What is Net Banking?

These days, services have become so easy to access with the invention of technology and connectivity. Every facility is available online without causing much hassle or inconvenience to the public. It is fast, safe, and secure. People can handle many other vital tasks while working on the internet. Most of them have user-friendly features that allow people of all ages to operate their websites.

Mobiles have made lives simpler and brought people together. They have also provided customers with services such as shopping, booking, netbanking, etc. Banks have made their services available on mobile and online platforms in the forms of apps and websites. For every service or query, customers do not have to run to the bank branch, stand in long queues and wait for their turn to arrive. They can simply access the website or the mobile app for clearance of doubts. Banks have online customer support teams for assistance.

The definition

Internet banking is a system that provides customers with facilities to conduct financial and non-financial transactions from the bank account. The user can transfer funds from one account to another, thanks to this facility. The user may have it in the same or different bank, but that does not matter. The funds can be transferred nevertheless. Electronic devices such as mobiles, computers, and laptops can be used to access this facility. A secure internet connection is required for these facilities. The customer should be an account holder of any bank to use this feature.

The features

Customers who use this facility can access and conduct all kinds of transactions, which include:

• Viewing bank account statements
• Checking the transaction history for a given period
• Downloading bank statements, forms and applications
• Transferring funds
• Paying any kind of bill
• Buying and selling products and services on e-commerce platforms
• Paying for top-ups of mobile plans, DTH connections, etc.
• Trade investments
• Booking tickets for travel, movies, transport, etc.
• Ordering medicines and other medical equipment

The benefits

Every service has some features that help in easing the process of accessibility. The benefits of netbanking are as follows:

• They give permanent access of bank accounts to the respective account holders
• They enable highly secure transactions without revealing confidential information
• They help in immediate funds transfer at any time and anywhere, even during emergencies

They save lots of time as they are fast and all transactions are approved instantly

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Created on Jun 3rd 2020 06:20. Viewed 124 times.

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