Online banking allows you to bank easily wherever and whenever. With E-Banking, you can perform banking transactions on your schedule and whenever you need it most. You cannot find such rich features and benefits offline through traditional banking methods. You can also control your finances effectively and get instant access to essential financial tools on the go. Moreover, you can utilise it as often as you’d like.
How does Net banking work?
To benefit from net banking, customers must register for internet banking at the bank.
- Individuals having an active account at any bank or financial institution can register for internet banking.
- For net banking to work correctly, you need a personal computer, laptop or mobile phone and a good internet connection.
- After registering, the bank issues a unique customer ID and password to log in to the net-banking portal.
How can you register for Net Banking?
If you are new to the fundamentals of net banking, you are required to open an internet banking account. Many banks open an internet banking account for the customers when they apply for a new bank account.
If you have an online banking account, you can submit the Internet Banking Application Form at your branch with the required documents, including your copy of the bank passbook, Aadhaar card, etc. Once verified, the bank will issue a customer ID and password for internet banking. Then, you can download the application from your bank’s official website. After receiving the credentials, you can log in and access net banking.
Some critical features of Net Banking include:
- It is a secure and convenient banking method and has a Password-protected banking system.
- You get easy access to financial and non-financial banking products and services and get access to your bank account, anywhere, 24/7.
- You can track and manage your bank balance, last transactions, statements, and much more. And transfer your funds online via NEFT, RTGS, IMPS anytime.
- You can process your bill payment quickly and keep track of your mortgage payments, loans, savings account, etc.
- And lastly, you can channelise or cancel automatic payments.
A Few advantages of Internet Banking:
- You can easily avail of banking services anytime around the clock and throughout the year. Most of the services offered by E-Banking are not time-restricted. For example, you can check your account balance at any time and transfer funds without needing to wait for the bank to open.
- You can complete transactions via Net Banking or even UPI within a few minutes. Moreover, you can transfer funds to any account within a country, or you can even open a fixed deposit account within no time on net banking.
- You do not have to leave your chores behind and stand in a queue at the bank branch. You can complete your transactions from anywhere. Pay utility bills, do your mobile recharge, schedule recurring deposits account instalments, and others using online banking.
- Using the services provided by online banking is simple and easy to operate. Many people find online transactions a lot easier than visiting the branch.