What is E-banking?
Electronic banking or as it’s popularly known E-banking entails all the forms of banking services and transactions performed through Electronic means. While dealing through e-banking, clients have the opportunity to not only transact business but also to obtain information on financial products and services but also to via the internet.
Since e-banking is broad and covers the various kinds of financial transactions that occur online, it surely comes in various means and can be accessed through the following means;
This kind of e-banking enables customers to perform several financial and non-financial tasks via the internet. Since it is called internet banking, the prime necessity is the internet and customers will therefore be granted the opportunity to send money to different account, view banking statements, pay utility bills among others.
Just like under internet banking, clients are once again presented with the opportunity to carry out both financial and non-financial transaction outside of the bank setting. However, the difference is that this time round the client transacts through a mobile phone.
As a means to embrace this, many banks have resorted to availing mobile applications to clients on Google Play store or Apple store so as to enhance mobile banking which is one of the most recent trends.
Automated Teller Machines:
Automated Teller Machines or ATMs as they are better known are also a phenomenon of the e-banking system. With these, clients are granted the opportunity to withdraw money, deposit money, change Debit card PIN alongside many other banking services
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Customers are expected to have a PIN that they will feed in while using the PIN, that way, they can be assured of their security and clients are charged a certain fee everytime they withdrawal or make any transactions while using the ATM.
Debit cards are essentially common in this age and era. They are connected to your account so no matter where you go, although you have no cash, you could always transact from your account by using your debit card.