E-banking, also known as electronic banking or online banking, refers to the provision of banking services and transactions through electronic channels such as the internet, mobile apps, and other electronic means. E-banking allows customers to perform a wide range of banking activities without visiting a physical bank branch.
Some common e-banking services and transactions include:
1. Account Management: Customers can view their account balances, transaction history, and account statements online.
2. Transfers and Payments: E-banking allows customers to transfer funds between accounts, pay bills, and make other financial transactions electronically.
3. Online Loan Applications: Customers can apply for loans and credit products through e-banking platforms.
4. Mobile Banking: Many banks offer mobile apps that allow customers to perform banking activities using their smartphones or other mobile devices.
5. Remote Deposit: Some e-banking platforms allow customers to deposit checks by taking a photo of the check and submitting it electronically.
6. Customer Service: E-banking often includes customer support features such as online chat, email support, and frequently asked questions (FAQs) to assist customers with their banking needs.
E-banking provides convenience and flexibility for customers, allowing them to access banking services at any time and from anywhere with an internet connection. It also enables banks to reduce operational costs associated with traditional brick-and-mortar branches.
