Electronic banking is a method of banking in which the customer
conducts transactions electronically via the internet. Facility to
securely access funds, account information and other banking
services through a pc over a wide area network or internet. Also
called electronic banking.
E-banking is a safe, fast, easy and efficient electronic service that
enable you access to bank account and to carry out online banking
services, 24 hours a day, and 7 days a week.
With this service you save your time by carrying out banking
transactions at any place and at any time, from your home or office,
all you need is internet access.
E-banking enable the following
- Accurate statement of all means available in your
- Statement of current account, credits, over drafts
and your deposits
- Execution of national and international transfers in
- Exclusion of all types of utility bill payments
(electricity, water supply, telephone bills, etc… )
- Carrying out customs payments
- Electronic confirmation for all transactions
executed by E-banking
- Management of your credit cards
E-banking is a product designed for the purpose of online banking that
enables you to have easy and safe access to your bank account.
Online banking, also known as internet banking, e-banking or virtual
banking, is an electronic payment system that enable customers of a bank or
other financial institution to conduct o range of financial transactions through
the financial institution’s web site. The online banking system will typically
connected to or be part of the core banking system operated by a bank and is
in contract to branch banking which was the traditional way customer accessed
to access a financial institution's online banking facility, a customer with
internet access will need to register with the institution for the service, and set
up a password and other credentials for customer verification. the credentials
for online banking is normally not the same as for telephone or mobile
financial institutions now routinely allocated customer numbers, whether or
not customer have indicated an intention to access their online banking facility.
customer numbers are normally not the same as account number. because a
number of customer accounts can be linked to the one customer number.
technically, the customer number can be linked to any account with the
financial institution that the customer controls. through the financial institution
may limit the range of accounts that may be accessed to say, cheque, saving,
loan, credit card & similar accounts.
the use of computer to carry out banking transactions such as withdrawals
through cash dispensers or transfer of funds at point of sale.
Various forms of E-banking
-Internet banking: internet banking helps your
manage many banking
transaction online via your pc.
-Automated teller machine(ATM)
-DEBIT card:- master card debit card
- points of sale
-E-CHEQUE & other forms of electronic banking.
A more secure method is to require possession and use
of tamper-resistant plastic cards with microprocessor
chips, known as “smart cards,” which contain a stored
password that automatically changes after each use. When
a user logs on, the computer reads the card's password, as
well as another password entered by the user, and
matches these two respectively to an identical card
password generated by the computer and the user's
password stored in the computer in encrypted form.
Use of passwords and 'smart cards' is beginning to be
reinforced by biometrics, identification methods that use
unique personal characteristics, such as fingerprints,
retinal patterns, facial characteristics, or voice recordings.
Automated Teller Machine
First introduced in the 1980s, ATMs are now
common in most countries. Banks prefer that
customers use ATMs for most transactions
because the machines are inexpensive to operate
compared to the cost of paying human tellers.
Debit or credit card
Increasing commercial use of the Internet has heightened security
and privacy concerns. With a credit or debit card, an Internet user
can order almost anything from an Internet site and have it delivered
to their home or office. Companies doing business over the Internet
need sophisticated security measures to protect credit card, bank
account, and social security numbers from unauthorized access as
they pass across the Internet (see Computer Security). Any
organization that connects its intranet to the global Internet must
carefully control the access point to ensure that outsiders cannot
disrupt the organization’s internal networks or gain unauthorized
access to the organization’s computer systems and data.
Instant messaging is another key feature of computer
telecommunications and involves sending text, audio, or video data in
real time. Other computer telecommunications technologies that
businesses frequently use include automated banking terminals and
devices for credit card or debit card transactions. These transactions
either bill charges directly to a customer’s credit card account or
automatically deduct money from a customer’s bank account.
Electronic Point of Sale (EPOS), system used in
retailing in which a bar code on a product is
scanned at a cashier’s station and the information is
relayed to the store computer. The computer relays
back the price of the item to the cashier’s station.
The customer can then be given an itemized receipt
while the computer removes the item from stock
EPOS allows for efficient computer stock control
and reordering, as well as giving a wealth of
information about turnover, profitability on
different lines, stock ratios, and other important
Electronic fund transfer
Electronic Funds Transfer (EFT), method of
transferring funds automatically from one account
to another by electronic means. One example is
electronic funds transfer at point of sale
(EFTPOS), which provides for the automatic
transfer of money from buyer to seller at the time
of a sale. A customer inserts a plastic card into a
point-of-sale computer terminal in a supermarket,
for example. Telephone lines are then used to make
an automatic debit from the customer's bank
account to pay the bill.
Tele banking is telephone banking. you have to
dial with stipulated number &leave your
intentions at any time and the bank will execute
the transactions. now this has become obsolete.
you can do your hand provided you have
internet banking facility & one android phone
with net connectivity.
No need to handle
One advantage of electron banking is that the financial
institution picks up the cost of handling for instant, if
you use bill pay to send money to the a friend, of check
and reading the envelope. In addition the bank pay for
the postage to mail the envelope, so there’s a cost
savings involved. Finally, you don’t have to remember
to mail the payment, as the bank takes care of that.
Advantage of E-banking, E-banking which includes any
transaction you perform using the internet or a mobile
device, is becoming more common. making electronic
payments, paying bills and transferring money between
accounts all elements of E-banking, which can be done
from your cell phone or computer.
One of the major advantage of online banking is its
convenience. Customers can make transaction and
access data 24 hours a day, seven days a week from
most devices with internet access.
Mobile banking makes the process even more
convenient thanks to applications that allow you to
make deposits from your phone no matter where you
The internet tends to speed the pace of translations.
Loss of human touch
Some people still value taking and interacting with bank
tellers. managers and other bank tellers, managers and
other bank clients. electronic banking takes the majority
of these ’’human interactions’ ’away, leaving the
banking experience as a very hands-off, impersonal
banking without walls
more banks are closing branches due to increased use of online
banking, according to the Harvard business review. while this helps
financial institutions cut costs, it represents a disadvantage for
consumers who prefer to make some banking transaction face-to-
face security and trust can be critical in deciding where to open a new
account or how to handle a complex transaction. when people can't
get the personal service they need online, they may go to another
institution that offers both traditional branches and electronic
while electronic banking generally is secure, the potential for a data
branch is one of its biggest disadvantage. financial institutions must
have valid security certificates and a customer authentication process.
if hackers do break into a system, the problems resulting from
identity the following can wreak havoc with your credit. in addition,
scammers spoof banking website to lure customers into giving
personal information to criminals. if you enter your login
information into a scammer's page, he can access your funds and
siphon them off into his own accounts.
Notes de l'éditeur
to access a financial institution's online banking facility, a customer with internet access will need to register with the institution for the service, and set up a password and other credentials for customer verification. the credentials for online banking is normally not the same as for telephone or mobile banking. financial institutions now routinely allocated customer numbers, whether or not customer have indicated an intention to access their online banking facility. customer numbers are normally not the same as account number. because a number of customer accounts can be linked to the one customer number. technically, the customer number can be linked to any account with the financial institution that the customer controls. through the financial institution may limit the range of accounts that may be accessed to say, cheque, saving, loan, credit card & similar accounts. the use of computer to carry out banking transactions such as withdrawals through cash dispensers or transfer of funds at point of sale.
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