E Banking Is The 24 Hour Availability

Internet banking refers to an online facility which provides an alternative channel for delivering banking or financial services and enables individuals to access their accounts anytime and anywhere through a bank’s web site (Z. Liao, Z., and M. T. Cheung, 2012). In other words, online banking named as E-banking, internet banking or virtual banking. Generally, the operation of online banking is connect to the core banking system designed by bank and then contrast to branch banking which refer to traditional way of bank customers accessed to banking services. Nowadays, internet banking is one of the most important businesses in electronic business around the world (Ariff et al, 2012). Most of the conventional banks have to operate and provide the online banking service to their customers as needs by

Moreover, bank would able to enhance the usage of internet banking by adding more services as customers required. Other actors concerns, among banks, their customers will be delighted by improving their services to their own customers. Then, actors like supermarket, shopping complex also able to gain from the internet bank usage of customers since it reduce the cost of transaction, unnecessary rush in the counters and it will help them to provide better service to the

The World Wide Web has changed our culture in so many ways. People are able to do so many activities over the World Wide Web, it is unbelievable. You can pursue a degree through online universities, communicate with users around the world, purchase goods and services online, and yes, you can bank and pay your bills online. This new technology has enabled us to make payments, maintain a checking/debit card account, balance transfers, all via the web. You can maintain your entire financial portfolio through online banks that provide this feature. There are online banks that can provide interactivity between popular financial management software programs, such as Quicken and Microsoft Money. When using

We can do our banking at home through the internet. For example we can set up and cancel standing orders through our online banking account. Transfer funds to other people, not just on a computer but now on our smartphones too. This technology has replaced the need for us to visit our bank and deal with a teller.

As their name suggests, they only execute their operations online. Customers can only be in contact with their money over the internet since they do not have any physical branches. Because online-only banks require lower overhead costs, they have the capability to offer more free services and higher interest rates compared to a traditional bank. Online banking provides many customers the convenience of handling their business at any physical location as long as they have access to internet. This is possible because of the variety of services that online banks provide despite limiting interaction to only the internet. Some of their services include applying for loans online, transferring funds and paying bills online. While the convenience of being able to access banking through the internet is worthwhile, there are limits to it. For example, making large deposits to the bank is limited and can only be made through the mail, they don’t service cashier checks for transactions, and withdrawing money from the account is very inconvenient. Luckily, the role of the internet in financial transactions is becoming increasingly prominent so that spending money online is more accessible, but it is important to understand both the benefits as well as restraints of online banking. Nowadays, many large brick-and-mortar banks have caught on and provide some online services in attempts to

These applications can contain personal account information, social security numbers, policy information and other information categorized as personally identifiable information. The banking applications allow their customers to scan and complete mobile deposits, check account balances and check loan application status’, to name a few. Each application varies in its level of security and also varies with what information is stored on the phone and how the information is transferred to the financial institution. Insurance companies allow the customer to check policy information and even file insurance claims through their applications. Automated teller machines are susceptible to having skimmers installed on them, which allow attackers to steal credit card numbers as the victim inserts the card into the ATM.

Presently, most companies require or encourage direct deposit for their employees. The banks really have an advantage in this process. A person will have to receive an ATM card for accessing their money, but the bank will also include a VISA symbol on the card. In some cases, the bank allows the VISA credit line to be used for overdraft protection. A consumer may be unaware that exceeding their checking balance by $5.00 causes the bank to draft $100.00 increments into the account from the credit line. This procedure can be deceiving to the customer.

In this essay I will be writing about Online Banking, its use, how it evolved, impacts and how it benefited the global businesses. In late 1980s, the term online banking became popular. But in 1990s, the financial institutions implemented the online banking services. Initially it took some time to adopt the customers to do monetary transactions through online banking. Afterwards, with increasing use of computers, internet and World Wide Web, banks introduced new form of banking called Online Banking. It is a service from a bank to perform banking transactions through internet. Transactions like paying bills, transferring funds, applications and payments over loans & mortgages, accounting statements viewing, viewing account’s transaction history, looking for products and services provided by banks, getting answers of queries instantly.

There are several advantages to having access to us bank internet banking. Customers who know their us bank login can access their account without having to speak with anyone in the customer service department. In addition to being able to check account balances anytime of day or night, customers who use us bank online banking can pay bills online, send money an deposit

accounts to obtain cash money or check available funds, etc. ATMs are available in banks and in facilities

Banking online is a recently developed convenience. How often do you forget to pay your bills? With online banking your bills are paid on time. You also have immediate access to your bank statements updated by the minute.

This Agreement and Disclosure is made in compliance with federal law regulating electronic funds transfers (EFT) services. Electronic funds transfers are electronically initiated transfers of money involving an account at the Financial Institution. The following disclosures set forth your and our rights and responsibilities concerning the electronic funds transfer. In this Agreement, the word "you" and "your" mean those who sign as applicants or any authorized user(s). The words "we", "us", and "our" mean the Financial Institution.

o Technology: In a technology driven world, it is important that banks in the industry ‘move with the time’. With respect to the big four, these banks have now introduced internet and cell phone banking as well as banking from the ATM; making the industry highly competitive. This technology aims to make banking for the client simple and accessible from anywhere. This new technology is aimed, once again, at the medium to high-income earning clients, who have access to these technologies.

Internet Banking (Internet banking): Computerized service that allows a bank’s customers to get Internet with the bank via internet or telephone lines to view the status of their account(s) and transaction history. It usually also allows them to transfer funds, pay bills, request check books and so on (Business dictionary., 2011)

Online or Telephone Banking – Most bank customers today don’t want to have to limit their bank business to standard office hours. Internet banking can be done at a time that is convenient for you, right from the comfort of home. Many companies also offer 24-hour phone service,