What is Electronic Banking (e-Banking)?
|e-Banking is one of the popular modern ways of getting the banking services using the internet. e-Banking is the way doing banking transaction through electronic machines(computer is widely used). For accessing e-banking systems, you just need internet enabled computer with a web browser. The e-banking systems are provided by most banks through a secure web site. With the help of the e-banking like system, we can manage the financial activities through the website of the service providing bank.|
Benefits of e-Banking System
Following are the benefits of e-Banking System
- e-Banking has no restriction of office time and opening hour of the banking branches
- We can make financial transaction from anywhere, where the internet services are available.
- No more hassles of carrying the hard cash money
- You need not remain in a long queue, so it will save lots of time.
Services of the e-Banking system can be categories into
- Non-Transactional Tasks
- Viewing account information and balances
- Viewing recent transactions
- Viewing/Downloading/Printing Bank Statements
- Ordering cheque books
- Transactional Tasks
- Fund transfer between different account of same and other banks
- Paying utilities bills
- Purchase of goods through Debit/Credit card on Point of Sales (POS).
- Different banking administrative tasks
Forms of e-Banking System
There are different forms of the electronic banking systems available in Nepal, some of them are:
- ATM- Automatic Teller machine : Used for the cash withdraw from ATM-Booth and transfer of the money from one account to another.
- Debit/Credit Card :Used for the transaction of money in POS, ATM etc. Can used for paying bills.
- Electronic Fund Transfer System (EFTS) : Used for online banking system for transactional and non-transactions activities through the internet