Skip to main content

Why Online Banking is Safer Than What You Imagine?

Online Banking or net banking is a method of banking that allows the account holder to use all the banking service using an internet connection and a browser. This feature makes it a very favorable method of banking as it saves time and effort to visit the bank branch and wait in the queue to do the banking. There is another banking method that is similar to the net banking and it is called Mobile Banking. The difference between Net Banking and mobile banking is the use of Smartphone and a specifically designed app for banking purposes.
Whenever online banking is mentioned one of the concerns regarding the service is security. Security is essential when money is involved. There were numerous cases of online frauds in the past that makes us trusting the online banking unlikely. But, in the recent year, the technology has improved for providing the more secure and safe ecosystem for using the banking service.

How Banking Technology Has Improved The Banking Sector?

With the introduction of online banking, it made a huge impact on the account holders who are turning towards the use of online banking to meet their daily banking needs. It is simple, fast and accurate and is favorable for those who cannot visit the bank branch every single time. Over the time the technology has made the banking more and more secure to the user. These are the technology that made the banking website more secure-

SSL Certificate

SSL Stands for Secure Sockets Layer which is a certificate that secures the connection between the user and the server. This prevents any other third party to access the user id data and miss use it. This is very important to establish a safe connection between the server and user as the data transmitting in this channel is confidential and the 124 bit SSL certificate secure the path. Even for a supercomputer cracking the encryption code of a SSL Certificate can takes million of years which is impracticable.

Two-step Authentication

Two-step Authentication is a process of adding a layer of step that can prevent any miss guided and wrong transaction to take place. It is a OTP Based system that works by sending you a One Time Password (OTP) to your RMN which when entered will allow the service to engage.

SMS and E-Mail Alerts

Whenever there is a transaction or any details regarding the bank an E-mail and SMS Containing the details will be sent to your RMN.

What Are The Services Offered By The Online Net Banking?

Online Banking is the best method of banking and we can use the online banking method to use many of the banking services. The banking service offered to the account holder under the Net Banking is as follows-
·         Fund transfer Through NEFT
·         Fund transfer Through IMPS
·         Fund transfer Through RTGS
·         Bank account balance check
·         Bank Statement
·         Standing instruction
·         Bill payments
·         Online shopping
Source: Ask Bank IFSC Code


Comments

Post a Comment

Popular posts from this blog

How Payment Bank Will Change The Banking Sector?

Payment Banks is a new system of the bank that is similar to the traditional banking system but is different in many ways. This type of banks provides their own wallet where the money is stored and the wallet holder does all the transactions from the payment wallet. The payment banks cannot provide loans/ credit card to the customer and only wallet payment or digital debit card is allowed also there is a limitation of maximum Rs.1, 00,000 that can be deposited. Why Payments Bank? In the year 2014 RBI introduced a new model of the banking system by surveying the needs and requirement of the market. This survey is headed by Mr. Nachiket Mor with a team of a financial advisor. The reason for this introduction of the new banking system is- ·          To introduce low pay grade working class people into the financial system. ·          To embrace the digital method of payment ·          To promote digital India ·          To reduce income tax theft List of Payments Banks
Post a Comment
Read more

Current Account and its Benefits

Bank offers a variety of service and variety of account to open and store our money. One such account type is the Current Account that is specifically designed to provide the services to the business and organization to operate the fund transfer and business transaction efficiently and faster. What Is Current Account? Current Account is an account that is specifically designed to service the business and organization needs of the bank. Services like fund transfer using NEFT, IMPS and RTGS will be delivered with the best and faster speed. These account does not offer the interest like savings account but it does not have the limitation of a savings account Savings account comes with the limitation of fund transfer, daily limit, and other limitation that can become a problem while operating a business. To solve this, bank offer their client with the Current Account that does not have these limitations. Benefit of Current Account There are a lot of benefits of using the C
Post a Comment
Read more