What is internet banking and how to start?

 Nowadays when people go to the bank to open a bank account, they say in advance that I need the service of net banking with ATM card, so that is why they know what internet banking is and how is Net Banking?

People often have a variety of jobs from the bank. For which they have to travel many times to the bank and have to stand for hours in a long line. But the youth of today do not want to stand in the long line and want that all the work that we do by going to the bank should be sitting at home.

This is the reason that now everyone has started using internet banking. Even though not all the work can be done with internet banking, but a lot of important work for which you have to stand in line is done with the help of it within minutes of sitting at home. What is Internet banking and what are its benefits, we will also know further in this post.

Internet Banking is such a facility provided by the bank, through which customers can get all kinds of information related to their account from their home.

You can send money to anyone with the help of Internet banking from your mobile or computer sitting at home. But we will discuss about how to send money from internet banking and how it works, but before that we know what internet banking?

What is internet banking

Internet banking allows a user to conduct financial transactions through the Internet. Internet banking is also called online banking or web banking.

With the help of this, all the work which had to be done by the banks, shopping malls, electricity department, all of them can be completed very easily from their smartphone or computer while sitting at home. Paying electricity bills is a very painful task, which we can accomplish very easily sitting online at home.

Along with this, we also do mobile recharge or shopping from home. There is no need to go to the bank for sending money to a relative.

In online banking, consumers do not need to go to the key to complete their basic banking transactions. That is, they can complete their kind of work by staying at home, at work or traveling.

To use this service, the consumer has to go to the bank and apply to start the service of online banking, after which online banking is started by the bank.

After registering, the bank gives its customer a user ID and password using which the bhakta can access his account from anywhere and can also use the facilities provided in it.

Different types of facilities are also offered in online banking by different banks, but which are basic services like transferring money and paying bills, it happens in everyone.

The bank not only offers its UCO online, but also provides the facility to open an account and apply for a credit card. There are also many banks which also provide the facility to change the address to prevent payment on order.

Checks can now be deposited online through a mobile app, the customer only has to take a photo of the front and back of his check, after which the amount has to be filled and then this process is completed.

The facility of traveler's check, bank draft and some wire transfer is not provided in net banking, it is necessary to be in front of bank representative to complete these services.

How does internet banking work?

As we already know that Internet Banking is also called E-Banking, it consists of 3 parties - Bank, Consumer and Merchant. There are some situations where the bank and the consumer together complete the transaction and the consumer starts the transaction.

For this, he performs either online or ATM transactions after which the request is either approved or rejected, which depends on his ATM card and his details. When the process is complete, the funds that are from the chandelier reach the account of the other consumer.

To use online banking, first one has to go to his bank branch and apply, after which he is given the user ID and password.

E-registration will be done at the time of online banking application, which provide security to the account in a way.

Whenever the consumer starts running, only the OTP number and card number are asked to complete it. Different banks are given different security methods. The transaction can be completed only after the verification is completed. .

Transactions cannot be completed successfully even by just knowing the user ID and password, the mobile number gives a lot of security to the incoming OTP account.

This is a feature that we get with a bank account and through this we can access our account in this way.

1. A computer so that we can access the bank account through the website.

2. A phone through which we can open the website and the app.

3. You can open both a tablet website and a bank app.

How to turn on Net Banking?

For this, first you have to go to the branch of the bank where you have an account and you will have to ask if they offer online banking facility. Or can you tell us the process by which you can start this service.

If your bank does not provide the facilities then you can look for a better option. It can be started in two ways.

When you come to know that this facility can be availed in your bank, then you have to fill a registration form and also provide your mobile number for OTP, after which you are given post user ID and password. .

These details are required to use Internet banking.

➤ Your username or customer number

➤ Password

➤ Additional information such as birthplace or date of birth

After obtaining this information, enter it in your secret and safe place and keep it. Do not write these information in debit card or passbook. Whenever you go to login to get an account, you will need ID etc.

There is another way which is not found in all banks. In this, you have to go to the official website of the bank and go to the online banking page and give the information asked, after which the details will be sent to you and in this way your account will be registered, after which you will be able to use net banking.

History of internet banking

Along with the World Wide Web, Internet banking also came into existence and with the development of the same, it has also developed.

Programmers on banking data base came up with the idea of ​​doing transactions through online banking for some time during the 1980s. The concept of online banking service was discontinued due to online shopping.

Shopping companies have increased the use of credit cards through the Internet. Many banks started building a data warehousing village to reduce the number of employees working here.

During the development of ATMs, these databases were used very extensively.

In the 1980s, organizations such as Europe and the United States considered the convenience of home banking and started working on it.

Initially, the Internet was not so well developed, banking attracted large scale customers. Fax machines and telephones were used.

In 1983, the Nottingham Building Society generally introduced the Internet banking service for the first time in Attitude as LBS.

This service formed the basis for most Internet banking facilities. After which this service started completely.

At that time this service was not well developed and the transactions done by the account holders were done under a certain limit.

The facility started by the Nottingham Building Society is said to have been sourced from a system called Priestal. Which was deployed by the Postal Services Department of the United Kingdom.

Online banking service was started for the first time in October 1994. The service was developed by the Stanford Federal Credit Union was the Financial Institution.

Due to good developed system, the service of online banking is becoming more accurate. Although there are some evils in this too, but still it has emerged as a revolution in the banking sector.

Benefits of internet banking - Advantages of Internet banking

We can sign in to our bank account with the help of our internet browser, after which we can do the following.

To check the balance:  We can check our balance so that we have the amount of money in our account.

To check the transaction and statement: We can see the statement or transaction so that we can also know any kind of sister, which transaction we have done and which is not.

To send money: We can send money to our friend or family member's bank account with the help of this service.

To pay the bill: We all know very well that it is important to pay any kind of bill on time. For this, we have to go to the institution to pay the bill, but online banking saves us from this problem and also allows us to pay the bills sitting at home.

Direct Debit and Standing Orders: It helps a lot in making regular payments and the money is automatically debited on a fixed date.

Send and receive secure messages: You can send and receive secure messages from your bank.

Free service: This service is absolutely free. This service is given for free use by almost all banks.

In short

Through this post, you also learned how to start net banking and what is its history? Apart from this, you also learned what are the advantages of Internet banking . nowadays youth do not like to open their bank accounts without it. There are some people who are very afraid of Internet banking, they have many questions in their mind, that is why they run away from it.

Friends, what is this internet banking in you and what are the benefits of it? We hope that through this post you will have got the necessary information you are looking for and yet if you want to know anything else, you can ask by commenting.

The world is changing rapidly, people have also changed their lifestyles over time. Today, which does not change with time, it remains behind. This is because the person who uses net banking today does not even have to think about going to the bank, whereas the other person who has to spend hours in the bank to complete the same work.

We hope that you have found this post very profitable and if you have helped with this post, then share it with your friends and relatives.