How E Banking Can Ease Our Lives Essay

(ii) One can easily pay their bills and transfer their money without any problem. Because of this people don’t have to stand in long queue and keep their receipt safely as transactions are viewed by the person at anytime.

Our Internet Banking Solutions make it easier to control your payables and receivables. For instance, you can arrange to receive alerts when payments are due or pending your approval.

In this the user has a account in any bank and registers for online bill pay service and pays all his bills using banks websites. The user is given user id and password by which he logins into bank's payment website and then he will be asked to type his transaction password. After which bank will deduct amount from his account and pay to seller with help of payment gateways. Payment gateways act as bridge between user's bank and seller. Eg.: CC Avenue

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

The service is available in multiple payment modes, online and through a network of agents. An instant confirmation is generated for the bill payments. The BBPS will transform the society from cash to electronic payment system, making it less dependent on cash.

Retail banking is, however, quite broad in nature - it refers to the dealing of commercial banks with individual customers, both on liabilities and assets sides of the balance sheet. Fixed, current / savings accounts on the liabilities side; and mortgages, loans (e.g., personal, housing, auto, and educational) on the assets side, are the more important of the products offered by banks. Related ancillary services include credit cards, or depository services. Retail banking refers to provision of banking services to individuals and small business where the financial institutions are dealing with large number of low value transactions. This

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

Internet banking renders location and time irrelevant, and empowers customers with greater control of their accounts. Banks achieve cost and efficiency gains in a large number of operational areas. This paper addresses the aspects of reliability and accessibility from a banking enterprise point of view and puts forth present day solutions to problems involving these issues. An Indian perspective of Internet banking is also looked at in order to gaining a better perspective regarding the situation.

The present project is Sever Integrated Banking is the easiest form of accessing one’s Bank account. The main objective of this project is to facilitate the Bank Customer to access his/her account without having needed to go to Bank or ATM. Now we can access our bank account and conduct a host of banking transactions and inquiries through Internet service. The Net Banking solution’s self-service capabilities empowers customers to manage their banking activities better. The general procedure is that the Customer has to go to near ATM/Bank in order to access his account. The main disadvantage of this system is, it is time consuming, costly and it is a tedious process to go there for every small work. The current project gives the best alternative. As it is 24 hrs available and has a maximum reach even to the places where banks are not available. Customers can make fund transfers to others, knowing all information regarding all policies and also customer can pay all bills through net only.

- Customers can get online or use smartphone application to manage account, pay bills, etc. from anywhere in the world.

Banks provide three types of services through online banking. (a) Information on different services and products offered by bank to their customers and for general public. (b) In this service, customers can apply for new services and products provided by bank, account balance queries, but no fund transections. (c) In this service of banking, customer can transfer funds, make bill payments, purchase or sale securities by bank, can subscribe to other products by bank.

Banking online is one of easiest and cheapest ways to access your account. Most financial institutions offer online services that include opening accounts, account inquiries, transfers, bill paying, an electronic account register, and access to important information regarding your financial institution. Another benefit of online banking is the 24-hour availability. E-banking, or electronic banking, is a banking system available through the internet. It can be used anywhere using ATM machines, the Internet, or a cellphone. E-banking services can be accessed no matter how far away you are from your financial institution. E-banking can also be used by anyone that has money and has an account. You can use e-banking to access most of the

Since the 1980’s, online banking has made the lives of everyday people more convenient. With the new innovations and creations to computers, online banking has grown to become the most used form of banking in the US (5). From the first ATM to mobile banking technology has helped shape One of the first computerized innovations to online banking, the credit card, revolutionized how cash was money was used in society.

Technological advancement has had a gigantic effect in the banking industry. Over the past few decades, the financial services industry has changed considerably with banking transforming from the pen and paper method to the computers and internet method. The pen and paper method took weeks or even months for the transaction to be eventually completed, and then the dramatic introduction of the computer and internet method which changed that time frame to only a matter of seconds to be completed, which reduced the amount of time and labor needed to complete a transaction significantly. Banking is considered one of the most important economic sectors with it being severely influential and responsive to any little change, whether it is domestic or international. Some extreme changes that were brought about by the development of this new technology turned into a globalized nature for the financial services industry. One stroke of a key on a computer could and would change a person 's life extensively or even have a global impact. The new technologies that were created and introduced changed how the consumers managed their money from that time on. Technology has helped to protect peoples’ hard earned money and make it much more impossible for people to be able to write out bad checks or even holding up a bank. The advancement in technology however, also came with some security risks as most things do, that could affect the money that people trusted with the bank and

Internet banking has made bank transaction easy and convenient in the sense that people can do the transactions from anywhere they, desire to i.e in the home, offices, and schools. It has helped to avoid unnecessary trips to the bank.