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

  1. e-Banking has no restriction of office time and opening hour of the banking branches
  2. We can make financial transaction from anywhere, where the internet services are available.
  3. No more hassles of carrying the hard cash money
  4. 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

  1. Non-Transactional Tasks
    1. Viewing account information and balances
    2. Viewing recent transactions
    3. Viewing/Downloading/Printing Bank Statements
    4. Ordering cheque books
  2. Transactional Tasks
    1. Fund transfer between different account of same and other banks
    2. Paying utilities bills
    3. Purchase of goods through Debit/Credit card on Point of Sales (POS).
    4. 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:

  1. ATM- Automatic Teller machine : Used for the cash withdraw from ATM-Booth and transfer of the money from one account to another.
  2. Debit/Credit Card :Used for the transaction of money in POS, ATM etc. Can used for paying bills.
  3. Electronic Fund Transfer System (EFTS) : Used for online banking system for transactional and non-transactions activities through the internet
List of major banks(Class A ) who provided e-Banking in Nepal
1) Nabil Bank Ltd. 17) Sunrise Bank Ltd
2) Nepal Investment Bank Ltd 18) Lumbini Bank Ltd
3) Siddhartha Bank Ltd 19) Nepal SBI Bank Ltd.
4) Kumari Bank Ltd 20) NMB Bank
5) Everest Bank Ltd 21) Global IME Bank Ltd
6) Mega Bank Nepal Ltd 22) Himalayan Bank Ltd
7) Laxmi Bank Ltd 23) Standard Chartered Bank Ltd
8) Civil Bank Ltd 24) NIC Asia Nepal Ltd
9) Machhapuchre Bank Ltd 25) KIST Bank Ltd
10) Bank of Kathmandu 26) Janata Bank Nepal Ltd
11) Prime Commercial Bank Nepal Ltd 27) Nepal Credit and Commerce Bank Limited
12) Nepal Bangladesh Bank Ltd 28) Citizens Bank International Limited
13) Nepal Bank Ltd 29) Grand Bank Nepal Limited
14) Rastriya Banijya Bank Ltd 30) Commerz & Trust Bank Nepal Limited
15) Agricultural Development Bank Ltd 31) Century Commercial Bank Limited
16) Sanima Bank Ltd