Ac11mbf 073 E-banking

8/3/2019 Ac11mbf 073 E-banking

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The precursor for the modern home onlinebanking services were the distance banking services

overelectronic media from the earl 1980s.

The term online became popular in the late '80s andreferred to the use of a terminal,

keyboard and TV (or monitor) to access the bankingsystem using a phone line.


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Protection through single passwordauthentication, asis the case in most secure Internet shopping sites .

Is not considered secure enough for personal onlinebanking applications in some countries.

The PIN/TAN system where the PIN represents a

password, used for the login and TANs representingone-time passwords to authenticate transactions.


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Branch networks

Cash machines

Automated teller machine

Interest

High-yield checking accounts

Telephone banking

Mail banking


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An overdraft occurs when withdrawals from a bankaccount exceed the available balance.

his gives the account a negative balance and in effectmeans the account provider is providing credit.

If the balance exceeds the agreed facility then feesmay be charged and a higher interest rate might apply.


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y All transactional accounts offer itemized lists of allfinancial transactions, either through a bankstatement or a passbook.

y A transactional account allows the account holder to

make or receive payments by:


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Internet or Online banking describes the use of a

bank's secure website to view Balances and statements

perform transactions and payments, and various other

facilities..


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y ATM cards (withdraw cash at anyAutomated Teller

Machine)y debit card (cashless direct payment at a store or merchant)

y cash money(coins and banknotes)

y cheque and money order (paper instruction to pay)

y direct debit (pre-authorized debit)y Electronic funds transfers (transfer funds electronically to

another account)

y giro (funds transfer, direct deposit)

y standing order (automatic funds transfer)y SWIFT: International account to account transfer.

y Online banking (transfer funds directly to another personvia internet banking facility


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Telephone banking is the term applied to specificprovision of banking services over the telephone.

In many cases such calls are to a call centre

automated service, although some institutions

continue to answer such calls in their branches.


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Pay Your Bills Online

View Your Transactions

Transfer Money Between Accounts

Protect Yourself Online


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Impersonal.

Lack of trust

Difficult for first timersSecurity fraud


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Ac11mbf 073 E-banking

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