Internet banking is also known as online banking or web banking. It is an electronic system of banking that allows you to access your bank account online. You can perform banking activities such as paying bills, transferring money, checking balance and many others. without having a visit or call your bank from the comfort of your home.
Your corresponding bank will provide you a username and password to authorize your account.
There are basically three types of online banking service available in India, are given below;
4. Informational banking
In this category of internet banking, covers the basic level of online banking. This provides information about banks and services like getting an inquiry about the interest rate, download statements and the procedure of opening an account, etc.
2. Communicative banking
In this type of Internet banking services, banks allow some interaction between the bank’s system and customer. It may contain loan application, application of debit or credit card, apply for demand draft or static file update (name, address, etc).
3. Transactional banking
This type of internet banking service allows costumers to execute the transaction, It includes access account to pay bills and transfer funds, etc.