Online banking is performance of banking activities through Internet known as “E-Banking/Internet banking” or “Web banking.”
Characteristic of a good online bank is that it will offer consumers every service conventionally available throughout local branch, as well as accepting of deposits online or through the mail, interest on savings, and provision of online bill payment system. It enables performing transactions, payment over the internet. You can use banking 24 hours a day, all days in a week.
E banking has uses for individuals and Businesses both.
Secure and simple, Internet Banking for Business can help streamline your accounting processes and boost your output. Assess account balances, transfer money, and make payments and more. Benefits to business are:
Many business customers want every hour access to do their banking online can enjoy additional benefits of higher payment limits and various payment options.
Every minute is important in business world. A single click can give lots of results. Online banking solution makes the payments transferred within minutes, financial management of stopped payments. A single click of a computer facilitates cash management in a transparent way.
Reduce paper, efficient cash flow management and more autonomy over processing transaction when and where required.
Pays bills within minute Mobile banking added more flexibility and options. Electronic solution helps managing payable and working capital management in this regard.
It makes database of employee data, keep it secure and correct. Direct payment of salaries and making employee directly access his/her account through internet.
Despite unique features offered by online banking, there exist some risks too:
More volume of use, but still online banking is an increasingly smart goal for hackers.