Code
WAYS TO TRANSFER FUNDS?

Mostly all online banking systems are transferring money (funds) in 4 ways.

Same Bank Transfer

- It is a preferible options for transferring funds within the Banks accounts.

- Funds Will be credited to beneficiary account instantly.

Neft / RTGS/ Imps

- Any one of the option can be used for transferring funds to other accounts.
The popular services covered under online-banking include:

1) Automated Teller Machines

2) Credit Cards
3) Debit Cards
4) Smart Cards
5) Electronic Funds Transfers (ETF) System
6) Cheques Transaction Payment System
7) Mobile Banking
8) Internet Banking
9) Telephone Banking
BENEFITS FOR BANKS

- Larger customer coverage reducing the costs of operations

- Promoting their services and products internationally
- Increasing the customer satisfaction and providing a personalized relationship with customers.

MOBILE BANKING

- Mobile banking is a service provided by a bank or the financial intitutions that allows its
customers to conduct financial transactions remotely using a mobile device such as a Smart
phone or Tablet.
- The related internet banking it uses software, usually calle an app, provided by the financial
institution for the purpose.
- Mobile banking is usually available on a 24-hour basis.