Computer has eased human life. Every day new dimensions of its utility are emerging. Electronic Banking is a boon to the society by computer technology. Use of computers have automated banking process and thus has given birth to eBanking. eBanking is a fast spreading service that allows customers to use computer to access account-specific information and possibly conduct transactions from a remote location – such as at home or at the workplace.
Benefits of Electronic Banking
– Real time banking : Unlike traditional banking which suffers from time consuming procedures, eBanking provides real time banking to the customers.
– Obtain relevant information about your account instantly.
– Access all the details about your account sitting at home or at any distant location. eBanking has turned whole world into a small village.
– 24/7 banking: eBanking has removed the time constraint from banking.
– Safe and secure Banking: Electronically enabled banking is more immune to security and safety related problems. Password Based Encryption (PBE), Secure Socket Layer (SSL), electronic signatures and electronic tokens gives a high level of security.
– Any malfunctioning or any inconsistency in your account can be traced easily. This makes eBanking more reliable.
– Easy Loans: Use of smart cards, debit cards, credit cards saves time consuming loaning procedures.
– High Performance and flexibility
Services Offered by E-Banking
- Answering routine queries
- Bill payment service
- Electronic Fund transfer(ETF)
- Electronic Clearing System(ECS)
- Credit card customers
- Railway Tickets
- Investing through internet banking
- Recharging your prepaid phone
- Shopping
