The main advantages of E-banking are :1.The operating cost per unit services is lower for the banks.

2.It offers convenience to customers as they are not required to go to the bank's premises. 3.There is very low incidence of errors. 4.The customer can obtain funds at any time from ATM machines. 5.The credit cards and debit cards enables the Customers to obtain discounts from retail outlets. 6.The customer can easily transfer the funds from one place to another place electronically.

The main advantages of E-banking are :1.The operating cost per unit services is lower for the banks. 2.It offers convenience to customers as they are not required to go to the bank's premises. 3.There is very low incidence of errors. 4.The customer can obtain funds at any time from ATM machines. 5.The credit cards and debit cards enables the Customers to obtain discounts from retail outlets. 6.The customer can easily transfer the funds from one place to another place electronically.

The popular services covered under Ebanking include :1.Automated Teller Machines, 2.Credit Cards, 3.Debit Cards, 4.Smart Cards, 5.Electronic Funds Transfer (EFT) System, 6.Cheques Truncation Payment System, 7.Mobile Banking, 8.Internet Banking, 9.Telephone Banking, etc

DEFINITION OF E-BANKING Electronic banking, also known as electronic funds transfer (EFT),is simply the use of electronic means to transfer funds directlyfrom one account to another, rather than by cheque or cash. Youcan use electronic funds transfer to: Have your paycheck deposited directly into your bank or credit union checking account. Withdraw money from your checking account from an ATMmachine with a personal identification number (PIN), at your convenience, day or night. Instruct your bank or credit union to automatically pay certainmonthly bills from your account, such as your auto loan or your mortgage payment. Have the bank or credit union transfer funds each monthfrom your checking account to your mutual fund account. Have your government social security benefits check or your tax refund deposited directly into your checking account. Buy groceries, gasoline and other purchases at the point-of-sale, using a check card rather than cash, credit or a personalcheck.

E-BANKING Use a smart card with a prepaid amount of moneyembedded in it for use instead of ca sh at a pay phone,expressway road toll, or on college campuses at the library'sphotocopy machine or bookstores. Use your computer and personal finance s oftware tocoordinate your total personal financial management process,integrating data and activities related to your income, spending,saving, investing, recordkeeping, bill-paying and taxes, alongwith basic financial analysis and decision making

Electronic Banking For many consumers, electronic banking means 24-hour access to cash through an automated teller machine (ATM) or Direct Deposit of paychecks into checking or savings accounts. But electronic banking now involves many different types of transactions. Electronic banking, also known as electronic fund transfer (EFT), uses computer and electronic technology as a substitute for checks and other paper transactions. EFTs are initiated through devices like cards or codes that let you, or those you authorize, access your account. Many financial institutions use ATM or debit cards and Personal Identification Numbers (PINs) for this purpose. Some use other forms of debit cards such as those that require, at the most, your signature or a scan. The federal Electronic Fund Transfer Act (EFT Act) covers some electronic consumer transactions.

What are the disadvantages of E-Banking?

In: Credit and Debit Cards, Commercial Bank and Checking Accounts [Edit categories] Answer: Improve 1. E-banking promotes lack of socialising/social contacts 2. Hackers may intercept data and defraud customers 3. Phone bills can increase 4. Customers will be more vulnerable to phishing 5. Customers are compelled to have computers at home, Internet access and computers skills 6. Easier for customers to mismanage their accounts due to the 24-hour service that will be available Note: There are comments associated with this question. See the discussion page to add to the conversation.