online banking services


 


  

  

  

  

online banking services

Online banking (or Internet banking) is a term used for performing transactions, payments etc. over the Internet through a bank, credit union or building society's secure website. This allows customers to do their banking outside of bank hours and from anywhere where Internet access is available. In most cases a web browser such as Internet Explorer or Mozilla Firefox is utilized and any normal Internet connection is suitable. No special software or hardware is usually needed. Offers banking and financial services, mortgage loans: features online account access.

Features

Online banking usually offers such features as:

bank statements, with the possibility to import data in a personal finance program such as Quicken or Microsoft Moneyfunds transfer between a customer's own checking and savings accounts, or to another customer's accountinvestment purchase or saleloan applications and transactions, such as repaymentsaccount aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.

There is a growing number of banks that operate exclusively online. Because these online banks have low costs compared to traditional banks they can offer high interest rates.

Security

Protection through single password authentication, as is the case in most secure Internet shopping sites, is not considered secure enough for personal online banking applications in some countries.

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