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    E-BANKING

                  Electronic Banking  is more commonly referred to as internet banking  or simply netbanking.  The
                  technology  has paced many steps. We can now  effortlessly transfer money online  from one bank
                  account to another. In earlier days, cheques were used to transfer money and it took 2–3 days for
                  the clearance. If cheques were spoiled, mutilated or lost then the transfer took more time as a fresh
                  cheque was required again. With e-banking, you can transfer funds easily from one account to another
                  through computer, laptop and even with your smartphone. Different types of E-banking are: Online
                  Banking, Mobile Banking, ATM Banking, Direct Deposit, Electronic Fund Transfer (EFT), Electronic Bill
                  Payment and Online Investing.

                  ATM facility is also a part of e-banking where you can withdraw cash from any ATM machine and the
                  amount will be debited from your bank account automatically.

                  Following are the features of E-banking:
                      Account Management                                Fund transfer

                      Bill payment                                      Online statements and alerts

                  E-banking is useful for bankers as well as customers. The bankers are benefited by way of:

                      Less transaction cost                             Less chances of human error

                      Reduction in fixed infrastructure cost            Customer loyalty and satisfaction

                      Reduced paper work

                  The customers are benefited by way of:

                      Convenience of banking                            No geographical restrictions

                     Lower costs                                        Reduced chances of fraud
                      24/7 availability

                  Modes of Payment

                  All the e-commerce websites provide various modes to make payment of the product or service that
                  you want to buy. Some of them are as follows:

                       Debit or Credit Card: E-commerce websites allow us to make payment by using our credit or debit
                     card. In case of credit card, we are provided with a credit limit by the bank which we can use to
                     purchase products. To avoid the online fraud, each credit or debit card has a three-digit unique
                     secret Card Verification Value (CVV) number on the back side of it. Now, bank also sends a One
                     Time Password (OTP) on your registered mobile number to verify the authenticity.

                  Debit cards may look similar to credit cards, but their mechanism is entirely different. When a debit
                  card is used, funds are immediately withdrawn from an individual's account. Debit card transactions
                  can be declined if you do not have enough money in your account.

                      100  Premium Edition-VI

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