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What is Internet Banking? Advantages of Internet Banking

Internet Banking provides the facility to the customers to conduct financial and non-financial transactions from their net banking account. With this, you can easily do online shopping, money transactions etc. through computer or mobile phone. In this article, we will know what is Internet Banking and what are the advantages of Internet Banking.

What is Internet Banking? Advantages of Internet Banking

What is Internet Banking

Internet Banking is a system that allows a customer to conduct financial and non-financial transactions from his net banking account. Bank account holders can do Money Transfer, Bank Account Balance Check etc using Net Banking Account, RTGS, NEFT etc. The resources used by the customer can be electronic devices like computers, laptops or mobile phones. The Internet is the medium that makes technology possible.

Internet banking facility provided by banks to their customers uses the Internet as a medium. The services under this facility include fund transfer, payment of bills, opening of online bank accounts and much more. Internet Banking facility is provided through banks and the customer should be an account holder with any bank to avail the facility available.

Advantages of Internet Banking

Internet banking has many advantages, which are as follows:

  1. Customers get permanent access to their bank anytime and anywhere.
  2. This saves the valuable time of the customer.
  3. Quick and secure transactions.
  4. Instant Fund transfer helps the customer at the time of urgent need of funds.
  5. Customer can view account details.
  6. The customer can know the details of the transactions done by the concerned bank in a given period.
  7. Bank statements, different types of forms, applications can be downloaded
  8. The customer can buy and sell on the e-commerce platform.
  9. Customers can book Transport, Travel Packages and Medical Packages.
  10. Customer can do fund transfer, pay any kind of bill, do mobile recharge, DTH connection etc.

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