Online Banking Definition

Online banking is also known as internet banking or web banking an online bank offers customers just about.

Online banking definition. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking. The first is the kind where a brick and mortar bank allows their customers to access their account information online instead of having to go to their bank s local branch. Online banking also known as internet banking or web banking is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution s website.

The internet banking definition is comprised of two types of online banking services. The process or activity of managing bank accounts or operating as a bank over the internet. Online banking is designed to be convenient saving you time and letting you do banking on your own schedule rather than only during the hours your local bank branch is open.

A system allowing individuals to perform banking activities at home via the internet. Online banking typically is comprised of a secure connection to banking information through the depositor s home computer or another device. Almost anything you can do at a traditional bank or credit union location you can accomplish online starting with opening an account.

The system that allows you to put in or take out money from a bank account by using the internet. Some online banks are traditional banks which also offer online banking while others are online only and have no physical presence.