Banking Technology

The term ‘Internet Banking in Nepal’ can be defined as net banking or ebanking in Nepal. Net banking is a system of banking in which customer can view their accounts details, pay bills and transfer money by means of internet. Bank have focused on the ebanking, internet banking, electronic banking, phone banking, mobile banking, ATMs banking in context to Nepal country. 

E-Banking/ Online Banking-  Online banking, also known as internet banking, e-banking or virtual banking, is an electronic payment system that enables customers of a bank or other financial institution to conduct a range of financial transactions through the financial institution's website. The online banking system will typically connect to or be part of the core banking system operated by a bank and is in contrast to branch banking which was the traditional way customers accessed banking services.    

Mobile Banking- Mobile banking is a service provided by a bank or other financial institution that allows its customers to conduct a range of financial transactions remotely using a mobile device such as a mobile phone or tablet, and using software, usually called an app, provided by the financial institution for the purpose. Mobile banking is usually available on a 24-hour basis. Some financial institutions have restrictions on which accounts may be accessed through mobile banking, as well as a limit on the amount that can be transacted.   

ATM Banking- A cash machine, also known as an automated teller machine (ATM) automated banking machine (ABM ) cashpoint, cashline, minibank, bankomat or colloquially hole in the wall (British English) is an electronic telecommunications device that enables the customers of a financial institution to perform financial transactions, particularly cash withdrawal, without the need for a human cashier, clerk or bank teller. 

Using a cash machine, customers can access their bank deposit or credit accounts in order to make a variety of transactions such as cash withdrawals, check balances, or credit mobile phones. If the currency being withdrawn from the cash machine is different from that in which the bank account is denominated the money will be converted at an official exchange rate. Thus, cash machines often provide the best possible exchange rates for foreign travellers, and are widely used for this purpose.