stu nicholls dot com | menu - Professional dropdown #3

ONLINE BANKING STEPS

Online banking may be defined as the direct linking of an operation or equipment to a computer system so that any stimulus provided by that operation is immediately accepted by that computer system. This means that when a transaction is entered by the user, the computer acknowledges it and updates the related files, which are effected by payments, to facilitate fast payment to the beneficiaries. Today, many banks in India have their own websites. Some of them offer banking facilities, such as account enquiry, request for statement and cheque book. In Internet banking, the bank provides customers with an ATM Card, a Visa cheque and electronic bill payment facilities, etc.

STEP 1

First,find a computer with access to the world wide web,log on to your banks website. Locate the online banking section of the site and click your way into it

STEP 2

You will see various options, as you can see below. Select your choice and proceed. You can see here that we have choosen "Personal Banking"

 

STEP 3

The site will then prompt you to either log in or sign up for online banking. Select sign up and fill in the necessary details. After the completion of your sign up, continue with the login as shown below

STEP 4

After you have filled the relevant information in sign up,the following will be displayed

 

STEP 5

Enter your "Login ID"

STEP 6

Now enter your "Password"

STEP 7

After entering the Login ID and password,you are good to go.

Click "Submit" as you can see below.

 

STEP 8

Now that you have Logged into the website, you will have access to various information. Explore your banking website,take advantage of all that online banking has to offer With online banking account, 1.You can have access to your account information all in one place 2.It allows you to review your transactions,view actual cheque images in real time

Advantages of online banking

Convenience: Unlike your corner bank, online banking sites never close; they're available 24 hours a day, seven days a week, and they're only a mouse click away. Ubiquity: If you're out of state or even out of the country when a money problem arises, you can log on instantly to your online bank and take care of business, 24/7. Transaction speed: Online bank sites generally execute and confirm transactions at or quicker than ATM processing speeds. Efficiency: You can access and manage all of your bank accounts, including IRAs, CDs, even securities, from one secure site. Effectiveness: Many online banking sites now offer sophisticated tools, including account aggregation, stock quotes, rate alerts and portfolio managing programs to help you manage all of your assets more effectively. Most are also compatible with money managing programs such as Quicken and Microsoft Money.

Disadvantages of online banking

  • Start-up may take time: In order to register for your bank's online program, you will probably have to provide ID and sign a form at a bank branch. If you and your spouse wish to view and manage your assets together online, one of you may have to sign a durable power of attorney before the bank will display all of your holdings together.
  • Learning curve: Banking sites can be difficult to navigate at first. Plan to invest some time and/or read the tutorials in order to become comfortable in your virtual lobby.
  • Bank site changes: Even the largest banks periodically upgrade their online programs, adding new features in unfamiliar places. In some cases, you may have to re-enter account information.
  • The trust thingFor many people, the biggest hurdle to online banking is learning to trust it. Did my transaction go through? Did I push the transfer button once or twice? Best bet: always print the transaction receipt and keep it with your bank records until it shows up on your personal site and/or your bank statement.
  •  

     

    Our aim is to provide information to the knowledge seekers. 

    comments powered by Disqus
    Footer1