Question- What are the features of online banking?

Ans.

Features of Online Banking

The common features of online banking are as under-

1. A customer can perform the following non-transactional tasks through online banking-

(i) Viewing images of paid cheques,
(ii) Ordering cheque books,
(iii) Download periodic account statements,
(iv) Downloading applications for M-banking, E-banking etc.
(v) Viewing account balances,
(vii) Viewing transactions,
(viii) Downloading bank statements.

2. A customer can transact banking tasks through online banking such as-

(i) Investment purchase or sale,

(ii) Loan application and transactions, such as repayments of enrolments,

(iii) Credit card applications,

(iv) Register utility billers and make bill payments,

(v) Funds transfers between the customer's linked accounts,

(vi) Paying third parties,
(vii) Financial institution administration,
(viii) Transaction approval process,

(ix) Management of multiple users having varying levels of authority.

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