Well,

Internet banking is changing the banking industry and is having the major effects on banking relationships.

Banking is now no longer confined to the branches were one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts.

In true Internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time.

Providing Internet banking is increasingly becoming a "need to have" than a "nice to have" service.

The net banking, thus, now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services.

Answered by ajay kumar , an ibibo Master, at 4:21 AM on May 11, 2008

well jks Online banking (or Internet banking) allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.

Answered by laks , an ibibo Master, at 4:54 PM on May 10, 2008

Online banking or Internet banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.
The precursor for the modern home online banking services were the distance banking services over electronic media from the early '80s (the term online became popular in the late '80s). These services used the videotex system. In the US the first bank to offer these services did so in 1981 and by 1985 at least 37 banks offered videotex banking services. Because of the commercial failure of videotex these banking services never became popular except in France where the use of videotex (Minitel) was subsidised by the telecom provider.

Answered by Reeta K , an ibibo Master, at 3:48 PM on May 10, 2008

Internet banking lets customers conduct their banking online.System that allows you to manage their bank accounts and sometimes your investments over the internet. Where banking transactions such as payments, transfers and account balances are made via the internet.

Answered by Kajal Sharma , an ibibo Master, at 9:02 PM on May 09, 2008

Financial services accessed via the Internet's World Wide Web. An Internet bank exists only on the Internet, the global network of computer networks without any "brick and mortar" branch offices. By eliminating the overhead expenses of conventional banks, Internet banks theoretically can pay consumers higher interest rates on savings than the national average. Banks use the Internet to deliver information about financial services, replace transactions done in branch offices, which eliminates the need to build new branches, and to service customers more efficiently. Internet banking sites offer the prospect of more convenient ways to manage personal finances, and such services as paying bills on-line, finding mortgage or auto loans, applying for credit cards, and locating the nearest ATM or branch office. Some Internet banks also offer 24-hour telephone support, so customers can discuss their needs with bank service representatives directly.

Answered by Nishu's , an ibibo Master, at 7:32 PM on May 09, 2008

hi jks :-
Internet banking is changing the banking industry and is having the major effects on banking relationships. Banking is now no longer confined to the branches were one has to approach the branch in person, to withdraw cash or deposit a cheque or request a statement of accounts. In true Internet banking, any inquiry or transaction is processed online without any reference to the branch (anywhere banking) at any time. Providing Internet banking is increasingly becoming a "need to have" than a "nice to have" service. The net banking, thus, now is more of a norm rather than an exception in many developed countries due to the fact that it is the cheapest way of providing banking services.

Answered by shepherd , an ibibo Master, at 7:17 PM on May 09, 2008

The precursor for the modern home online banking services were the distance banking services over electronic media from the early '80s (the term online became popular in the late '80s). These services used the videotex system. In the US the first bank to offer these services did so in 1981 and by 1985 at least 37 banks offered videotex banking services. Because of the commercial failure of videotex these banking services never became popular except in France where the use of videotex (Minitel) was subsidised by the telecom provider.
he common features fall broadly into several categories

* Transactional (e.g., performing a financial transaction such as an account to account transfer, paying a bill, wire transfer... and applications... apply for a loan, new account, etc.)
o Electronic bill presentment and payment - EBPP
o Funds transfer between a customer's own checking and savings accounts, or to another customer's account
o Investment purchase or sale
o Loan applications and transactions, such as repayments

* Non-transactional (e.g., online statements, check links, cobrowsing, chat)
o Bank statements
* Financial Institution Administration - features allowing the financial institution to manage the online experience of their end users
* ASP/Hosting Administration - features allowing the hosting company to administer the solution across financial institutions

Answered by Sharad Singh , an ibibo Master, at 6:33 PM on May 09, 2008

Internet banking lets customers conduct their banking online.Where banking transactions such as payments, transfers and account balances are made via the internet.
means communication with the Bank and/or performance of Transactions through the Internet network.It allows client to perform selected banking transactions through a computer with Internet connection and a secure browser.

Answered by ayisha , an ibibo Master, at 6:31 PM on May 09, 2008

well, Online banking or Internet banking allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.
The precursor for the modern home online banking services were the distance banking services over electronic media from the early '80s (the term online became popular in the late '80s). These services used the videotex system. In the US the first bank to offer these services did so in 1981 and by 1985 at least 37 banks offered videotex banking services. Because of the commercial failure of videotex these banking services never became popular except in France where the use of videotex (Minitel) was subsidised by the telecom provider.

Answered by satyaiitk , an ibibo Master, at 5:14 PM on May 09, 2008

marven it is which allows customers to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society.

Answered by raj u , an ibibo Master, at 2:06 PM on May 09, 2008