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What is e-banking?

Updated: 12/9/2022
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9y ago

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E-banking is defined as the automated delivery of new and traditional banking products and services directly to customers through electronic, interactive communication channels. E-banking includes the systems that enable financial institution customers, individuals or businesses, to access accounts, transact business, or obtain information on financial products and services through a public or private network, including the internet. Customers access e-banking services using an intelligent electronic device, such as a personal computer (PC), personal digital assistant (PDA), automated teller machine (ATM), kiosk, or Touch Tone telephone. While the risks and controls are similar for the various e-banking access channels, this booklet focuses specifically on Internet-based services due to the Internet's widely accessible public network. Accordingly, this booklet begins with a discussion of the two primary types of Internet websites: informational and transactional.

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15y ago

Your employer deposits your paycheck through an elctronic system. OR - you deposit your paycheck. You can set up online payments with your credit card company, your utility companies and other places. You give them your bank account number. When your electricity or phone bill are due you get the regular statement through the mail. But, the company gets paid automatically by your bank. You would usually set the accounts up to be paid on a certain date each month.

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Related questions

What are advantages of ebanking?

it enable the customers to cash their money without going to the bank


Articles on the impact of e-banking in nigerias economy?

ebanking enhances delivering system and banking efficiencies (by sam igbajar)


Managerial implications of ebanking?

embanking is advantageous in all aspects. But when technical difficulties happens it is the worse scenario. Managerial people are responsible for the tracking of accounts in those scenario.


How would one describe ebanking?

A person would describe e-banking as a way of doing banking activities online. It allows you to check account balances or pay bills using your computer.


What kind of company is EDS Credit Union?

The EDS credit union based in Plano, Texas offers ebanking. They offer services for businesses loans or for personal use. They also offer a variety of insurance policies.


That eBanking's efficiencies are worth the reduced personal contact with banks and work force reductions?

This type of banking makes it easier for consumers to get their work done. You can do all of your banking online without having to worry about the banking hours.


What banks in the US allow customers to open an online bank account?

Most large banks in the US allow customers to open an online bank account. For instance, Lloyds, Citizensbank, Bank of America and Citibank. These accounts often provide eBanking functionality.


What services are offered by UBS Online?

UBS online services are comparable to most modern banking options. They offer e-banking, financial quotes and access to mobile services 24 hours as well.


What is ther difference between ebanking and internet banking?

They both refer to the same. Some people call it electronic banking or e-banking and some people call it internet banking. This is the facility using which a customer can use his bank account and initiate banking transactions from the comfort of his home using a computer. All he needs is a login id/pwd for the banks website.


What are the positives for ebanking?

You can control several accounts in one place - check balance, transactions log, outstanding orders ETCYou can access you accounts anywhere and anytime (while you travelling, when the branch is closed ETC..)You can pay your supliers/billsYou can control the access level to the account - each users having it's own permissionsYou can download statements/excels ETC..