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Internet Banking

Internet banking allows customers to conduct financial transactions via the internet. It offers services like deposits, transfers, and bill payments. To use internet banking, a customer needs a device, internet connection, and bank card to register. Once registered, they set up a password to access the service. The first online banking service in the US was introduced in 1994. In India, ICICI was the first bank to offer internet banking in 1997. It allows convenient banking anytime from anywhere with features like account access and fund transfers. Customers register by submitting an application at their bank branch.

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121 views

Internet Banking

Internet banking allows customers to conduct financial transactions via the internet. It offers services like deposits, transfers, and bill payments. To use internet banking, a customer needs a device, internet connection, and bank card to register. Once registered, they set up a password to access the service. The first online banking service in the US was introduced in 1994. In India, ICICI was the first bank to offer internet banking in 1997. It allows convenient banking anytime from anywhere with features like account access and fund transfers. Customers register by submitting an application at their bank branch.

Uploaded by

kin
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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You are on page 1/ 11

INTERNET

BANKING
BY
PRATEEK BEHERA(01)
DEEPAK KUMAR(02)
HARSH VARDHAN TIWARI(03)
MANISH KUMAR SINGH(04)
Contents 01. INTRODUCTION

02. HOW DOES INTERNET


BANKING WORKS

03. FEATURS OF INTERNET


BANKING

HOW TO REGISTER FOR INTERNET


04. BANKING

05. ADVANTAGES AND DISADVANTAGES


OF INTERNET BANKING
WHAT IS INTERNET
BANKING
Internet banking allows a user to conduct financial transactions via the internet.
Internet banking is also known as Online banking or Web banking.

Online banking offers customers almost every service traditionally available


through a local branch including deposits, transfers, and online bill payments.
Virtually every banking institution has some form of online banking, available
both on desktop versions and through mobile apps.

A customer needs a device, an Internet connection, and a bank card to register.


Once registered, the consumer sets up a password to begin using the service.
DEVELOPMENT OF INTERNET
BANKING
● The concept of Internet banking has been simultaneously
evolving with the development of the world wide web.

● Programmers working on banking data bases came up with


ideas for online banking transactions, some time during the
1980’s.

● The online shopping promoted the use of credit cards


through Internet.

● The first online banking service in United States was


introduced, in October 1994.
Development of Internet Bank-
ing in India
● ICICI was the first bank to initiate the Internet
banking revolution in India as early as 1997
under the brand name 'Infinity’.

● ICICI Bank kicked off online banking way back in


1996. But even for the Internet as a whole, 1996 to 1998
marked the adoption phase, while usage increased only in
1999- due to lower ISP online charges, increased PC penetra-
tion and a tech-friendly
Atmosphere.
How does Net Banking Work
To benefit from net-banking, customers are required to register
for internet banking at the bank.

•Individuals having a savings account or current ac-


count at any bank can register for internet banking.

•For net-banking to work properly, you need a personal computer,


laptop or mobile, and good internet connection

•After registering, a unique customer ID and password are issued


by the bank using which one can log-in to the net-banking portal
Features of Net Banking
Given below are some of the key features of Net Banking:
•A secure and convenient method of banking
•Password-protected banking system
•Easy access to financial and non-financial
banking products/services
•Access your bank account anytime anywhere
•Track and manage bank balance, last transactions, state-
ments, etc.
•Transfer funds online via NEFT, RTGS, IMPS anytime
•Process bill payments quickly
How to Register for Internet
Banking
Most of the banks open an internet banking account for the customers as
and when they apply for a new bank account. If you do not have an internet
banking account already,
•You can submit the Internet Banking Application Form at your home
branch along with required documents such as a copy of your
bank passbook, Aadhaar card, etc.
•The bank will verify all the information and then issue a customer ID and
password for internet banking
•The net-banking application form can be downloaded from your bank’s of-
ficial website
•After receiving the credentials, you can log-in and access net-banking
ADVANTAGES OF IN-
TERNET BANKING

● Availability
● Easy to Operate
● Convenience
● Activity Tracking
● Time Efficient
Disadvantages Of
Internet Banking
● Internet Requirement

● Transaction security

● Difficult for beginners

● Securing password
Thanks !

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