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Internet Banking

  • Date Submitted: 09/14/2011 11:18 AM
  • Flesch-Kincaid Score: 40.9 
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Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.

    1 Features
    2 History
    3 Security
    4 See also
    5 References
    6 External links

[edit] Features

Online banking solutions have many features and capabilities in common, but traditionally also have some that are application specific.

The common features fall broadly into several categories

    Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer, apply for a loan, new account, etc.)
        Payments to third parties, including bill payments and telegraphic/wire transfers
        Funds transfers between a customer's own transactional account and savings accounts
        Investment purchase or sale
        Loan applications and transactions, such as repayments of enrollments

    Non-transactional (e.g., online statements, cheque links, cobrowsing, chat)
        Viewing recent transactions
        Downloading bank statements, for example in PDF format
        Viewing images of paid cheques
    Financial Institution Administration
    Management of multiple users having varying levels of authority
    Transaction approval process

Features commonly unique to Internet banking include

    Personal financial management support, such as importing data into personal accounting software. Some online...


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