Define e-Banking. Explain the various types of Bank Accounts.
Define e-Banking. Explain the various types of Bank Accounts.
E-banking means any user with a laptop and a browser can get connected to the banks website to perform any of the virtual banking functions and avail of any of the banks services.There is no human operator to respond to the needs of the customer.
(i) E-banking provides services 24 hours, 365 days a year to the customers of the bank.
(ii) Customers can make some of the permitted transactions from office or house or while travelling via mobile telephone.
(iii) It develops a sense of financial discipline by recording each and every transaction.
(iv) Greater customer satisfaction by offering unlimited access to the bank, not limited by the walls of the branch and less risk as well as greater security to the customer as they can avoid travelling with cash.
Types of Bank Accounts are :
(i) Saving Deposit Account : A person can open a savings deposit account by depositing a small sum of money. He can deposit money and withdraw money from his account whenever required.
(ii) Current Deposit Account : The account holder can deposit and withdraw money whenever desired. This account is generally opened by the businessman.
(iii) Fixed Deposit Account : A fixed deposit is repayable after the expiry of the specified period of time. The period may vary from 6 months to 5 years.
E-banking means any user with a laptop and a browser can get connected to the banks website to perform any of the virtual banking functions and avail of any of the banks services.There is no human operator to respond to the needs of the customer.
(i) E-banking provides services 24 hours, 365 days a year to the customers of the bank.
(ii) Customers can make some of the permitted transactions from office or house or while travelling via mobile telephone.
(iii) It develops a sense of financial discipline by recording each and every transaction.
(iv) Greater customer satisfaction by offering unlimited access to the bank, not limited by the walls of the branch and less risk as well as greater security to the customer as they can avoid travelling with cash.
Types of Bank Accounts are :
(i) Saving Deposit Account : A person can open a savings deposit account by depositing a small sum of money. He can deposit money and withdraw money from his account whenever required.
(ii) Current Deposit Account : The account holder can deposit and withdraw money whenever desired. This account is generally opened by the businessman.
(iii) Fixed Deposit Account : A fixed deposit is repayable after the expiry of the specified period of time. The period may vary from 6 months to 5 years.
