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What is internet Banking?
Manage episode 321007922 series 3313998
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Internet Banking or Online Banking or Web Banking System is one that allows individuals to perform banking anytime, anywhere via the internet. This service offers almost every service like the local banks. The service of internet banking was developed by the Financial institution named Stanford Federal Credit Union. This service allows any user to get connected with the browser to his/her respective bank's website to perform any kind of banking function virtually. In India, ICICI was the first bank to initiate internet banking during the year 1997 with the brand name “Infinity”.
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Internet Banking allows all the virtual banking functions just by connecting to the respective bank’s websites.
- Balance Inquiries
- Perform Transactions
- Online Payments of bills
- Any accrued interest, fees, and taxes
- Transactions details
- Account Balances
- Credit card balance
- Home loan details, etc.
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