why use internet banking?

Other than the password , most banks also give a OPT , one time password which is supposed to make it safer for customers. After you finish your transaction , you are directed to the banks own site where you need to provide this password, without which you cannot proceed further....

That is a safe alternative. Also for Visa cards, you now need a special password which has been verified by Visa without which the banks cannot proceed with payments. So there are maximum security and safety measures actually being provided to safeguard our interests, provided we don't fall victim to false phishing calls or emails. That is finally, in our own hands.

Yes it is the same for Mastercard as well where you need a secure password to complete the process of payment....However, not all banks have this safety precaution and it is in ones own interest to at least change the password frequently!

Most online transactions do send a OTP to our registered mobile phones, this makes online transaction much easier and safe. However, some banks such as PNB make it mandatory to change their passwords on a regular basis or our account gets locked out.

Doing net banking transactions from home is safe because internet service providers are assigning dynamic ips to the system. So whenever you switch off and on the modem the ip will get change based on the DHCP concept. So hackers didn't get much information. We should be careful while downloading anything from internet. If it reliable then only we should download otherwise the risk is in our side. Updating windows is very important because most of the hackers are getting the chance of lack of security patches installed in a Personal computers.

True, what you said about //dynamic ips to the system// this is what makes our data safe.

Other than the password , most banks also give a OPT , one time password which is supposed to make it safer for customers. After you finish your transaction , you are directed to the banks own site where you need to provide this password, without which you cannot proceed further....

That is a safe alternative. Also for Visa cards, you now need a special password which has been verified by Visa without which the banks cannot proceed with payments. So there are maximum security and safety measures actually being provided to safeguard our interests, provided we don't fall victim to false phishing calls or emails. That is finally, in our own hands.

Yes it is the same for Mastercard as well where you need a secure password to complete the process of payment....However, not all banks have this safety precaution and it is in ones own interest to at least change the password frequently!

Most online transactions do send a OTP to our registered mobile phones, this makes online transaction much easier and safe. However, some banks such as PNB make it mandatory to change their passwords on a regular basis or our account gets locked out.

Doing net banking transactions from home is safe because internet service providers are assigning dynamic ips to the system. So whenever you switch off and on the modem the ip will get change based on the DHCP concept. So hackers didn't get much information. We should be careful while downloading anything from internet. If it reliable then only we should download otherwise the risk is in our side. Updating windows is very important because most of the hackers are getting the chance of lack of security patches installed in a Personal computers.[/quote

Many hackers lure the netizens by offering alluring programmes for free. One should not fall prey to these attractions. Another important thing is to install a reliable firewall. It acts like a sentinel and warns you. Don't leave the PC unattended after keying in information while transacting on the web site.

I completely agree with u sir. I too use net banking for making payments, doing recharge and lot more things. It saves a lot of time. Also it is very safe to use.

Other than the password , most banks also give a OPT , one time password which is supposed to make it safer for customers. After you finish your transaction , you are directed to the banks own site where you need to provide this password, without which you cannot proceed further....

That is a safe alternative. Also for Visa cards, you now need a special password which has been verified by Visa without which the banks cannot proceed with payments. So there are maximum security and safety measures actually being provided to safeguard our interests, provided we don't fall victim to false phishing calls or emails. That is finally, in our own hands.

Yes it is the same for Mastercard as well where you need a secure password to complete the process of payment....However, not all banks have this safety precaution and it is in ones own interest to at least change the password frequently!

Most online transactions do send a OTP to our registered mobile phones, this makes online transaction much easier and safe. However, some banks such as PNB make it mandatory to change their passwords on a regular basis or our account gets locked out.

I don't think PNB has made any such rule. I haven't come across any such rule inspite of using their service for quite a long time now. They do encourage their customers to change the passwords regularly but its not mandatory

Other than the password , most banks also give a OPT , one time password which is supposed to make it safer for customers. After you finish your transaction , you are directed to the banks own site where you need to provide this password, without which you cannot proceed further....

That is a safe alternative. Also for Visa cards, you now need a special password which has been verified by Visa without which the banks cannot proceed with payments. So there are maximum security and safety measures actually being provided to safeguard our interests, provided we don't fall victim to false phishing calls or emails. That is finally, in our own hands.

Yes it is the same for Mastercard as well where you need a secure password to complete the process of payment....However, not all banks have this safety precaution and it is in ones own interest to at least change the password frequently!

Most online transactions do send a OTP to our registered mobile phones, this makes online transaction much easier and safe. However, some banks such as PNB make it mandatory to change their passwords on a regular basis or our account gets locked out.

I don't think PNB has made any such rule. I haven't come across any such rule inspite of using their service for quite a long time now. They do encourage their customers to change the passwords regularly but its not mandatory

Yes Jabeen, not all banks have this facility, although I wish it were so since it puts the onus on the bank to release money for the transaction only after you pass through this measure.It makes it doubly safe for the customer.

Other than the password , most banks also give a OPT , one time password which is supposed to make it safer for customers. After you finish your transaction , you are directed to the banks own site where you need to provide this password, without which you cannot proceed further....

That is a safe alternative. Also for Visa cards, you now need a special password which has been verified by Visa without which the banks cannot proceed with payments. So there are maximum security and safety measures actually being provided to safeguard our interests, provided we don't fall victim to false phishing calls or emails. That is finally, in our own hands.

Yes it is the same for Mastercard as well where you need a secure password to complete the process of payment....However, not all banks have this safety precaution and it is in ones own interest to at least change the password frequently!

Most online transactions do send a OTP to our registered mobile phones, this makes online transaction much easier and safe. However, some banks such as PNB make it mandatory to change their passwords on a regular basis or our account gets locked out.

Doing net banking transactions from home is safe because internet service providers are assigning dynamic ips to the system. So whenever you switch off and on the modem the ip will get change based on the DHCP concept. So hackers didn't get much information. We should be careful while downloading anything from internet. If it reliable then only we should download otherwise the risk is in our side. Updating windows is very important because most of the hackers are getting the chance of lack of security patches installed in a Personal computers.

True, what you said about //dynamic ips to the system// this is what makes our data safe.

The entire transaction is purely cashless. The transactions are held between banks concerned. there is no need to handle money. in case if the transactions are made through ATM centers it is asked that the receipt of having withdrawn amount has to be surrendered in case of proof about the cash withdrawn as in some cases there are chances for the receipt of fake notes from the ATM centers. This is practically seen in some cases. Some times there are chances for the non receipt of ATM slips from the ATM centers. In such cases none could produce the proof for the amounts having been withdrawn from the particular ATM center and also in some occasions no messages are being received about the withdrawal of the amount. Considering all this internet banking provides more security and less tension.

Other than the password , most banks also give a OPT , one time password which is supposed to make it safer for customers. After you finish your transaction , you are directed to the banks own site where you need to provide this password, without which you cannot proceed further....

That is a safe alternative. Also for Visa cards, you now need a special password which has been verified by Visa without which the banks cannot proceed with payments. So there are maximum security and safety measures actually being provided to safeguard our interests, provided we don't fall victim to false phishing calls or emails. That is finally, in our own hands.

Yes it is the same for Mastercard as well where you need a secure password to complete the process of payment....However, not all banks have this safety precaution and it is in ones own interest to at least change the password frequently!

Most online transactions do send a OTP to our registered mobile phones, this makes online transaction much easier and safe. However, some banks such as PNB make it mandatory to change their passwords on a regular basis or our account gets locked out.

I don't think PNB has made any such rule. I haven't come across any such rule inspite of using their service for quite a long time now. They do encourage their customers to change the passwords regularly but its not mandatory

I faced this prob,..a/c got locked out and the bank official said..we need to update/change the transaction password every three months..however for ICICI no such rule exists. It is up to the customer to keep the password updated from time to time.

Internet banking saves lot of time involved in physically visiting bank branch and waiting in queue.

https://in.finance.yahoo.com/news/5-reasons-you-should-use-online-banking-services-055415503.html

I always do it as long as I feel safe using them The best strategy is to generate one ti,e password while making a transaction.

Internet banking saves lot of time involved in physically visiting bank branch and waiting in queue.

https://in.finance.yahoo.com/news/5-reasons-you-should-use-online-banking-services-055415503.html

I always do it as long as I feel safe using them The best strategy is to generate one ti,e password while making a transaction.

OTP generation is the safest way..and has become almost mandatory for any online transaction.

Internet banking saves lot of time involved in physically visiting bank branch and waiting in queue.

https://in.finance.yahoo.com/news/5-reasons-you-should-use-online-banking-services-055415503.html

I always do it as long as I feel safe using them The best strategy is to generate one ti,e password while making a transaction.

OTP generation is the safest way..and has become almost mandatory for any online transaction.

It's not mandatory but an option, they always ask you whether you want it or go for OTP. At least I find the same with all online sites I deal with.

Internet banking saves lot of time involved in physically visiting bank branch and waiting in queue.

https://in.finance.yahoo.com/news/5-reasons-you-should-use-online-banking-services-055415503.html

I always do it as long as I feel safe using them The best strategy is to generate one ti,e password while making a transaction.

OTP generation is the safest way..and has become almost mandatory for any online transaction.

It's not mandatory but an option, they always ask you whether you want it or go for OTP. At least I find the same with all online sites I deal with.

Most sites ask for OTP now , of course depending on the bank since some banks like ICICI , OBC and a few others have made it mandatory now , without whch you cannot complete the transaction

Apart from the discounts, we should look at some indirect benefits too.  Most of us would take a two wheeler or our car to go to the bank.  If we use internet banking, we save on petrol, which is actually savings for the nation in terms of precious foreign exchange.

Apart from this, internet banking saves a huge amount of paper.  When you open an account manually, particularly fixed deposit, you write out a big form, and wait for all those signatures.  And then you get the FD receipt.  But when you open an RD or RD online, there is no paper at all.  You can happily close the deposit anytime, within no time, with the help of the computer.

A day should come when more eighty per cent of the customers, open only on line FDs and RDs.  This will save thousands of trees, as we save paper in the process. 

And the poor bank staff will have less paper work, and better health. Better health of such people, will translate into better savings or better spending and so on.  This will have the best spin off for the society.  So, let us all realize the huge benefits of internet banking.

Apart from the discounts, we should look at some indirect benefits too.  Most of us would take a two wheeler or our car to go to the bank.  If we use internet banking, we save on petrol, which is actually savings for the nation in terms of precious foreign exchange.

Apart from this, internet banking saves a huge amount of paper.  When you open an account manually, particularly fixed deposit, you write out a big form, and wait for all those signatures.  And then you get the FD receipt.  But when you open an RD or RD online, there is no paper at all.  You can happily close the deposit anytime, within no time, with the help of the computer.

A day should come when more eighty per cent of the customers, open only on line FDs and RDs.  This will save thousands of trees, as we save paper in the process. 

And the poor bank staff will have less paper work, and better health. Better health of such people, will translate into better savings or better spending and so on.  This will have the best spin off for the society.  So, let us all realize the huge benefits of internet banking.

True, internet banking saves times for both the customers and the bank employee. In fact customers with registered mobile banking receive an sms after every transactions which makes any online transaction safe and secure.

Internet banking is really useful to make all transactions easily by sitting in one place and access the world on the other side. The person who knows about internet banking only gets much benefit from that. If you system is not updated then there is a chance for hackers to stole your precious data by using their malicious programs running under your browser. Sometimes if internet connection disconnected while paying the amount the amount debited from our transactions and there is no sms for that transaction the same is happening in Atm centers also. We should very careful in typing our bank details and stay away from unauthorized mails asking from bank details. Now-a-days a new scam email is coming with the image of the banks and to click the link to proceed further. If you click the link it is showing the bank page as like the original one. So we should be very careful while doing transactions online.

Well, there is another big big advantage of internet banking.  When we use the manual FD for example, that is also paper.  And when we save paper, we actually save trees.

Internet banking also saves on precious foreign exchange.  Guess how?

Well, every single time you take a two-wheeler or a car to go to the nearest bank, you spend on petrol.  Now, less use of petrol, results in saving of precious foreign exchange.

A day should come, when over 90 percent of all transactions are done online.  When this happens, the poor staff working in banks will also have a far better health and life.  I have worked in a bank.  Even with massive computerization, banking is one of the worst and boring jobs.

And on top of all this, how often do we feel comfortable standing in long queues or inviting the wrath of strangers who feel irritated when they feel we are eating their time, when we try to catch the attention of the Accountant or the Manager, for even the smallest of help?

Yes, but still a large group of even educated people trust paper work, they don't know how to use internet and hence are unable to do online banking transactions.

Internet banking has advantages and disadvantages residing side by side. To that matter every system has got both advantages and disadvantages. Wisdom lies in knowing the limitations and disadvantages of any system and act accordingly.

Internet banking creates paperless office and with the advent of apps of these banks more and more mobile banking connected with internet is slowly creating many new platforms for electronic commerce/ 

Internet banking creates paperless office and with the advent of apps of these banks more and more mobile banking connected with internet is slowly creating many new platforms for electronic commerce/ 

 

True. With the emergence of Apps, Internet made the things easier.

Internet banking creates paperless office and with the advent of apps of these banks more and more mobile banking connected with internet is slowly creating many new platforms for electronic commerce/ 

Yes, the introduction of banking apps have made it even more easy to use online transactions. With the introduction of android phones people have now access to many useful apps which is making life easier.