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| ONLINE BANKING |
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| Wednesday, 07 November 2007 | |
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Traditional banking methodology has always been a long waiting process, waiting for the teller, waiting for the manager’s approval; the approval for a loan gets delayed when the manger is on leave and so on. Online banking has put an end to all such nuances. With improvement in electronic media equipments and technology e-banking also called as electronic banking or internet banking has automated millions of transactions instantly. The online banking process has reduced the amount of time one may need to spend waiting and traveling to avail a loan. Lots of energy and lots of fuel too!
The network of the computers that get interconnected to each other via internet is one of the main roads that linked the world of banks and prospective clients in to one belt. Anyone can access any bank from home, browsing center, office, or in remote location via laptop with a blue tooth. The prospective borrowers are easily drawn towards that easy online line banking process, which dramatically reduces the amount of time one needs to spend waiting to deposit funds, draw funds or whatever. Money gets instantly transacted to and fro between various continents of the world and all was made possible because of online banking processes. Virtual accounts like PayPal enables intercontinental money transactions within fractions of seconds thereby increasing kinetic business processes, which contributes to the economic growth of world wide imports and exports. Virtual accounts are one of the major trends in online banking. Inter conversion of various currencies become very simple via such online banking processes. Online banking facilitates easy payment of your basic utility bills. You just need to register with your bank for such facilities. You may need to authorize your bank to get access to your utility bills and the rest stays taken care of. All you need to do is deposit your funds and your money will be paid to the respective utility corporations and you can enjoy bills getting paid happily from your home. Online banking has become a primary need these days. Credit cards use the concept of online banking to fund their customers through the swipe of credit cards at merchant outlets. Instant loans and online financing is also a kind of online banking getting popular. The stock exchange business is gaining management via the online banking process. Stock brokerage is mainly benefited via online banking. But the crimes in online banking is also developing day to day where individual customer data can be accessed in third party sites if the customer has not logged out. However, programs are being developed to prevent such activities. The merits outweigh the effects of online banking by all means. Happy online banking |
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