![]() ![]() Online banking is part and parcel of the core banking system handled by the bank.Īny customer of the bank can avail this facility by registering, with the concerned bank for the facility and set up the password and other credentials for account holder’s verification. anytime and anywhere using the bank’s website. Put simply internet banking is an electronic payment system, that allows the bank account holder to execute the monetary transaction, such as bill payments, fund transfer, stop payment, balance enquiries, etc. ![]() It is like a revolution, in the era of the traditional banking system, which does not require customers to visit the bank branch to proceed a simple bank transaction. Internet Banking can be understood as the banking method, in which the financial transactions are conducted with te help of internet. Further, the mobile banking also offers advanced security by sending alerts or notifications on the registered mobile number, on the account’s activity. Transactions that take place through mobile banking includes online payment of bills, locating an ATM, fund transfer, monitoring account balances, the list of latest transactions, m-commerce, mobile/DTH top-up, etc. The customer can avail this service anytime and anywhere. It can take place through short message service (SMS), mobile web or application. Mobile banking can be described as the facility provided by the banks to its clients, in which they can access their bank accounts and undertake monetary transactions remotely using mobile telecommunication devices like smartphones, tablet or cellular device. Short message service, mobile application or website Internet banking implies a service that allows the customers to conduct the financial transactions electronically, with the use of internet. Mobile banking refers to an internet based facility provided by banks that enables the customers to execute bank transactions, via cellular devices. Content: Mobile Banking Vs Internet Banking In this article excerpt, we are providing you all the important differences between Internet banking and mobile banking, take a read. Internet Banking is not similar to mobile banking, which implies a wireless, internet-based facility provided by the banks to their customers, to operate their bank accounts, through handheld devices such as smartphones, tablets and so forth, with the help of a website or a mobile application.Īs the services provided by the two facilities, resembles a lot, there are instances when people assume that they are one and the same, though they are not. ![]()
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