What Is Internet Banking? Features & Benefits You Must Be Aware Of

With the internet, it has become simpler and easier for banks to facilitate banking for you as a customer online. You can now operate your bank accounts, conduct balance enquiries, transfer funds, or endow standing instructions to your bank at any time from anywhere. It can be done with the assistance of internet banking by accessing the net banking portal or app of your bank.

You as an account holder just require providing a few details to conduct transactions with zero hand holding by banks. Once you input the details, it is evaluated by the bank through an OTP or additional code to authorize the fund transfer. For instance, suppose you have an IOB netbanking account, and through this account, if you want to transfer your funds from IOB to an Allahabad account, then you can simply do it from your IOB net banking account. You just need to select the transfer fund option on the IOB net banking to make the transfer from your IOB to your Allahabad account. Once the transfer is successfully done, you will receive a notification on your IOB net banking app or portal through which you transferred the amount. To crosscheck, you may check your Allahabad net banking to see if you received the amount from your IOB account. 

Thus, with net banking, you can make the most of the banking services in a cost-effective and hassle-free manner. Read on here to know more about internet banking. 

What’s net banking?

Net banking is an electronic system managed by the banks, which allows you to access the financial and non-financial banking systems, which allows you as a customer to access the financial and non-financial banking credit options online. Previously, you as a customer had to approach the bank physically for even minor services. However, post-arrival of net banking, almost maximum products, and services can be accessed through online mode. From transferring funds to requesting DD (demand draft), making the most out of the net banking facilities and all net banking essentials. This is not only convenient but even an extremely secure banking method.

What are the services available to you on your net banking portal?

How does internet banking function?

To benefit from internet banking, you as a customer must register for the net banking service with the bank. The basic things you must have to register yourself for internet banking are – 

What is the internet banking features you must be aware of?

Listed here are a few of the major features of internet banking, you must know to make the most out of this facility. 

How can you register for internet banking?

Most banks allow you to open an internet banking account as and when you apply for a new bank account. In case you do not hold an internet banking already, do the following – 

How can you register for internet banking online?

Apart from the offline registration, which includes submission of the net banking application form to the bank, you may register for the internet banking facility through the online mode from your respective bank’s official site. However, you must note that not all banks provide online registration for net banking services. 

Note that transaction and login password must be changed every two months to safeguard your internet banking account. 

Steps for internet banking login – 

After successful registration, you may follow the listed steps for logging into your internet banking account – 

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