Internet boom has led to globalization of banks. All banks have started various online services which its customers can use it from any part of the globe. When internet came into existence internet banking was started at that time only multi-national banks used to offer different variety of services but now local banks have also spread their wings world-wide through online banking system. Due to internet banking services huge amount of foreign exchange is earned by the bank on daily basis which not only increases the financial productivity of the bank but also helps in stabilizing the economy of the country.
Internet banking services includes retail and corporate services which are executed over the internet. Through retail internet banking service the bank directly deals with the customer. The bank offers wide range of services like accepting and processing of applications for credit and debit cards, mortgage, transactional account, personal loans and savings account through retails internet banking.
One can use fund transfer and wire transfer service through internet banking. With both these services one can transfer any amount to any place on this planet in no time. Internet banking is very helpful because it saves lots of time not only of the customer but also of the bank. People now-a-days don’t have to stand in long queues just to check their balance because world-wide many people are using internet banking to check their current balance from the comfort their home.
One can easily pay their bills through internet banking. Internet banking services also includes cash management and investment tracking. It also allows automated clearing house transactions. There are many other value added services which are included with online banking system.
Corporate internet banking services allows a bank to tie-up with global business set-up. This service allows a corporate house to pay their bills online and they can also tackle all salary as well as income tax related matter by using this service. Through this service a corporate can make bulk payments and also they can do online trading. This service also allows a corporate to transfer funds to any part of the globe for business purpose.
Through internet banking at any time one can check the status of their account and can also print the latest account details. One can transfer the funds from the bank to any electronic money transfer account like Moneybookers or can receive funds from such accounts to their bank without being charged. One can also download complete details of all transactions.
Internet banking services are available 24x7 hence one does not have to bother about the time for doing any transaction. Internet banking is a very innovative concept especially for corporates who need to invest or transfer money at any time around the globe. It also allows corporates to manage Management Information System (MIS) in real-time.
Tips and comments:
Internet banking services should be used by everyone because it is very fast and safe. It allows corporates to manage employee salary accounts with ease and it also allows them to transfer funds to multiple accounts which includes’ vendors, channel partners and dealers. One can also transfer funds to any bank account worldwide by using RTGS and NEFT service.
