Why Is Net Banking So Popular?

Technology has made access to services faster, safer, and reliable. The convenience of these services has also increased. People can connect from any corner of the world without being physically present with their relatives and friends. It has the facility of bringing the world together under a single roof. Technology is a boon. None today can imagine their lives without it.

Net banking is a service that the masses frequently use as internet networks are readily available. Customers have the liberty to transact from the mobile or the computer, anytime and anywhere. This system of using the internet for banking services is powerful and innovative. Here, a user opts for the internet to conduct financial transactions.

All traditional banking facilities like cash deposit, cash withdrawal, and many more, are now available online. Many other services, such as bill payments, fund transfers, mobile recharge and e-commerce purchases, are provided by banks for customer convenience.

A list of the services offered

Banks not only know how to make customers happy but also know how to assist them in every issue they face. Internet banking helps banks provide their customers with the following services:

1. Bill payments

In the ancient days, cheques were deposited in banks and transferred to company accounts for bill payments. But, with online banking, customers can pay their bills instantly by using the internet. They save time by paying their bills online and escape the trouble of carrying funds while shopping or travelling. All the money is safe in their bank account and can be accessed electronically.

2. Account details

Customers have access to their bank account detail and can view their transaction history, pending transactions, and lots more. The account holder can also notice unauthorised transactions.

3. Transfer of funds between two accounts

Customers need to transfer funds to someone to help them pay for a service or product. Online banking makes it easier for the movement of funds between two separate accounts within no time. The customer adds the name of the recipient to transfer money, and the task is complete!

The benefits

You can use the facilities of online banking to obtain a list of benefits:

1. Buy and sell products and services online without physically visiting stores.
2. Invest in property, mutual funds, share market, etc. using the internet.
3. You have the facility to book travel and tourism tickets online through apps and travel booking websites.
4. Bank passbooks are available online and are updated automatically after credits and debits.
5. The NEFT service enables customers to transfer funds freely whenever and wherever required.
   
   

Conclusion

The whole world is going digital. And so are banking services. With the help of net banking, many across the globe have found it easier to access banking and transaction services without visiting the bank too often. These services are a gift of technology to the world and the banking sector.

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Created on Apr 1st 2020 07:33. Viewed 289 times.

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