Have you ever been curious about what is internet banking and how it can benefit you? Internet banking, also called net banking, is a convenient way to manage your funds without the need to physically visit a bank branch. With just a few clicks, you can access distinct banking services from the convenience and comfort of your home, office, or wherever you are. Let’s dive into understanding internet banking’s meaning in detail, explore its benefits and features, and learn about its registration and activation process.
What is net banking?
Net banking is a service offered by financial institutions that allows you to conduct financial transactions and access distinct banking services online. With net banking, you can transfer funds, create fixed deposits, monitor your daily transactions, clear bills, and do much more without stepping into a physical bank branch.
Any individual with an active savings account, whether a zero-balance account or an account with a minimum average balance requirement, can use net banking, provided they have registered for the service. Once registered, they can use the internet banking services offered by the financial institution.
What are the features of internet banking?
Internet banking comes with various features that make it a popular option among users. Crucial features include:
| Convenient access | Access a variety of banking services at anytime from anywhere |
| Account management | View transaction history, check account balances, and download statements |
| Fund transfers | Easily transfer funds between accounts or to other bank accounts or via RTGS, IMPS, and NEFT |
| Bill payments | Pay outstanding credit card dues, utility bills, and other payments online |
| Secure environment | Perform transactions securely with multi-factor authentication and encryption |
| Loan application | Apply for pre-approved or regular loans online |
| Card management | Manage your credit cards and debit cards seamlessly online. In the case of card misplacement, the option to block lost cards is also available |
| Service requests | Update residential and office address, order chequebooks, and manage non-financial services effortlessly |
How to register for net banking online?
Registering for net banking is an effortless process. Here’s how you can do it:
- Visit your bank’s official internet banking site
- Click on ‘log in’ and choose ‘personal’ or the relevant option
- Click on the ‘register’ option for net banking
- Select between ‘view and transact’ or ‘view only’ options
- Input your account information, verify through OTP, set your ID and password, and complete the registration process by setting up security questions
How to activate net banking?
Activating net banking is easy once you have registered. For activation, you just need to log in with the credentials you set up during registration. Crucial document information required for registration may include debit card or credit card details, account details, PAN information, and customer ID.
Some banks provide online banking services from the very beginning. For instance, with IndusInd Bank, you can open a savings account online through a 100% digital and paperless process. In such a case, you do not have to separately register for or activate net banking services – you will be able to access them from the day your account is set up.
To sum up
Net banking has changed the manner in which finances are managed today. It offers unparalleled convenience, accessibility, and security. Whether you need to transfer funds, pay bills, or monitor your account activity, net banking simplifies these activities, allowing you to manage your banking needs efficiently.
Being aware of the registration and activation process for net banking is essential for getting started. Note that both the registration and activation process can be performed online with just a few clicks. Once done, you can experience its numerous benefits and manage your finances with ease.
So, do not procrastinate – skip the traditional banking methods and start using online banking today!
