E-banking is an important modern banking facility. Banks provide this option mainly to their account holders and customers using computer technology.
Introduction to electronic banking
It is an important modern banking facility. Banks provide this option mainly to their account holders and customers using computer technology. Electronic banking has brought remarkable changes not only in the ways of traditional banking transactions, but also in the systems of their records. In addition, account holders and customers enjoy 24 hours (24 hours a day) banking services thanks to electronic banking.
Electronic banking can be defined as the automatic delivery of banking products and services to customers through interactive electronic communication.
Advantages of electronic banking
The advantages of electronic banking can be explained under the following three heads:
1- Benefits for customers
2- Benefits for bankers
3- Benefits for the economy
benefits for customers
The customer can withdraw cash at any time via an ATM.
In addition to cash withdrawals, customers can also have a mini bank statement at these ATMs.
Through internet banking, the customer can operate his account at his office
or home.
E-banking has also helped significantly in paying utility bills. Now it is no longer needed, the long queues outside the banks are behind it.
The growth in the use of credit cards is also largely due to electronic banking. Now the customer can
shop around the world without having to carry paper money with you.
Benefits for bankers
The growth of electronic banking has greatly helped banks in controlling overhead and operational costs.
Now customers can make payments, get bank statements through information about various banks and schemes and ATMs, bank websites which help banks to improve their performance.
E-banking not only provides people with modern banking facilities but also helps in facilitating their business tasks.
E-banking has greatly helped banks to reduce paper and manual work. As a result, the bank can now keep its records more accurate and up-to-date, and people's dealings with banks have increased to some extent and led to the economy of banks.
Benefits for the economy,
Electronic banking greatly serves the public and banking sectors. This has led to the creation of a better environment that supports growth in productivity and prosperity.
People are getting more job opportunities due to the growth of economic sector and banking system in the country. In addition, people also improve themselves thanks to the growth of their salaries.
Electronic banking products are listed here
1- Credit card
2- Debit card
3- ATMs
4- Online banking
5- Mobile or phone banking
credit card
It is part of the payment system of users of the system and services based on the holder's promise to pay for goods and services. Different banks have different types of credit cards, these cards are useful not only for the country but also for payment. These cards are of such material and size that they can easily be placed in a pocket.
In modern banking, banks have started modern services to facilitate their customers.
Debit Card
A debit card is a type of facility provided by commercial banks in which the account holder does not need to hold money to purchase goods from various outlets. The account holder presents the card to the merchant when paying for the purchased goods. The merchant passes the card through the electronic machine and the purchase price is automatically deducted from the customer's account. This means that the account holder's balance is reduced by the price of the goods. Later, the merchant receives the price of the goods sold from the bank. Most banks today issue such cards that fulfill the function of a debit card and an ATM at the same time.
ATM
A card used to withdraw money from an ATM is called an ATM card. This card can only be used by a person who has a sufficient amount in the bank account. Each ATM card has a specific number printed on it. The cardholder is also assigned a PIN card to use the ATM card. Only the cardholder knows the assigned PIN code. To withdraw money, the customer must enter the PIN code after inserting the card into the ATM. A customer can withdraw money from an ATM at a time only up to a certain limit.
Internet banking
It is a system that has made it possible for everyone to carry out banking activities at home or in the office via the Internet.
Online banking allows customers to conduct financial transactions on a secure website operated by their retail bank, virtual bank, credit union or building society.
Another important electronic banking tool or product is online banking. Commercial banks provide the following facilities through online banking;
Depositing money
Withdrawal from the bank
Money transfer or payment
Mobile banking
With e-banking, customers can process or send orders to their banks through mobile phones/telephones without visiting the bank. Customers can check account balances and make various payments by sending SMS (several votes required) through mobile phones / telephone banking services are available to customers 24 hours a day.
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