Online banking, also known as internet banking and ebanking, is simply the process of doing your banking transactions online, via your computer, rather than physically going to your bank. Online banking can be used to make deposits and withdrawals. It can also be used to pay bills once your accounts are properly set up for online transactions.
Online banking, is a great way to do your banking business without having to leave home. It is very convenient. With today’s added security features, internet banking is also a safe way to do your banking. However, as with all things “online” you need to take some basic precautions.
Online banking can be used to access personal or commercial bank accounts. In fact, with more and more things being done on a global basis, online banking is becoming more popular than ever. The truth is that most of us use online banking almost exclusively and hardly see paper cheques these days.
Online Banking access requires that you have an internet connection and a computer. Dial up accounts will work, but broad band internet is better. You need to set up the account up with your bank. But once you have done so you can access your account with just a few mouse clicks. The best thing is that you can access your account 24/7.
Online banking allows you to have unlimited access to your accounts. It allows you to keep track of your Cheque account balance; you can see which cheques or bills have cleared your account, and if you wish, you can authorize payments to utility companies. You can also pay bills by B-Pay or set up Direct Debits from your Bank Account.
Online banking can also be used for other types of accounts as well, such as monitoring your savings account.Most banks will allow you to set up online accounts for all of your accounts and they keep them separate for you, which will minimize confusion.
A few precautions should be taken to avoid problems when you are doing your online banking. Firstly, you will be asked to set up a username and password for your account. You should never give out this information to anyone. If someone has that information they can access your account and cause all types of problems for you.
You should treat your password as carefully as you would treat your ATM PIN.
Most banks will never call you and ask you for your password. They will never send you an email asking for that information either. If you get a phone call from someone stating that they are from the bank, refuse to give out your password. Instead, tell them you will call them back and get their name and extension number at the bank. Then call the correct number for your bank and ask for the person that called you. This way you know you are talking to the bank and not to someone who may be pretending to be from the bank.
If you notice any discrepancies with your online statements you should contact the bank immediately. They can, if need be, put a stop payment on something that is suspicious or that you did not authorize.
Online banking is a great way to save time and energy and because it is so safe and secure these days, it is really worth the effort it takes to get it set up.
Once you try Online Banking, you will love it, you’ll never look back!
Online Services had a much narrower meaning or scope in the early days of the internet than it has today. Originally Online Services referred to services provided by online businesses to its paid up members via electronic means over telephone cables. The members dialed into the Online Service Providers’ private computer network via a dial-up modem. These Online Services provided content for all of their members as well as access to communication with other members of the same provider via email, bulletin boards, ftp downloads, forums, and chat rooms.
Access to these Online services was strictly by subscription only. This meant that each service and its members were effectively isolated online communities of their own. Far from the open and free internet we enjoy today. The largest and most well known Online Service providers in those times were America Online (AOL), Compuserve, and MSN. The first two of which I confess to having had a subscription to.
However, in recent times two other definitions of Online Services have currency.
Online Services are defined as:
This second contemporary definition of Online Services includes a whole range of services that could only be found offline previously and a host of new services that didn’t exist before the proliferation of the internet. They include online shopping of all kinds, online banking, online health advice, online government sites, online car insurance, universal e-mail, online news services, music, movies ticketing , betting, chat, internet protocol telephones, internet protocol television and so on. Just a few months ago Subaru sold a car online that was not available anywhere except online!
The beauty of these online services is in reducing the time needed to avail yourself of the goods or services on offer and the larger degree of choice and flexibility you enjoy. There are services that do the comparisons between different providers’ offerings to further improve the quality of your purchase.
As a result choice for consumers has exploded! Online marketing and trading have become very popular. Online sellers and dealers have much more opportunity to display ads on their Websites in order to attract buyers from all over the world. However, as a result of this greater competition there are many online stores which provide genuine products at cost effective price rates.
We can see that the world of Online Services has changed almost beyond recognition since the early days of the internet. Online Services have changed from largely insular and exclusive electronic communities to an almost universal inclusive global village.