what is net banking
Answers
Explanation:
Online banking, also known as internet banking or web banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website.
With internet or online banking or net-banking, customers can transfer funds to another bank account, check account balance, view bank statements, pay utility bills, and much more. Mobile Banking: This electronic banking system enables customers to perform financial and non-financial transactions via mobile phone.
☆ Net Banking ☆
The days of standing in long queues for deposit money in our accounts and withdrawing the money are over. Today, most of the transaction related to money are usually done from the comfort of our homes or while we are moving or travelling anywhere. This has been possible due to highly secured feature provided by the bank called net banking. Security is a big issue in online payments. Data is encrypted while it is transferred online. This is done by a protocol called Secure Sockets Layer ( SSL ).
Net banking allows us to connect with power bank using a highly secure password and access our account. Making online payments or transferring money from one account to another is done easily and securely using net banking.
To use this feature, user go to Bank's website or launch mobile app to login into their account. All E-Commerce and M-Commerce websites allow us to use net banking for making payments.