Online banking

Online banking

Online banking is a systematic banking process which allowing individuals to perform banking activities at home through internet. Online banking also called e-Banking, electronic banking, internet banking, electronic banking, PC banking, home banking or “Web banking. To make an online banking transaction you have needed preliminarily an internet connection, a PC or a desk top computer and an online banking account from which you make a transaction. You need to use Internet Banking is a secure browser that supports 128 bit encryption, such as Mozilla Firefox, Google Chrome, Microsoft Internet Explorer®, Netscape Navigator® or America Online®, . You can use any computer that has Internet access.

History of Online Banking:

 Since early 1980s online banking starts to offer various types of facility.

In 1983 the bank of Scotland offers Nottingham Building Society (NBS) offers the customers first online banking in the UK and called it ‘Home Link’. By connecting through a TV set and a telephone to send transfer and pay bills. At present it is day by day updated. Above 55 percent+  customers all over the world are using online banking as per record of 2012.

Features online Banking

1.Through online banking a bank customer be able to perform some non-transactional tasks through online banking, including –

  1.  viewing account balances
  2.  viewing recent transactions
  3.  viewing images of paid cheques
  4. downloading bank statements, for example in PDF format
  5. ordering cheque books
  6. Downloading applications for M-banking, E-banking etc.

2. Bank customers can transact banking tasks through online banking, including :

– Funds transfers between the customer’s linked accounts

– Paying third parties, including bill payments (see, e.g., BPAY) and telegraphic/wire transfers

– Investment purchase or sale

– Loan applications and transactions, such as repayments of enrollments

3. Financial institution administration

4. Management of multiple users having varying levels of authority

5. Transaction approval process

6. Transfer funds from one account to another or make deposits

7. 24- hours cash deposit & withdrawal facility

8. Quick cash withdrawal without waiting in a queue

9.   Account activities enquiry in any moment

10. Statement request through ATM/Debit/Credit Card

11. Transfer own funds to other account number in same bank

12. Deposit or Mail cash or cheque(s) (Cross cheque) through mechanical device

13. Changing Personal Identity Number

14. Cash deposit which will originally deposit very next day of deposit that means do not need to go to the branch for every occasion.

15. Mini statement which contain 8-10 previous transaction records

16. Able to pay utilities bill

17. Withdraw money by using VISA, PLUS, MASTER, MAESTRO and other credit card

18.  Withdraw money from dollar account which gives taka by converting foreign Currency.

 

How to start online Banking:

Step 01: To start online banking firstly you have to complete the Internet Banking registration form.

Step 02: To submit form to your bank.

Step 03: After receiving your registration from bank will process your request.

Step 04: After receiving your registration from bank will process your request.

Step 05: After processing bank will provide a password to access the service for the first time.  Bank sends you the password over telephone or to be mailed to your own email address.

 

What is done by Online Banking:

Online or Internet Banking is a secure and convenient access for customers to check their:

  • account balances
  • transfer money
  • review account history
  • request stop payments
  • view certificates of deposit
  • loan information
  • loan payments
  • check ordering
  • to monitor account
  • to download transaction
  • to  transfer funds between accounts, including checking, saving, and money market/CD accounts
  • to make  management investments
  • to transfer funds to their bank accounts
  • pay bills either electronically (with an account transfer) or by having the bank issue paper checks directly to the payee.

and  so on.

 

Benefits of Online Banking

  1. It delivers his  services 24/7 and 365 days  from any location all over  the world
  2. It is easy to use to handle
  3. It is more convenient
  4. It is secured and safe
  5. You can Banking  anywhere, any time and any place
  6. Only need password and internet connected PC
  7. Easy to sign online banking
  8. It is hassle free banking ,not need to present in bank arena
  9. The client can view his account when he wishes
  10. You can transfer fund through internet
  11. By It pays bills and mange his investments or loans
  12. Easy to make payment
  13. To manage your money instantly
  14. By online you can order cheques, to stop payments, to find image of cheque and upgrade your profile when you need.
  15. It is easy to manage credits
  16. To know account balances
  17. To easy to review account history
  18. To view certificates of deposit
  19. To possible to get information of your loan information and loan payments
  20. Shopping easily
  21. Not to carry the cash

 

Internet Banking

Internet Banking Internet Banking:What is Internet Banking? Internet Banking is a secure and convenient access for customers to check their: account balances transfer money review account history request stop payments …

SMS Banking

SMS Banking   What is SMS Banking? SMS Banking is a service that which allows customers to access their account information via mobile phone. SMS banking services are operated by …

INTERNET BANKING

Global list of internet banking

Global list of internet banking   First online banking services in the United States According to “Banking and Finance on the Internet,” edited by Mary J. Cronin, online banking was …