As the name suggests, here in this article we would be getting to know about the basics of E-Banking, its uses and how it make banking services more accessible to both rural & urban population worldwide.
What is E-Banking?
E-Banking or electronic banking is a product or service that has been designed to make banking facilities easier to access, irrespective of bank customer’s location and also overhaul its security features in complete.
Benefits of E-Banking
You can access your bank account online equipped with internet access:
- 24 hours a days
- 7 days a week &
- Both At Home or Office
No more banking business or activities coming to a standstill during public holidays or any other holiday.
Some of the popular Devices that support E-Banking
- ATM (Automated Teller Machines) &
- CDM (Cash Deposit Machines)
E-Banking enables its users to
- Have a look at your bank account statement in paperless mode on the go.
- You can have look at the statement of your Current Account, Credit, Overdraft Accounts & Fixed Deposits.
- You can do both local and international transactions in both local & international currencies respectively.
- Pay Utility bill payments like electricity, water supply & telephone bills, etc.
- Credit card management
- Receive e-confirmation of all E-Banking transactions via text messages on mobiles and emails.
- Making custom payments & much more.
Security Precautions while using E-banking services
To have a safe and secure online banking experience follow the below precautions whenever you are online:
- Always create a password i.e. alphanumeric, at least 8 characters long.
- It should be hard to guess or unable to be generated by persons with ill-will.
- Never share your passwords with anyone, not even with the bank employees.
- Disable save password option in your browser.
- Never access your online banking services on public systems or public WiFi.
- Never keep your e-banking login credentials written on a paper.
- Always access only those banking portals that have a digital security certificate on the top-right corner of your browser. &
- Access your bank’s portal for more security advisories.
To conclude, E-banking revolutionized the way the world does banking and it is still re-inventing itself.
Read More: Brief information about E-Banking!