Home
Finance Resources
Investment Planning
Banking
Finance
Stock Market
Futures & Options
Trading
Mutual Funds
Insurance
Taxation
Enquire
Home » Banking » Easy Banking » Net Banking

Net Banking: An Easy Banking


Net Banking is conducting ones banking or bank account online through a computer and a net connection. The system is updated immediately after every transaction automatically. In other words it is said that it is updated 'on-line, real time'. Through net banking one can check the status of his/her account, place queries and also can be facilitated with a wide range of transactions simultaneously.

In India, the regulatory body has not yet sanctioned virtual bank, in abroad there are banks like EGG Bank or NET Bank, which only have a virtual presence without any physical branches.

Net Banking has three basic features. They are as follows:

  • The banks offer only relevant informations about their products and services to the mass.
  • Few banks provide interaction facility between the banks and its customers.
  • Banks are coming up with arrangements of utility payments, like telephone bills, electricity bills, etc.

The current statistics show that hardly 10 per cent of Indian customers uses the internet for banking. Among all the facilities provided the maximum of them uses only for checking balance or requesting for a cheque book. Very few customers uses the advance interactive services provided by the banks.

According to HDFC and ICICI Bank, 17 per cent of ICICI customers use the Internet for banking and 10 per cent of HDFC customers prefer it.

Cost of installation of services

For basic features, the cost for providing such services to the banks come around Rs 40 lakh to Rs 50 lakh. For the third level service or sophisticated services, the investments mount to the tune of Rs 4 crore to Rs 5 crore. These investments are just a fraction if compared to the operations of the bank using physical infrastructure.

Services provided by Net Banking

Queries
  • Check Balance.
  • See Statement.
  • Inquire about cheque status.
  • Ask for a Statement.
  • Ask for a Cheque Book.
  • Inquire about Fixed Deposit.
  • Inquire about TDS details.
  • See Demat Account.

Transactions
  • Stop a Cheque.
  • Pay Bills.
  • Ask for a Demand Draft.
  • Transfer funds between your accounts..
  • Transfer funds to a third party.
  • Request for a new Fixed Deposit.
  • Shop Online..
  • Pay Bank Credit Card Dues.

Advantages of Net Banking
  • It removes the traditional geographical barriers as it could reach out to customers of different countries/legal jurisdiction. This has raised the question of jurisdiction of law/supervisory system to which such transactions should be subjected.
  • It has added a new dimension to different kinds of risks traditionally associated with banking, heightening some of them and throwing new risk control challenges.
  • Security of banking transactions, validity of electronic contract, customers' privacy, etc., which have all along been concerns of both bankers and supervisors have assumed different dimensions given that Internet is a public domain, not subject to control by any single authority or group of users.
  • It poses a strategic risk of loss of business to those banks who do not respond in time to this new technology, being the efficient and cost effective delivery.


Back



Keywords:

banking service,easy bank,Mobile Banking, SMS Banking, ATMs, Net Banking, banks in india, reserve bank,Mobile Banking, SMS Banking

Domain Registration | Windows Hosting | Linux Hosting | Java Hosting | Virtual Dedicated Server | Dedicated Server | Reseller Web Hosting | Unlimited Windows reseller hosting | Unlimited Linux reseller hosting | Cheap Windows reseller hosting | Cheap Linux reseller hosting | Cheap Windows hosting | Best Windows hosting | Windows hosting Multiple Domains | Unlimited Windows hosting | Compare hosting plans | Cheap Linux hosting | Best Linux hosting | Linux hosting Multiple Domains | Unlimited Linux hosting | Cheap asp.net hosting | Best asp.net hosting | unlimited asp.net hosting | Cheap asp.net reseller hosting | Unlimited asp.net reseller hosting | Java Features | Cheap Java hosting | Best Java hosting | unlimited Java Hosting | Unlimited Linux reseller hosting | Java Hosting Multiple Domains| | Matargashti Full Song | Matargashti mp3 Download | Matargashti Video Download | Matargashti Song Tamasha | Prem Ratan Dhan Payo Songs Download | Prem Ratan Dhan Payo Songs mp3 Download | Prem Ratan Dhan Payo Songs Video Download | Pinga Song Download | Pinga Full Song mp3 Download | Pinga Song mp3 Download | Pinga Song Video Download | Latest Bollywood Updates | Bollywood Updates | Prem Ratan Dhan Paayo Songs Download|
© ProfitGuruOnline-2024. All Rights Reserved.