3. INTRODUCTION
Online banking is also known as internet banking,
e-banking , or virtual banking.
It is an electronic payment system that enables
customers of a bank to conduct a range of financial
transactions.
The online banking will typically connect or be a
part of the core banking system which is in
contrast to branch banking.
4. VARIOUS FORMS OF ONLINE BANKING
Automated teller machine
Tele banking
Debit card
Direct deposit
Electronic bill payment
5. Requirements for online banking
o Internet access
o Registration with institution
o Authorized website
o User name and password
6. PROCEDURE OF ONLINE BANKING
Online banking investigates the entry threshold
providing a new transaction service channel for the
use of normal users, Organizations and
Academicians.
Customer must have a valid user id and password to
login to the system.
If a wrong password is given in succession, that
account will be locked and the customer will not be
able to use it.
7. After the valid user logs in he is shown the
list of accounts he has with the bank.
On selecting the desired account he is taken
to a page which shows the present balance in
that particular account number.
User can request for the details of the last ‘n’
number of transactions that he has performed.
8. FEATURS
The key features are as follows :
Balance and transaction history search
E statements and statement preferences
Order new statements
Transfers
Pay bills with BPAY
Receive bills online with BPAY view
9. ADVANTAGES OF ONLINE BANKING
Permanent access to the bank
Lower Transaction Costs
Access anywhere using mobile or computer
Less time consuming
Very safe and secure method
Helps to transfer the money immediately and
accurately
Easy to use
10. CONCLUSION
The strategy of bank is to provide value added
services and products to the consumers, utilizing the
internet extensively.
The main aim of E-banking or online banking is to
make transactions through online processes and
provide customers with more benefits.
Providing internet banking is increasingly becoming
a “need to have” than “nice to have” services.