Online banking also called as Internet banking, PC banking or home banking is the bank transactions online wherein the customers or the bank depositors conduct financial transactions to the website of their respective bank. Multinational banks operates a secured and complete online banking services whereas the smaller banks offers limited access first such as account balance and history of customer’s transactions, for a test. If the services succeed and gained customers that is the time, they will make it fully functional.

What are the services that they can offer?  The features were mostly into two categories the transactional and non-transactional. Transactional services include Fund transfer, bills payment, wire transfer, loan application and processing. The Non-transactional services are account balance, online banking statements, inquiry and the likes.

Internet banking developed in order to give a good and advance service to the clients.

No organization should stop in improving their business. In introducing a new service features to the industry, all should highlight the advantages that the customers can get from this. As for online banking, the advantages are as follows:

1. It offers convenience to the users.  You can check and do the transactions anytime and anywhere, all you need is the internet line and a desktop, whereas in regular bank, you need to travel to the location and wait for their banking hours.
2. Online banking offers fast transactions, people do not need to fall in line and wait for their turn. The processing speed is quick
3. Accessible 24/7 and regardless of your location, meaning if your account is registered into some place and you are out of town or even out of the country, still you can access your account balance, pay your bills, etc.
4. The internet banking is efficient and effective. They guarantee to have a secured and well-monitored site by the administrator.

All things do have disadvantages. The only matter is how well you gained and how much you will lose. Here are some disadvantages of online banking:

1. For security, before you can register for online account, they will require you to submit some needed requirements that you may take as a hassle for your busy schedule.
2. You need to invest some time in reading online banking rules and regulations
3. Constant changes of the Bank site that may take you to confusion and commit some mistakes

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