Online Banking and the benefits.

What is online Banking?

“Online Banking is a computerized service which allows a Bank’s consumer to use their bank accounts online.”

 It permits to the consumers to access their bank accounts via the internet. It's also known as internet banking, net banking and E- banking.

The benefits of having Internet banking:

Most of the consumers  started using online banking but there are also people who are not using online banking. There are some reasons why one must have online banking:

·         24x7 accessibility
·         No waiting in a queue
·         Reduce expenses
·         Track record
·         Online shopping
·         Bill payments
·         Fund transfer & loans
·         Access From Anywhere

24X7 Accessibility:

 It’s a busy world where people hardly get time for everything. Consumers can access their bank account anytime because there is no time frontier. It only requires a computer or a mobile with internet access.

No waiting in a queue:

It’s extremely irritating to wait in a long queue. Online Banking is a smart way to avoid it.

Reduce Expenses:

Online banking is convenient in many ways it helps to reduce expenses. It eliminates the cost of stamps and ordering cheques as well commute expenses.

Track Record:

Online banking maintains a track record of your transactions. You can review your banking activities. Its an easy way to monitor accounts.

Online shopping:

Online shopping became a trend for consumers nowadays.   Internet Banking helps you to shop more anytime and anywhere.

Bill payments:

Via online banking not only consumers can shop but also they can pay their bills like electricity, telephone bills etc.

Fund transfer & Loans

You can apply for many types of loans and transfer your funds via online banking.

Access from Anywhere:

No need to visit a bank which is located in a particular place. Consumers can access their accounts from any place with the help of the internet. They can access online banking anytime anywhere.