The usage of internet for banking purposes has been evolved since 1990s. The low costs for operations and convenience is the main reason why most people today depend internet baking. The relationship between customer and the bank is well maintained with the introduction of net banking. It becomes easier for the bank to communicate with the customer. It also reduces the workload of staffs in the bank so that clerical mistakes are easily avoided. Moreover, faster services are given to the customers by skipping long queues and processing time in the bank. It is all because of the faster growth in the information technology.
The main attraction of the net banking is that even international banking can also be very smoothly operated. The other advantages include twenty four-seven services for the customers and well organization of cash management. The resources needed for a transaction like capital, labor and time is well managed. The competition between the banks also benefits the customers to great extent. The integrated services of banks are an example of that which is offered with an aim to increase their market share. The security technologies used in the net banking is also appreciable even though number of fraudulent activities is reported in the different regions of the world.
The financial transactions are done electronically using computers in the internet banking. Most of the transactions like withdrawal, deposit, inter account transfer, inquiry and transactions of administrative sector are possible through net banking. Even the non administrative transactions are also possible using this facility within short span of time. The authorization from the card holder is always checked before the internet banking transactions. The different methods of internet banking include online banking, service banking- short message, telephone banking, mobile banking and interactive TV banking. All what a customer needs is the access to internet.