All sectors have changed their systems of working from manual processes to online methods and reaching their customers. Technology has helped in the progress of a country. The youth is the driving force of a nation. It requires services that are efficient and save time.
The internet is the most valuable tool for banking these days. From standing in long queues to transferring funds online, the journey was not comfortable. Though internet banking has simplified the lives of most of the people, it took lots of effort and innovation to succeed. They can now conduct all banking activities online, including transactions, bill payments, checking account balance, applying for loans and deposits, placing orders for cheque books, and more.
They use the bank’s website and net banking portal to get different services. With the help of e-banking, customers do not have to deal with a teller and a bank branch. They can use banking services without visiting the branch and from any corner of the world. They would require a PC or a smartphone with a secure data connection to log on to the portal and execute transactions. Here are the benefits it offers:
Convenience: Using online banking is extremely convenient for a bank account holder. They need not visit the bank to conduct different transactions. Use a laptop or personal computer, having a secure internet connection.
Available 24x7: With the introduction of smartphones, people can access banking services without a PC or laptop. Most banks have their apps to help them access their bank account at any time. They can also transfer funds and apply for loans instantly. Bank branches have timings, unlike websites which have unlimited features and functionalities without any restrictions.
Fund transfers: There is no need to use cheques or demand drafts to make payments. It is possible to make fund transfers to any recipient with a bank account using mobile banking. Individuals can use NEFT, RTGS, or even IMPS for transferring funds to their families or friends, ensuring they have sufficient balance in their account.
Services offered: These banking methodsprovide a wide range of services such as balance checks, account statements, submission of forms, view cheque status, fixed deposit summary, recurring deposit summary, etc. They offer lots of convenience and flexibility to customers.
Security: There are multiple payment apps, such as the BHIM app to facilitate cashless payments. They require authentication and passwords for access and prevent misuse of funds and information.
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harishchalke Joined: December 21st, 2020 Articles Posted: 7
