2. WHAT IS ONLINE BANKING?
Online banking (or Internet banking or E -banking) allows customers
of a financial institution to conduct financial transactions on a
secure website.
Nowadays, all banks provide online banking facility to their
customers as an added advantage .
Internet banking enable people to carr y out most of their banking
transactions using a safe website, which is operated by their
respective banks .
It provides many features and functions to their customer s, and
enables them to view their account balance, transfer money from
their account to another account.
3. HOW TO GET STARTED
Once you have an account, for example HSBC, getting started
with Internet Banking is quick and easy. Simply refer to the
instructions below.
Go to the HSBC home page and click on the "Register" button
under "Online Ser vices" in the right hand side box (make sure
you have your PBN and Access Code handy).
Enter your PBN and Access Code.
Set-up a personalised Username and Password.
Once you have done steps 1 -3, an Online Security Device will
be mailed to you.
If you already have received your Device from a branch, you
will need to activate it online.
4.
5. ADVANTAGES OF ONLINE BANKING
Access : Online banking offers access to your
bank accounts at any times.
Time : Online banking saves you time
without having you to stop and wait for
turn at the bank.
Security : Banks use security measures , such as
encrypting , to ensure your account’s privacy.
Encryption protects your account information from
being intercepted by a third party.
6. LIMITATION OF ONLINE BANKING
Setting up an account may take time : In order to register for
your bank's online program, you will probably have to
provide ID and sign a form at a bank branch. Some banks
even ask for photos
Learning difficulties : Banking sites can be difficult to
navigate at first. Getting acquitted with the banking sites
software may require some time to read the tutorials in
order to become comfortable in your virtual lobby.
Techinal breakdowns : As with all technologies, online
banking websites sometimes go down. If this happen
when you closed your local bank or credit card
accounts, you will definitely go penniless.
7. CONCLUSION
online banking is very, very, very convenient.
It will allow you to pay your bills and make transactions
anytime during the day and the week. The bank will never
close because you can access it through your laptop or
computer. So, no matter in which country you are anywhere in
the world, you can go online and handle your finances.
online banking is very fast, ef fective and ef ficient.
