Getting to know online banking
Online banking, sometimes called e-banking, is an online service provided by banks or financial institutions which enables users to conduct transactions over the internet. The difference between online banking and physical banking is that online banking happens over the internet, you don’t need to go to the bank physically and wait for a long queue. Moreover, banks have closing hours while online banks are available at any time of the day and you can access online banks on any device like smartphones, desktop computers, laptops and tablets. There are various services offered by online banking some which are:
- Viewing account statement
- Applying for a loan
- Transferring money to another account
- Changing passwords
- Paying bills
- Checking on deposits
- Ordering cheque books