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Internet Banking

  • Date Submitted: 10/24/2013 06:36 AM
  • Flesch-Kincaid Score: 56.6 
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Internet Banking refers to the banking services provided by the banks over the internet. Some of these services include paying of bills, funds transfer, viewing account statement, etc. Banks also deliver their latest products and services over the internet. Internet banking is performed through a computer system or similar devices that can connect to the banking site via the internet. Nowadays, you can also use internet banking on your mobile phones using a Wi-Fi or 3G connection. With the ease of availability of cyber cafes in the cities, internet banking has become quite popular.
Banking is now no more limited in going and visiting the bank in person for various purposes like depositing and withdrawing money, requesting for account statement, stop a payment, etc. You can do all these tasks and many more using the internet banking services offered by the banks. You can also keep a track of your account transactions and balance all the time. Now getting passbooks updated to know the total account balance is a matter of past.

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Services offered by online banking

Internet banking account is easy to open and operate. The services offered by banks over the internet might differ from bank to bank, and from country to country. To know about the services which your bank is offering, always go through the welcome kit that you get at the time of opening the account. You also get your password for internet banking which you are supposed to keep with great care for security reasons.

The common internet banking services offered by banks are:

  • Transactional activities like funds transfer, bill pay, loan applications and transactions.

  • Non-transactional activities like request for cheque book, stop payment, online statements, updating your contact information.

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Advantages of Internet Banking

Internet Banking has several advantages over traditional banking which makes operating a bank account simple and...

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