E-banking has advantages for banks and their customers.

It is beneficial for the

customers in the following ways:
* The customer has 24 hour service 365 days.
* The customer can collect from anywhere.
* Customer feels safe because he / she does not need to / to carry money with him or her.
It is advantageous for the bank as follows:
* The Bank has the goodwill value that customers are satisfied with the fast transactions.
* The banking network is not restricted, as it is connected to any branch of the bank.
* Bank pressure decreases.
Some forms of electronic banking are:
* System Electronic Funds Transfer (EFT)
* Automated Teller Machine (ATM)
* debit
* credit card
* Online Banking
* Core Banking Solution (CBS).
The benefits of E-banking
E-Banking :
-You do not have to wait in line.
-No bank hours you plan your day.
-You can look at your balance as long as you want, not just when you get a statement.
- Internet banking allows you to watch your money, if you want every day.
- you never know what happened, your bank account.
- It is also helpful to watch you collect the amount of interest savings and investments, or what kind of service fee.
- View balances: Checking your balance doesnt require much work. You simply select Account balances and take a look at
your balance and past transactions. If you have more than one account, you can also do transfers between accounts.
- Pay bills: To pay your bills online, you just need to add to your account the names of the companies you wish to pay bills
to. In the Pay Bills section, select Add payees, search for the name of the company and fill in the account number for each
company. You can also sign up for the E-bills service that sends you a bill by e-mail instead of a printed one by regular mail.
- you can Transfer funds: When you select Transfer Funds, youll be asked where to transfer the money to and from, when,
and the amount
- Set up recurring bill payments or transfers: If you make a regular payment every month, it might be convenient to set up
an automatic withdrawal from your account.
There are some hidden benefits. As a young bank customers, you have just started to learn how to manage your money, watch
your consumption patterns.

SWIFT
SWIFT is the acronym of Society for Worldwide Interbank Financial Telecommunication (SWIFT)

SWIFT History
* Increase in International trade and commerce after World War-II
* Efficient Banking System for payment mechanism with Security, Reliability and Confidentiality was needed.
* Computer and Telecommunication technology came to rescue.
* SWIFT is a Co-operative organization
* SWIFT is the industry-owned co-operative
* SWIFT established in 1973
* SWIFT head quarters at Brussels, Belgium
* SWIFT is common language for international financial transactions
* SWIFT is Secure, Standardized messaging services
* SWIFT Provides interface software

SWIFT MESSAGES BLOCKS
1 Header:
Contains control information
Addressee, processing, priority and security.
2 Text :
Contains the substance of the message.
format and structure varies according to the MT
3 Trailer
For control purposes, CHK Trailer, PDE Trailer
Category Details
1 Customer payments and cheques
2 Financial institution transfers
3 Treasury Markets-FX, Money Markets and Derivatives
4 Collection and cash letters
5 Securities Markets
6 Treasury Market- Precious Metals/ Syndications
7 Documentary Credits and Guarantees
8 Travelers Cheques
9 Cash Managements and Customers Status

The Message MT 734
This message is sent by the issuing bank to the bank from which it has received documents related to a documentary credit.
It may also be sent by the bank nominated to pay/accept/negotiate/incur a deferred payment undertaking to the bank from
which it has received documents.
It is used to advise the Receiver that the Sender considers the documents, as they appear on their face, not to be in accordance
with the terms and conditions of the credit and that, consequently, it refuses them for the discrepancies stated. The Sender also
states that it is holding the documents at the disposal of, or returning them to the Receiver.
SWIFT Message MT 740
This message is sent by the issuing bank to the reimbursing bank.
It is used to request the Receiver to honour claims for reimbursement of payment(s) or negotiation(s) under a documentary
credit.

The MT 740 authorises the reimbursing bank to debit the account of the Sender, or one of the Senders branches if so
indicated, for reimbursements effected in accordance with the instructions in the MT 740.

SWIFT Message MT 754 Advice of Payment/Acceptance/Negotiation
This message is sent by the paying, accepting or negotiating bank, or the bank incurring a deferred payment undertaking,to
the issuing bank. It may also be sent by the bank to which documents have been presented to a bank that has been nominated
to pay/accept.
It is used to advise the Receiver that documents were presented in accordance with the credit terms and are being forwarded
as instructed.

SWIFT Message MT 756 Advice of Reimbursement or Payment
This message is sent by the issuing bank to the bank from which it has received documents or by the reimbursing bank to the
bank from which it has received a reimbursement claim
It is used to advise the Receiver about reimbursement or payment, to that bank, for a drawing under a documentary credit for
which no specific reimbursement instructions or payment provisions were provided.











ATM

ATM is the acronym of automatic teller machine (ATM),which is also known as an automated banking machine (ABM) in
Canada, is a computerized telecommunications device that provides the clients of a bank or financial institution with right of
entry to financial transactions in a public space without any a cashier, human clerk or bank teller. ATMs are known by various
other names as well as ATM machine, automated banking machine, and various regional variants derived from trademarks on
ATM systems held by particular banks.
Most modern ATMs, the customer is recognized by inserting a plastic ATM card with a magnetic stripe or a plastic smart card
with a chip, that contains a distinctive card number and some safety information such as an expiration date. Validation is
provided by the customer entering a personal identification number (PIN). By using an ATM, customers or cardholder can
enter their bank accounts in order to make cash withdrawals, debit card cash advances, and check their account balances.
How To Use ATM

Step 01
To enter the ATM card to entry point of the machine.
Step 02
To enter the personal Identification Number (PIN).
Step 03
To press enter the keyboard of the ATM.
Step 04
The transaction screen provided by the ATM and select the transaction as per your requirement.
Step 05
If you want to withdrawal cash from the ATM. Please select withdrawals and press enter withdrawals key.
Step 06
How much amount you want to withdrawals, please mentioned and press enter key.
Step 07
ATM provided the mentioned amount of currency, please take it and count it instantly.
Step 08
ATM return your card to entry point of the machine.
Step 09
Your ATM card will come out with a mini statement. Please preserved it if required.
ATM Benefits

ATM cash machine can use 24 hours a day and 365days a year
Hassle free transaction can made by the card holder
Revenue earn on each transaction by the organization or institution
Self driven banking tools
Reduce the amount of uses of cheques
Enhance sales Most secured
Convenient service for customers
To meet up the urgent needs of the customers
Possibly reduce merchant card service fees
Any time it can be used
It is open public set up so card holder/customers used friendly
Any time Cash withdrawals
Any time Cash deposits
Anytime Balance enquiry or checking the balance in the bank account
Anytime bills payment
Change of personal identification number (PIN)
Request of cheque book
Funds transfer from one account to another account

Online Banking
Online Banking is a system allowing individuals to perform banking activities at home, through the internet or Web
banking. Online banking is also known as Internet banking or Web banking.

A few online banks are conventional banks which also offer online banking, where as others are online only and have no
physical presence. Online banking through conventional banks allow customers to perform all routine transactions, such as
account transfers, balance inquiries, bill payments, and stop-payment requests, and some even offer online loan and credit
card applications. Account information can be accessed anytime, day or night, and can be done from anywhere, any time as the
wishes of the cutomers. A small number of online banks update information in real-time, where as others do it daily. Once
information has been entered, it doesnt need to be re-entered for similar subsequent checks, and future payments can be
scheduled to occur automatically. Most of them are allow for file transfer between their program and popular accounting
software packages, to simplify record keeping. In spite of the advantages, there are a few drawbacks. It does take some time to
set up and get used to online accounts. As well, a few banks only offer online banking in a limited area. In addition, when an
account holder pays online, he/she may have to put in a check request as much as two weeks before the payment is due, but the
bank may withdraw the money from the account the day that request is received, meaning the person has lost up to two weeks
of interest on that payment.
Investopedia says
Online banks cannot provide direct ATM access, but they make provisions for consumers to use ATM at other banks and retail
stores, and they may reimburse consumers for any connected fees. Because of the reduced overhead costs connected with not
having physical branches, online banks tend to offer consumers significant savings and pay higher interest rates. Online banks
handle customer service tasks by phone, email or online chat.
Investorglossary.com explains
online banking is a service offered by banks that allows account holders to access their account data via the Internet. In order
to take advantage of online banking, an account holder would need to meet several technological requirements, such as having
a personal computer with Internet access and web browser. If those conditions are satisfied, online banking can be performed
from anywhere in the world. To minimize the risk of fraud, online banking is enabled through a secure server, which grants
the individual a private access to his or her bank account. Online banking is designed to streamline banking chores that
otherwise require considerable time and effort. Thus, online banking facilitates direct access to account details, enables transfer
of funds, allows for multiple bills payments, and performs an array other transactions. Online banking is available twenty four
hours, seven days a week, regardless of the banks working hours. Today, most banks offer online banking services.
Common features online Banking
1. A bank customer can perform some non-transactional tasks through online banking, including
viewing account balances
viewing recent transactions
viewing images of paid cheques
downloading bank statements, for example in PDF format
ordering cheque books
Downloading applications for M-banking, E-banking etc.
2. Bank customers can transact banking tasks through online banking, including :
- Funds transfers between the customers linked accounts
- Paying third parties, including bill payments (see, e.g., BPAY) and telegraphic/wire transfers
- Investment purchase or sale
- Loan applications and transactions, such as repayments of enrollments
3. Financial institution administration
4. Management of multiple users having varying levels of authority
5. Transaction approval process
6. Transfer funds from one account to another or make deposits
How It Works
The majority banks propose customers the option of online banking. Customers are able to access to all of their accounts
through an internet connection using the banks own website or a commercial software package such as Quicken or Money.
Online banking allows customers to monitor account, download transaction, transfer funds between accounts, including
checking, saving, and money market/CD accounts, management investments, and handle loan activity, including applications
and repayments services. The clients can transfer funds to their bank accounts, and pay bills either electronically (with an
account transfer) or by having the bank issue paper checks directly to the payee.
Banks use security systems to ensure that transactions conducted online are protected from internet security threats. Most
banks use an industry-standard Secure Transaction software and protocol to deal with the security on their systems.
Benefits of online banking
Here are some of the advantages of mobile banking:
Consumers can get alerted about various situations, such as if their account is low.
Consumers have a greater handle on their money since they only need a mobile connection
to access their accounts. No
Internet service is required.
Despite its perception, mobile banking is secure, perhaps even more so than online banking.
Malware is less likely to threaten mobile bank customers due to the sheer abundance of
platforms.
Consumers have an added layer of protection against identity fraud: The more you monitor
your account, the safer you are and mobile banking lets you do just that.
Mobile banking is free. Banks currently arent charging fees for mobile services.
Through certain banks and applications, you can monitor your spending through a virtual
wallet and make payments.
There are fewer surprises, as customers can check their balances and transactions anytime.
Youre protected even if you lose your mobile device. Personal information is password-
protected and secured by other identity confirmations. Additionally, you can disable your
phone remotely.
Benefits of Online Banking
by Debbie Dragon
1. Convenience By banking online, you can carry out your banking activities whenever you want. Online banking is a
24 hour service, so you are no longer tied to the branchs hours. On top of that, you dont have to take the time to travel to the
branch and wait in the inevitable lines, thus giving you more time to do what you want.
2. Mobility Online banking can be done from anywhere, as long as you have an Internet connection. Even if you are
away for business or a vacation, you can still take care of your banking needs. Some banks, such as Bank of America, have
even created mobile applications that make banking easier for those with a Smartphone like the Apple iPhone or iTouch or a
Blackberry. With this added mobility, youll no longer have to worry about missing a payment or any other time sensitive
banking activity.
3. No Fees Because an online bank doesnt have to worry about funding an actual bank location with all of those
additional costs, fees can be reduced and are often non-existent. Those checking and savings accounts that are offered by
completely online banks usually have no fees at all. Depending on the type of account you currently have, you could be saving
anything from $60 a year and up.
4. Higher Interest Rates Again, due to a lack of costs associated with running an online bank, higher interest rates are
often offered for their accounts. For higher interest rates, you would usually need to bank with a completely online account.
5. Online Statements Most online banks try to be as paper-free as possible. Most statements and correspondence is done
online, reducing the amount of paper used and sent out to you. This again will help reduce the costs of the online bank. As an
added bonus, this makes online banking a great environmental choice. Be warned, some banks do charge if you do want a
paper copy of something.
6. Direct Deposit With any incoming money, such as your salary, you can arrange for it to be directly deposited into
your bank account by the company sending the money. This is actually a double benefit, as you dont have to take the time to
deposit the check, plus the money goes into your account faster allowing you to earn interest that much quicker.
7. Automatic Bill Paying With automatic bill paying, you can automate paying your monthly bills. Of course, you need
to set this up, but it will be worth it in the long run. First, with your bills being paid automatically, you shouldnt ever miss a
payment. Plus, by not having to worry about the time taken to mail in your payment, you can keep your money in your account
for a bit longer, earning you a little bit more interest and you save on postage too. Finally, you can actually do away with
using checks and you also save on paper used, making this a much greener way of banking also.
8. Real Time Account Information Because you can access your accounts anytime, you can get up to date, real time
information on the money in your accounts. This will allow you to better manage your money and gain the most from different
accounts, interest rates and services provided by the bank.
9. Transfers Transfers between accounts with the same financial institution online can be done almost instantaneously.
Not only is there no hold on the money being moved around, you can do it whenever you like and from wherever. You also
save time on travelling to the local branch. Even transferring to other financial institutions is easier, and safer as you dont have
to carry the money around with you. You can even now e-mail money to and from other people with INTERAC e-mail money
transfers.