What is E-Banking? State the benefits of e-banking to banks.

1.	What is E-Banking? State the benefits of e-banking to banks.
Answer» E – banking or Electronic banking means conduct of banking operations through electronic means or devices such as computers, telephone, mobile phone, ATM, etc. Benefits of E-Banking Services: E-Banking provides 24 hours, 365 days a year services to the customer of the bank. The operating cost per unit services is lower for the banks. It offers convenience to customers as they are not required to go to the bank’s premises. There is very low incidence of errors. The customer can obtain funds at any time from ATM machines. The customer can easily transfer the funds from one place to another place electronically.

Answer»

E – banking or Electronic banking means conduct of banking operations through electronic means or devices such as computers, telephone, mobile phone, ATM, etc.

Benefits of E-Banking Services:

E-Banking provides 24 hours, 365 days a year services to the customer of the bank.
The operating cost per unit services is lower for the banks.
It offers convenience to customers as they are not required to go to the bank’s premises.
There is very low incidence of errors.
The customer can obtain funds at any time from ATM machines.
The customer can easily transfer the funds from one place to another place electronically.

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What is E-Banking? State the benefits of e-banking to banks.

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