What is Net banking? How to use Net banking [- in 2022 ]

What is Net banking? Activation

After 2014, almost all people have their bank account. When we open any bank account, we always apply for ATM card. With ATM card we also ask to our bank for Net banking Activation. These two services are very important when we apply for any bank account.

We often go bank for different necessary works but there we have to stand in long queues because of the heavy crowd. But nowadays people are smart and they mostly use online apps and platforms for their transactions or transfer of money for any random purpose. Online transactions are very fast with many options like UPI, Wallet, Net banking etc where we can both send and receive money within a few seconds.

This is the reason behind why all people started using Net banking for their bank related works. But it is also not available for some of the banking transfers but still it is useful for most of us that’s why it is widely used. Today in this artical, we will tell why we use Net banking and how can we use Net banking, so please read this blog till end.

Net banking is the feature given by almost all banks using which bank account holders can get the information of their account at any time without even going their base branch.

Any bank account holder can send and receive money using this feature by his phone or laptop. User just need an internet connection in his system for this process.

What is Net Banking ? Why we use it? What are the benefits of using it?

Just having Internet in your phone you are allowed to do transactions from your account to any site by Net Banking. Internet Banking is also popular with names like Mobile Banking and Web banking.

Using this feature or facility, the work which you have to do by going to your bank is now available to be done at your home. Shopping Malls, electric bills, Mobile Recharge, DTh recharge, water supply bills, home rent, maintenance charges are now available to pay just by sitting at your home using Net Banking.

If you want to start this service, firstly you have to go bank (base branch) and then you have to apply for it. For it’s application, may be you have to fill a form but it depends on your bank.

Now when your registration is completed, bank will give you your user ID and password for Net Banking. Using these credentials now you can access your account for it.

Mostly this service is used to transfer money from one account to another and also for paying bills for different things. Instead of these things, there are also some other facilities provided by bank in Net banking.

Now in some banks online cheque payment is also available where you can issue a check by taking its front and back pic and uploading it on the banking app. This facility is not available on Net banking.

As it is known to us that Internet Banking is also known as E Banking where all transactions are within 3 things: Bank Sender and Receiver. So for credential theft or any other issue is not there.

For any Net Banking transaction, firstly you should have your access user id and password.
If you have access I’d, you should apply it from bank.

This is done at bank because of security purposes. Now at bank only you having your phone and signature can get access of these access I’d and password.

For more security, this transaction is not only completed with user id and password. You should also have the OTP- one time password which will be generated when you apply for any such transaction. So now you don’t need to worry about any such fraud where by knowing user id and password people try to attempt fraud.

Now in simple and short way, these are the following steps you have to follow to do while doing any Net Banking transaction:

You should have one of these things :

  • Computer
  • Desktop
  • Laptop
  • Smartphone
  • Tablet
  • After having at least one of them, now you should have a proper Internet Connection for proper transfer of data.
  • After these things, you have your user id and password in your hand which will be needed to input in the fields when asked.
  • Simply Open the site or app
  • Login with your credentials
  • Choose your work that you want to do.
  • Complete with OTP

So guys these are the steps which you have to follow while any Net banking transaction.

For beginners there will be a question in there mind that after any transaction is there any receipt will be provided by the bank?? So the answer is yes but this receipt will be E receipt. But you can take its print out from any cyber cafe. If you do any deposit in your bank, they give you a deposit receipt. There are many chances of losing that paper but the E receipt you get after any online transaction will be there in your phone even after a long time.

Even so much of its advantages there are some disadvantages too or we can say that there are also some limitations of it.

Disadvantages/Limitations of Net Banking:</h3

  • Lack of knowledge: At beginner level , net banking is still a difficult process to do in your phone. Also if the amount is high there will be chance of losing it. So it is difficult for new users to use it.
  • Hacking: Even after so much security given by bank like used id and two step verification – OTP, some hackers are still attempting to crack and get money from users. They are just waiting for your single mistake that you do and they will be able to steal your money.
  • Rural Background Connectivity: People from rural Background still don’t have good internet connection. Due to this they are not able to do any type of online transaction like UPI, wallet and Net banking.

Leave a Comment