Net banking, also known as internet banking, is a digital system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institutions website or mobile app. With net banking, customers can complete a range of banking tasks, including money transfers, creating fixed deposits and recurring deposits, and tracking transactions, without the need to visit a physical bank branch.

Here are some key features and advantages of net banking:

Features:

• Making electronic payments
• Viewing account balances
• Obtaining statements
• Checking recent transactions
• Transferring money between accounts
• Applying for loans or insurance online
• Managing debit/credit cards and updating addresses through internet banking
• Blocking a card or updating primary account details

Advantages:

• Convenience: Customers can access banking services from anywhere, anytime, without visiting a physical bank branch.
• Time-saving: Customers can complete banking transactions quickly and efficiently.
• Secure: Net banking provides a secure environment for conducting banking transactions.
• Cost-effective: Net banking is a cost-effective way to conduct banking transactions as it eliminates the need for physical bank branches.
• Access to a wide range of services: Net banking offers a wide range of features and benefits, including the ability to manage accounts, pay bills, transfer money, and more, all from a computer or mobile device.

To use net banking, customers need to register for the facility while opening the account or later. They have to use the registered customer ID and password to log into their internet banking account.