Internet Banking Definition | Onlinebankingconsultant.com

Learn the definition of internet banking and of the various features and security issues forming part of this online service.

What is internet banking?

Internet banking is the system of electronic payment which makes it possible for the customers who are associated with any of the financial institution to carry out the financial transactions on the website of the institution. This method of banking can be carried out in the websites of building society, credit union, virtual bank, retail bank, etc. The online banking can even be called as virtual banking, e-banking as well as internet banking. For accessing the online bank facility of the financial institution, the customer need to have internet connection and also should be registered with the institution for availing the service and also can set up some password for the purpose of the customer verification. The password that is associated with online banking cannot be something that is similar to telephone banking. Read below the features and security of internet banking.

Internet banking


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Online banking features

Banking online go so far as to allow individuals various things like viewing recent transactions, balances, bank statements and paid checks etc. It is possible for ordering the check books also through this kind of banking system. It also makes fund transfers much easier than having to stand in line at the bank. There are chances for many of the things to be much easier through the usage of internet banking.

Security

It is necessary for the information of the customer to be really secure by the banks when they are having online banking facilities. Most of the banks implement the finest security measures for this purpose. There are chances for the individuals to really make use of all this in much better manner. There are many of the people who try to somehow leak out the credentials used online to loot the accounts.