Online Banking – An Easy Way to your Financial Transactions
Banks provides the account as facility to safe keep the money and carry out the transactions through it. There are two types of the accounts generally offered for the above needs. First is Saving account for the individuals and a current account for the businesses.
Savings account is either issued with a zero balance or minimum balances. The benefit offered by the bank for saving account is that some interest becomes payable at the end of the month hence this encourages the customers to keep their money in savings account. Interest is not generally payable in current account. The bank also has some benefits where people keep the idle funds in accounts which can be used by the bank for lending purposes. Such balances are called the Savings Account balance. Post internet and mobile revolutions the saving account balances can be viewed by sitting at home and also the transactions can be monitored.
Post the e commerce revolution, the account holder has many tools to carry out the banking transactions such as transfer or making payments. One of the tools is the account balance check online where you can access your account at any point of time and check for the balance using internet or the mobile applications. This is really convenient instead of standing in queue in the bank or looking for the ATM counters for checking your balance.
There is a separate login detail provided to each customer through which the account can be accessed by using the internet and account balance can be verified.
How is Saving Bank A/c different from Fixed Deposit
Saving Bank Account Balance is different from Fixed deposits where the amount deposited will not be liquid and cannot be used at the will of the customer. In this case the customer has full independence to withdraw and deposit at any point of time.