The Modern Modes of Banking

The usage of internet over the last few decades has soared. It has completely changed the way chores are taken care of now. Be it communication, shopping, money transaction or boosting the work sector. The changes are amazing and significant.

Internet has given people the feasibility to carry out their tasks while on the go. With every sector catching on this need of their consumer the banking sector is no different. Every bank these days is getting equally competitive with a huge trail of services they have on offer.

The consumers are getting modern and so are the banks moving ahead from the traditional way of banking. Internet and mobile banking have paved the paths to new chapters in the banking sector. Let us put light on the many advantages of these features.


Payment of Utility Bills: Standing in lengthy queues and paying your utility bills can be a real tedious task. It gets even tough if you happen to miss on the due date of the payments to be made. There are many private sector banks who understand this need of yours. Now you can pay your utility bills or mobile recharge online. Some even have gone ahead and given you the service of setting your account on recurring mode to make your bill payments time to time. So now you can peacefully carry on with your busy schedules as your bill payments are completely taken care of.

Fund Transfer: A cheque takes at least three working days to get encashed in your account. However certain circumstances can ask for a huge amount within a short span of time. When under such circumstance, internet banking can prove to be very effective. It comes with feasibility to conduct large transactions online. For instance you can pay your child’s fee online or as small as conducting a prepaid mobile recharge.  Where you can transfer money to another bank account of the same bank or other bank, however transactions to other banks are charged some nominal fee depending upon bank to bank.

Account Details: You needn’t every time step into the bank to update your passbook and to get hold of your account details. You can now keep a tab on your account online as well. With your unique log-in identity number, you can avail all your account details. The money debited and credited, if you have undertaken a loan from the bank then the whereabouts of the EMI etc.

Ask for Service: Banks are completely at your service these days. You needn’t write a big formal letter to the branch manager requesting for a certain service to be provided to you. Their websites are designed in such a manner that all your needs are just a click away. You can request for a new cheque book, passbook or stop of a cheque payment and many such tasks are now just a click away.

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