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Thursday, October 30, 2008


ONLINE BANKING: Online banking/e-banking/Internet Banking/Home Net Banking/ Remote Banking.... what the name it is the Online Banks provides access to operate the banking transactions from Internet to their customers.
Facilities: Account view; Cheque inquire;Account statement; Delivery of signed A/c statement;Cheque book issuance;Funds transfer to own A/c; Payment of Taxes; Bill payments, Money Transfer to third party A/c of Internet enabled Bank etc.,
All the Banks not offer all the facilities shown above. You may choose the right bank according the things suit to you.
BANK APPLICATION: The online enrollment form will be available on the web site of the concerned banks.You can download the application form from the web site.Initially you will be allotted an User Id and password to your bank A/c. You may be asked to change your password/Pin number after the A/c open procedure is over to secure your banking transactions.The information will be sent to you through a e-mail box which is operated between you and the Bank. You will receive your password information separately from the bank.
ACCOUNT TYPES: (1). Personal Banking- for individual banking activities.
(2). E-commerce-for business activities(3). D-mat-for Share capital activities(4). Virtual bank A/c(newly added by some banks)
A/c MAINTAIN RULES: Minimum balance to be maintained=$ 1500 (in general)
Maximum amount of bill pay( per day)=$ 5000(in general)
Maximum amount for fund transfer( per day)=$ 15000(in general)
Some banks allows '0' balance to open an Internet bank A/c.
Note: The A/c type and services offers varies from bank to bank.
AGREEMENT WITH THE BANK (SERVICE AGREEMENT): This is between the servicing bank and you to provide Home Banking Services via its web site that you are enrolled for online banking service and sets forth the terms governing the provision of electronic banking services to you and authorise by you to access your A/c via online banking.
BANK A/C SECURITY: Internet Banking is a secure, Internet-based service that gives you convenient and 24-hour a/c access . Key taken information security very seriously and is committed to protecting your personal information with Bank through your personal identification(user ID) and password. The Bank advice you to create a unique password for your security.
ADVANTAGES AND DIS-ADVANTAGES: As usual online banking has both advantages and dis-advantages. The following are some advantages :
(1). It is convenient.
(2). Allows access the a/c from any where and at any time.
(3). Easy process of bills payment.
(4). It is fast,efficient and accurate.
(5).Facility of multiple accounts operation and maintenance.
(1). Delay at the start up process.
(2). Lack of ATMs (most cases )
(3). Inability to access the Internet banking at the un-secured Internet connection.
On the whole the advantages are when compared with the disadvantages.
ONLINE BANKING FRAUDS: It related to thefting of money from one's account and transfer to another bank a/c by using online technology. The online cheaters theft the identity of the online bank customers by using different thchniques(ex:phishing). Many number of Internet bank customers( world wide ) lost their money by this type of scams. So, the online bank customers have to follow some useful tips given below to avoid banking frauds.

* No banks asks your identity particulars through e-mail. Hense you don' t reveal your personal identity particulars to anybody.

* Set a unique password that won't findable by others.

* Check regularly your net work computer with anti-virus and anti-spyware programs.

* Don't leave up in the middle from your bank's web site without logout.

Know more about online banks------>


Twin said...

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jeetu said...

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