Online banking is an electronic payment system that enables customers of a financial institution to conduct financial transactions on a website operated by the institution, such as a retail bank, virtual bank, credit union or building society. Online banking is also referred as Internet banking, e-banking, virtual banking and by other terms.
To access a financial institution's online banking facility,
a customer with
Internet access would
need
to register with the institution
for
the service, and set up some password (under various names) for customer verification.
The password for online banking is
normally not the
same
as for telephone banking.
Mobile Banking is a Banking process without bank branch which provides financial services to unbanked communities efficiently and at affordable cost. To provide banking and financial services, such as cash-in, cash out, merchant payment,
utility payment, salary
disbursement,
foreign remittance, government allowance disbursement, ATM
money withdrawal through
mobile technology
devices, i.e. Mobile
Phone, is called Mobile
Banking.
SMS Banking: