What is online banking?

Online banking is the abbreviation of online banking, also known as online banking, online banking or electronic banking. It is a virtual counter set up by banks on the Internet. Banks use network technology to provide customers with traditional services such as account opening, account closing, inquiry, reconciliation, intra-bank transfer, inter-bank transfer, credit, online securities, investment and wealth management through the Internet, so that customers can safely and conveniently manage current and fixed deposits, checks, credit cards and personal investments without leaving home.

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Advantages of online banking:

(1) greatly reduces the operating costs of banks and effectively improves their profitability. It reduces the use of personnel and improves the efficiency of the bank's back-office system.

(2) There is no limitation of time and space, which is conducive to expanding the customer base. It is not only conducive to attracting and retaining high-quality customers, but also actively expanding the customer base and opening up new profit sources.

(3) Using the Internet and bank payment system, it is easy to meet the needs of customers for consulting, buying and trading various financial products. In addition to banking, customers can easily buy and sell stocks and bonds online, and online banking can provide customers with more suitable personalized financial services.