Internet Banking and Benefits

Selasa, 17 Desember 2013

by Hashim
With the advancement in Information Technology the uses of internet are endless. The banking sector has decided to make best use of it. All the commercial banks are now ell equipped to provide various kinds of products and services to the consumer's right from the comfort of their homes. Internet banking also called online banking operates 24 hours a day and 7 days a week. Now the account holders can access their accounts from any where in the world. They only need a computer system connected with The "WEB"

Internet banking which is more familiar with the name of online banking is a full Internet based service. In order to access their accounts consumers need NOT to down load additional software's. User's operating system, browser and hard ware should be compatible and internet friendly.
Recommended operating systems related with the internet banking usually are:
Mac® OS X, Windows® 2000 and Windows® XP
Suitable browser For Windows PC's are internet Explorer® and Firefox®

For Apple Macintosh the suitable browser is safari™. .Besides this inter net banking requires additional settings for supported browser.
First Commercially Successful Internet Bank in United States
NetBank was established in 1996.NetBank claims to be the United States first commercially successful internet bank. Unfortunately the same bank was closed on September 28, 2007, by the Office of Thrift Supervision (OTS).
Internet Banking Benefits

• It provides banking facility around the clock.7 days a week 24 hours a day without keeping the branches open.
• Consumers need NOT to go to the bank and stand in long queues and wait for their turn to complete the transaction.
• Internet banking has simplified the opening and closing of a bank account without much paper work.
• Internet banking is cost effective and efficient. Now
• Due to lower costs internet banking increases the profit margin of the commercial banks.
• In online banking, security is really substantial since it includes finances and confidential data. We need to guard our account from hackers or stealer of our money. So internet banking has security features such user ID and password, card safety number, secured encryption site those with https post and anti-bug and firewall.