explain any three example of internet banking
Answers
Internet Banking, also known as net-banking or online banking, is an electronic payment system that enables the customer of a bank or a financial institution to make financial or non-financial transactions online via the internet. This service gives online access to almost every banking service, traditionally available through a local branch including fund transfers, deposits, and online bill payments to the customers.
Internet banking can be accessed by any individual who has registered for online banking at the bank, having an active bank account or any financial institution. After registering for online banking facilities, a customer need not visit the bank every time he/she wants to avail a banking service. It is not just convenient but also a secure method of banking. Net banking portals are secured by unique User/Customer IDs and passwords.
Special Features of Internet Banking
Here are some of the best features of internet banking:
Provides access to financial as well as non-financial banking services
Facility to check bank balance any time
Make bill payments and fund transfer to other accounts
Keep a check on mortgages, loans, savings a/c linked to the bank account
Safe and secure mode of banking
Protected with unique ID and password
Customers can apply for the issuance of a chequebook
Buy general insurance
Set-up or cancel automatic recurring payments and standing orders
Keep a check on investments linked to the bank account