The idea of netbanking was conceptualized because it was impossible to do branch banking 24x7 and also in branch banking there was unprecedented rush on week days for withdrawing cash therefore it was thought that online banking can reduce the load as well as make things fast and smooth for banking institutions. Now-a-days many people prefer online banking to branch banking.
With netbanking you can transfer your funds at anytime and that too anywhere on this globe. There are no restrictions on sending funds and you can even send money to any accounts in another bank and that too in few minutes. Both inter and intra bank money transfer is possible with the help of online banking.
Through netbanking you can even transfer funds to any electronic money transfer account like PAYPAL and Moneybookers. You can even receive any amount through electronic money transfer into your bank account and that too without being charged for it by your bank.
Many times we have to urgently transfer funds but at times banks are closed and we can’t get the money on time so we have to borrow money from somewhere else but with netbanking we don’t have to bother about anything because we can transfer money even at night simply because one can do online banking 24 hours and there is no restriction of time or money transfer limit.
Netbanking is such that even if we don’t have money in our account then we can request our relatives or friends to transfer money in our bank account so that we can transfer it somewhere else for business purpose or for paying money through demand draft or by cheque. Through online banking funds get transferred in to your account in few minutes.
Through netbanking we can make payments of our phone, electricity and cable bills. We can also pay house rent through netbanking and can also make online payment through our netbanking account for any purchase we make online. We can instantly pay the purchase bill in a mall through netbanking at the mall itself by using our netbook. Similarly all kinds of retail bills can be paid by using netbanking facility.
Tips and comments:
Netbanking is secure and fast but precautions should be taken while using internet. Always secure internet connection should be used for netbanking. Never give away your username and password to anyone. Never use shared computers like the ones in cyber cafes. Always type the web address of your bank in your browser to use netbanking. To avoid phishing do not use links inside your emails for using your online banking account.
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