Online banking offers users plenty of flexibility and control in managing their financial accounts. As the service has developed, banks have offered even more features to their userssome of which are only possible over the medium of the web. These are recognized as such in the listing below, which has been borrowed and modified from the Wikipedia article “Online Banking.” Visit your bank’s website for more information on how online banking can make your life easier.Traditional Features

• Transactional
  • Electronic bill presentment and payment – EBPP
  • Funds transfer between a customer’s own checking and savings accounts, or to another customer’s account
  • Investment purchase or sale
  • Loan applications and transactions, such as repayments of enrollments
• Non-transactional (e.g., online statements, check links, cobrowsing, chat)
  • Bank statements
• Financial Institution Administration -
  • Support of multiple users having varying levels of authority
  • Transaction approval process
  • Wire transfer

Features Unique to Internet Banking

• Personal financial management support, such as importing data into personal accounting software. Some online banking platforms support account aggregation to allow the customers to monitor all of their accounts in one place whether they are with their main bank or with other institutions.