Online banking allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society.It may include of any transactions related to online usage
To access a financial institution's online banking facility, a customer having personal Internet access must register with the institution for the service, and set up some password (under various names) for customer verification. The password for online banking is normally not the same as for telephone banking. Financial institutions now routinely allocate customer numbers (also under various names), whether or not customers intend to access their online banking facility. Customer numbers are normally not the same as account numbers, because a number of accounts can be linked to the one customer number. The customer will link to the customer number any of those accounts which the customer controls, which may be cheque, savings, loan, credit card and other accounts.
To access online banking, the customer would go to the financial institution's website, and enter the online banking facility using the customer number and password. Some financial institutions have set up additional security steps for access, but there is no consistency to the approach adopted.
• Very convenient: Online banking is a totally easy thing to do. In the comfort of your home or offices, you can do whatever monetary transactions you wish to do with your bank.
• Unlimited service day and night:The services and various features of your bank are always available seven days a week and 24 hours daily.The most interesting thing here is that, everything can happen at just one click of your mouse.
• No time constraint:Online banking is also stress free because it never closes unlike the traditional banking that has cut-off time.
• Easy to access via PC:Using your personal computer, you can easily...