Here are all the best definitions What is online banking? We know online banking by other names such as Internet banking, virtual banking, web banking, and home banking.
It is a medium through which customers can transact money from one place to another through any website or mobile app and this service is available in all the banks of India.
Key points.
1. You can use online banking 24/7 banking service.
2. You can transfer money instantly through online banking.
3. You can easily deposit any bill like electricity bill, mobile recharge and other bills through this.
4. You can also see the mini statement and transaction story of all the transactions in your account.
5. You can transfer funds instantly to any bank through IMPS, NEFT, RTGS, and UPI.
6. You can invest in fixed deposits or mutual funds and many other investment schemes through online banking.
7. Customer support is available at all times on online banking apps or portals through live chat, email or call. If there are any online banking problems, then it can be resolved easily.
8. Always be cautious in online banking. Do not click on unknown links. Use strong passwords. Do not share your online banking details with anyone.
Let us understand when it started.
- It was first started in America and Europe in 1980, but due to the lack of internet at that time, this service was provided through telephone and computer terminals. So that customers could get information about their account.
- The internet developed in the year 1990 and along with it, there was a big change in the banking sector.
- Stanford Federal Credit Union is the first bank to provide online banking services.
When did it start in India?
In India, online banking was first started by (ICICI) Bank in 1996. In the year 2000, its popularity started increasing, and with this, it became a common way to access the bank accounts of customers.
Benefits of online banking?
- It is available 24/7.
- It has the facility of money transfer from anywhere.
- Saving time and money.
- Safe and fast transactions.
Some main points of online banking in India.
1. RBI issued guidelines to regulate.
2. Mobile banking was started in 2010 so that customers can do online banking through their mobile.
3. Digital India in 2016 and when the problem of demonetization came in India, digital payment and online banking increased significantly.
How does online banking work?
Earlier when there was no facility for online banking, people had to go to their nearest banks from far away. So that they can complete their banking process, but with online banking, this facility has become very easy, you can complete your transaction process from mobile banking or online banking using the banking browser from your mobile wherever you are.
What should be necessary to use online banking?
- You should have a good and good internet connection.
- When you want to get online banking, you will be given a user ID and password from the bank.
- Your mobile number should be linked to your account so that you can get security codes like OTP.
- Some things worth keeping in mind for providing security for online banking.
- Never share your password with anyone.
- Do not click on unknown website links.
- Your banking password should be changed from time to time.
How to process deposit cheques from online banking.
First of all, open the app browser of your mobile, go to the option of remote deposit capture in it, then capture the front and back photo of the check of your filled amount, in this way you can complete your deposit process.
Customer FAQ?
1. How to view account statement in online banking?
Log in to your bank’s online portal. Click on the ‘Account Statement’ or ‘Mini Statement’ option Select the period and view or download the statement.
2. What are the benefits of online banking?
24/7 access You can bank at any time of the day. Convenient No need to visit the bank, you can do banking from home. Fast transactions Money transfers and bill payments are done within minutes. Secure Transactions are made secure using modern encryption techniques.
3. How to contact customer support?
Check the ‘Contact Us’ or ‘Customer Support’ section on the bank’s website. You can use toll-free numbers, email, or live chat. Some banks also provide support through social media.
4. How to download a mobile app for online banking?
Open Google Play Store (Android) or Apple App Store (iOS) on your phone. Search for your bank’s name. Download and install the bank’s official app. Complete the registration process and log in.
5. What to do if an unauthorized transaction occurs?
Immediately call your bank’s customer care number. Ask to temporarily block your bank account. Visit the nearest bank branch and complain. Go to the nearest police station to lodge an FIR.