e-Banking: Features, Advantages, Disadvantages, Attacks, Frauds | Commerce

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Financial institutions now routinely allocate customers numbers, whether or not customers have indicated an intention to access their online banking facility.

Customer numbers are normally not the same as account numbers, because a number of customer accounts can be linked to the one customer number.
Technically, the customer number can be linked to any account with the financial institution that the customer controls, though the financial institution may limit the range of accounts that may be accessed to, say, cheque, savings, loan, credit card and similar accounts.
The customer visits the financial institution's secure website, and enters the online banking facility using the customer number and credentials previously set up.
Each financial institution can determine the types of financial transactions which a customer may transact through online banking, but usually includes obtaining account balances, a list of recent transactions, electronic bill payments, financing loans and funds transfers between a customer's or another's accounts.

Most banks set limits on the amounts that may be transacted, and other restrictions.
enable customers to download copies of bank statements, which can be printed at the customer's premises (some banks charge a fee for mailing hard copies of bank statements).
enable customers to download transactions directly into the customer's accounting software.
The facility may also enable the customer to order a cheque book, statements, report loss of credit cards, stop payment on a cheque, advise change of address and other routine actions.
Chapters:
0:00 E – Banking
2:48 Features of E-banking
3:36 What Is Electronic Banking?
5:05 Digital Payment Methods In India
5:40 Advantages of E-banking
7:08 Disadvantages of E-banking
9:33 Attacks on E-banking
12:33 Internet banking frauds
19:11 Questions About E –banking
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