|HOME | MONEY | PERSONAL FINANCE | BANKING|
|May 6, 2000||
Ah! The convenience of Internet banking. You can access details of your account any time of the day, or night for that matter. Who's to bother with a trip to the bank? You can operate from your home or office and, maybe, even from a cybercafe.
But before you do decide to opt for Internet banking, make sure that the services offered match your expectations. Broadly, there are four areas on which you should focus on: services offered over the Net, transfer of funds, account history and security.
ServicesCan you stop payment of cheques? Does the bank permit ordering of cheque books over the Net? If yes, how many days will it take to reach you? Is it possible to report the loss of an ATM card online? What about payment of credit card bills online? Can credit card transactions be viewed over the Net? Requests for a new fixed deposit or renewal of existing deposits? Payment of electricity or mobile bills online? For demand draft requests, does the draft get delivered to your own address or to that of a third party?
Funds transferCan you transfer funds between accounts of the same bank? Do both the accounts have to be in your name or can you transfer from your account to someone else's account? Can you transfer funds from your account to an account with another bank?
Account historyHow far back does the account history go? Can you download just the last transaction, the past four transactions or maybe even the past 10 transactions? Will you get a detailed report of a particular account? Is account information restricted to balance and statement enquiry. Can you check the balance in just one account at a time or do you have the option of checking it in all your accounts. Do you have the option of retrieving information on the basis of criteria other than name (date or amount). Can you check how many cheques have been issued or deposited in the past, say, eight transactions?
SecurityHow many login attempts are permitted before the password is disabled? Can you pre-set an activity period if your terminal is left unattended? For example, you are accessing information on your account but some urgent work cropped up and you left your terminal unattended. After, say 5 minutes or 10 minutes or maybe even more, will access automatically get terminated? Everytime you log in, will the last date and time of login be displayed?
Besides hardcore banking, keep an eye open for other facilities as well. Does the bank offer free Net access for a fixed number of hours, can you customise your account. ICICI Bank offers to nickname your accounts to avoid remembering detailed account numbers.
For starters, you can take a look at the demo offered by various banks on their sites. See which one you are most comfortable with. Here are the banks which you can check out: ICICI Bank (www.icicibank.com), HDFC Bank (www.hdfcbank.com), Global Trust Bank (www.globaltrustbank.com), IndusInd Bank (www.indusind.com), UTI Bank (www.utibank.com) and Federal Bank (www.federal-bank.com).
ROMANCE | NEWSLINKS | BOOK SHOP | MUSIC SHOP | GIFT SHOP | HOTEL BOOKINGS
AIR/RAIL | WEATHER | MILLENNIUM | BROADBAND | E-CARDS | EDUCATION
HOMEPAGES | FREE EMAIL | CONTESTS | FEEDBACK