E-Banking, also known as Internet Banking, Online Banking, or Digital Banking, refers to the use of electronic platforms such as websites, mobile apps, ATMs, and other digital interfaces to conduct financial transactions and access banking services.
It eliminates the need for customers to visit physical bank branches, enabling 24/7 access to banking services from anywhere.
Main Features of E-Banking
Feature
Description
24/7 Availability
Accessible anytime, anywhere
Real-Time Access
Instant account balance, transaction updates
Multi-Channel
Works via web, mobile, SMS, ATMs, and IVR
Paperless
No physical forms for most services
Secure Authentication
Uses PINs, OTPs, biometrics, and encryption
Types of E-Banking Services
Type
Description
Internet Banking
Access via a secure website using login ID and password
Mobile Banking
Services via mobile apps or SMS (e.g., YONO by SBI, iMobile by ICICI)
ATM Services
Cash withdrawal, fund transfer, mini statements, PIN change
Telebanking / Phone Banking
Banking via telephone using IVR or talking to a representative
POS Banking
Debit/Credit card transactions at merchant outlets
Electronic Funds Transfer (EFT)
Includes NEFT, RTGS, IMPS, UPI
Digital Wallets / UPI Apps
Google Pay, PhonePe, Paytm, BHIM – linked to bank accounts
Corporate E-Banking
Specialized platforms for businesses (bulk payments, salary disbursal)
Common E-Banking Services Offered
Checking account balance and transaction history
Fund transfers (NEFT, RTGS, IMPS, UPI)
Online bill payment (electricity, mobile, insurance)
Loan applications and EMI payments
Fixed deposit opening and renewal
Credit card payment and management
Account statements and e-Passbooks
Cheque book request and stop cheque facility
Process of Using E-Banking
Registration
Customer must register for e-banking services via the bank branch or online.
Login Credentials
Bank provides username/password or allows mobile number linking for UPI/Mobile Banking.
Access Services
Customers can log in via web browser or mobile app to access features like fund transfers, bill payments, account management, etc.
Authentication & Security
Transactions are verified using OTPs, biometric authentication, or transaction passwords.
Transaction Completed
Successful transactions are recorded, and receipts are generated instantly.
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