E-Banking System Benefits and Issues

E-Banking has become an important factor in the future development of banking industry. Electronic banking or online banking is a service provide by many banks that allow handling of all types of banking business, primarily over the internet by using the information technology and communication. In many developed countries E- banking plays a very vital role due to the fact that it’s the cheapest way of providing banking services. Beside this it also facilitated swift movement of funds domestically and across borders. It is a border less entity permitting anytime, anywhere and anyhow banking to its customers. E-Banking is one of the most successful on-line businesses, which save the time and money of customers and companies. It is easily accessible anywhere to a PC, PDA, mobile device, with an internet connection. It also enables the customer to conduct financial transactions on the website of the institution, such as virtual bank, retail bank, a credit union etc. Despite of many benefits of E-Banking, there are some factors which affect its usage. This research paper will introduce you to e-banking, giving the meaning, functions, types, advantages and issues. In short e-banking is anytime and anywhere banking.