Overview
Learn about internet banking services, how to register, perform transactions, and ensure security for online financial activities.
Internet Banking (Net Banking)
Internet banking, also known as net banking or online banking, allows customers of a bank or financial institution to conduct financial transactions on a secure website operated by the institution. It eliminates the need to visit a physical bank branch for most services.
Key Features and Services:
- Account Management: View account balance, transaction history, and download statements.
- Fund Transfer: Transfer money between own accounts, to other accounts within the same bank, or to other bank accounts using NEFT, RTGS, or IMPS.
- Bill Payments: Pay utility bills (electricity, water, gas, phone) and credit card bills.
- Fixed/Recurring Deposits: Open or manage fixed and recurring deposit accounts.
- Loan Applications: Apply for various types of loans.
- Cheque Services: Request cheque books, stop cheque payments.
How to Register and Use:
Typically, you need to register for internet banking at your bank branch or through the bank's website. You will receive a User ID and Password (login password and transaction password). Always use a strong, unique password and never share it.
Security Tips:
- Always access your bank's website by typing the URL directly, not through suspicious links.
- Look for 'https://' and a padlock icon in the address bar.
- Do not share your User ID, passwords, or OTPs (One Time Passwords) with anyone.
- Log out properly after completing your transactions.
- Regularly change your passwords.
Exam Tip:
Understand the difference between login password and transaction password in internet banking. Know the various fund transfer options available (NEFT, RTGS, IMPS).