Internet banking is at times referred to as online banking. One can make transactions through online banking which is made possible through the electronic payment system.
Online banking normally is a core banking system as it involves various activities which are normally carried out in every bank.
Financial institution are updating their institutions in such a way that one can make a transaction online. For a business to prosper this is very important. Availability of internet has enabled online banking to be successful.
This makes it possible for everyone to conduct even their transactions at home without any time wastage and the process is very accurate. While using this services one can make the required transactions as the banking portal provides services such as personal banking and also corporate banking.
In order to have access to a financial institution’s online banking facility, a customer needs Internet.
When with internet this makes it possible for registration with the institution for the service which is required and this makes everything easy. One is also able to fill his/her detail and also set a PIN. Internet banking is very different to mobile banking.
The financial institution normally allocates a customer number to all its customers. An account number is totally different from the customers number. But this customer number can be linked to a certain account number. A customer number is linked to an account number which a certain customer has control on thus they are joined together.
Financial institutions normally limits the range of account that might be reached such as cheques, savings, credit card and also the similar accounts. A customer normally visits the financial institution secure website. When the customer visits the website it makes it possible to have an online platform for where the customers details are filled.
The benefits for online banking information include; permanent access to the bank. With the availability of the computer one can access the bank at any point.
While using mobile banking there is less time consuming and also we need not to go directly in to the bank. This online banking is very secure as the money is transferred accurately and immediately. It is an easy way to use and it consumes less time as compared to other forms.