Net banking , online banking
Till a decade ago, for most banking transactions,the customer had to visit the bank branch. As internet usage increased, banks started offering internet banking facilities to their customers. Initially only banks with fully computerized and networked branches could offer internet banking, but later most banks computerized their systems and could offer this facility.
Internet banking is advantageous to both the customer and the bank. Often a customer has to visit the branch just to check the status of the check deposited or issued. Banking hours are limited to 6-7 hours on working days for most banks, so it often becomes inconvenient for a customer who has a regular job to visit the bank often. By using internet banking, the customer can check the status of the cheque online at any time as per his or her convenience.
Banks also benefit from internet banking, since the same number of employees have to handle fewer queries from the customer. This reduces overheads and expenses, so most banks provide free internet banking facilities. They also hold many promotional programs for customers who use internet banking to check their balance as well as to make purchases and payments online.