Finance Banking

Future Of Banks And Online Banking


The bank online banking system is the solution offered by different commercial banks, a system that is simple, easy to use as a banking instrument that allows you to manage your own budget. Using the internet banking, the different individuals and companies are allowed to manage their own budget, and to have a strict control of liquidities. The system is available for the users at any moment of the day or night. While some people still prefer cash payments, the bank online banking system is easily imposing as the main paying facility in the financial world.


Using the internet banking, the client can check the state of his own banking products, including credits, deposits and financial investments. The client can also make payments and transfers to accounts opened at the respective banks, but also payments to clients from other banks, and international transfers. This way, the business relationships are eased, and the clients of those companies have the possibility to conduct financial operations in an effective and cheap manner.


The operations area cheaper compared with the same operations at the land-based offices of the respective banks. The system is easily maintained by a handful of people, and this is why the costs are reduced. Moreover, the banks try to encourage clients to use the bank online banking system, as it is advantageous not only for the respective companies, but also for the clients.


Here are the main operations that could be initiated by the companies and individuals using this system:


      -          payments – the payments could be initiated by the clients for different business partners, friends and service providers

-          currency payments to foreign partners

-          utilities and bills payments – the banks have already established patterns and forms, and you can easily pay the electricity and gas bills, as well as other monthly obligations you might have

-          Direct debit options – the direct debit is a relatively new system that allows the clients to forget about bills and credit rates. In simple words, as soon as the invoice is issued, the money is automatically withdrawn from the account. If the money isn’t in the account, the bank representatives will call the client.

-          Transfers between own accounts without commissions – those operations include currency exchanges and credit rates payments


As the clients need to be updated about the debit and credit transactions, the Alert SMS system could be activated. In this way, you will receive an SMS directly on your phone whenever a transaction is made in your accounts. This way, you will be able to check the sold of your accounts at any given minute.

Tips and comments

Using the bank online banking system, you will be allowed to constitute deposits, and to pay your credits. Some advanced internet banking systems allow the clients to charge mobile phones, and also to pay products and services on the internet.


The clients don’t have to worry about the safety of the system. All the internet-banking systems are protected by the respective banks using the latest encryption methods, and a plus of security is offered by the systems using the Digipass, an electronic device that generates passwords for any initiated transaction.

By Stanculescu Mihai Bogdan, published at 12/30/2011
   Rating: 4/5 (10 votes)
Future Of Banks And Online Banking. 4 of 5 based on 10 votes.


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