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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.







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