Banking through internet is called internet banking. It can also be called as electronic banking. Many banks have their websites. They offer banking facilities such as account inquiry, request for statement and cheque books etc on the net. The introduction of Security First Network Bank (SFNB) in 1995 in USA is the first step in the development of internet banking.


These banks also provide ATM Card, a visa cheque and Electronic bill payment facilities. For example we can visit www.onlinesbi.com to get the SBI’s internet banking. This is available at certain designated Branches of SBI. We can access our account (s) at the host Branch through your Personal Computer, from your location.


Following banking transactions can be done through the internet banking. We can access and view our account to keep transactions and balance status. We can make account inquiry by transaction type/between dates/by amount etc. The request for transfer of funds between your accounts can be made at the host branch.


Request for issue of cheque books, stop payment of cheque, issue of drafts or bank cheques from the funds in your account, request for issue of term deposits, renewal of term deposit receipt or special term deposit can be made through the websites. We can also issue standing instructions on our account. The internet banking can be done through smart phones and it has made transactions at ease.



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