CHAPTER 1 INTRODUCTION OF PROJECT
E-BANKING Internet Banking System is a system that has been developed in order to help clients with the daily day-to-day transactions. Internet banking systems means that clients can now do banking at the leisure of their homes. Also known as online banking, the system allows both transactional and non-transactional features. Online banking or internet banking allows customers to conduct financial transactions on a secure website operated by the retail or virtual bank
DEFINATION The use of computers to carry out banking transactions such as withdrawals through cash dispensers or transfer of funds at point of sale
MEANING OF E-BANKING 1
Electronic banking is an umbrella term for the process by which a customer may perform banking transactions electronically without visiting a brick-and-mortar institution. The following terms all refer to one form or another of electronic banking: personal computer (PC) banking, Internet banking, virtual banking, online banking, home banking, remote electronic banking, and phone banking. PC banking and Internet or online banking is the most frequently used designations. It should be noted, however, that the terms used to describe the various types of electronic banking are often used interchangeably.
E-banking nowadays is the common trend here in our country. No more falling in line in banks, no more waiting tons of hours in the bank, no more days and weeks of waiting. All can be done with one card, one gadget. It’s easy, it works, and most importantly, people like it. But still, some people are having a hard time using this kind of technology mostly people who are used to do things the old traditional way. With the use of advertising, people are now motivated to use E-banking because again, it eliminates the hassle encountered when using the old process of banking. The advancement of electronic banking or commonly known as e-banking, began with the use of automatic teller machines (ATMs) and has included telephone banking, Direct bill payment, electronic fund transfer, online 2
banking and other electronic transactions. For many people, they believe that the e-banking will go to the direction of mobile banking. Also, some people believe that online banking will be the most popular method in the future. In order for users/customers to use their banks online services, they need to introcomputers will be their assistant who will assist them in their transactions and services. Examples of those transactions are paying bills, attaining information about accounts and loans, and etc. In addition, those transactions offered by different banks are continuously changing and are being improved because of some banks wants to attain competitive advantage with other banks. The banking industry should always adapt to the new technology today and basically make the necessary adjustments to gain competitive advantage with other competing banks. Electronic banking is sometimes defined as the provision of retail and small value banking products and services through electronic channels either through mobile devices, Automated Teller Machines, or even the internet. It is also often used to describe processes in which customers can perform banking transactions without visiting a physical institution e-banking made an auspicious debut when automated teller machines (ATMs) were introduced it revolutionizing how we viewed the usual, brick-and-mortar bank structure. Today, ATMs have become a common customer delivery channel that is mainly in urban centers and sometimes even in the countryside. Aside from ATMs, other innovations have taken place such as phone and internet banking which again provide customers the ability to access banking services from various locations and at a 24-hour by 7- days basis. With these developments, customers are able to enjoy the many conveniences and lower costs that are offered by the said 3
innovations. However, it can be seen that the poor and low-income segment is still underserved or do not fully enjoy the benefits of such innovations. For example, ATMs have a nationwide presence but there is a concentration in urban areas, which are not easily accessible to those residing in the countryside. In addition, ATMs would require that you have a bank issued ATM card. The banks that typically issue ATM cards are the larger banks with which poor and low income individuals do not transact. The smaller banks like rural banks do not yet have the vast ATM networks as the bigger banks. Another example is internet banking services, which has significantly increased convenience for clients, as they are able to perform certain transactions without leaving their home or workplace. However, this service is available only to those who have internet connection or are, at the very least, computer literate. In the same manner as ATM services, the poor and low-income clients will not be able to fully enjoy the benefits of this service.
ADVANTAGES OF ONLINE BANKING 4
Very convenient. Online banking is a totally easy thing to do. In the comfort of your home or offices, you can do whatever monetary transactions you wish to do with your bank. Unlimited service day and night. The services and various features of your bank are always available seven days a week and 24 hours daily. The most interesting thing here is that, everything can happen at just one click of your mouse. No time constraint. Online banking is also stress free because it never closes unlike the traditional banking that has cut-off time. Easy to access via PC. Using your personal computer, you can easily do various transactions with your bank in view of your business or any other personal or financial matters. Smart. Online banking is also ubiquitous or simply put smart. This enables you to do troubleshooting regarding any problem that may arise from your business. Higher interest rate. Another great advantage of online banking is the interest rates which basically range between 5% to 3.40% annually. Unlike the traditional banking, online banking can earn you a better interest or return of investment both in your savings and checking account. Easy transaction. Another advantage is the speed of every transaction. Online transactions, compared to ATM or traditional banking, works faster. Thus business matters could benefit so much from this speed feature. DISADVANTAGES OF ONLINE BANKING:-
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First is the slow processing from the moment you entered a financial transaction with your bank via the computer. Usually the bank will require you to submit certain documents like an identification card, signature and the like. Not only will the bank online require you to submit documents but also to provide special power of attorney in cases where you want to do transactions together with your spouse. A concrete example is when you want to manage all your wealth and resources together as a couple and you wish to view it online. Certain technical procedures regarding online banking may be taxing too and complicated. Another disadvantage is the so-called learning curve. This means, banking online especially in locating the sites may be complicated and hard to find. Another disadvantage is bank site changes. If this occurs, the bank will require you to re-enter all your information again and other related data. Finally is the trust aspect. Online banking should be entered very carefully if you wish to enjoy your financial life
BENEFITS OF E-BANKING For Banks: 6
Price: In the long run a bank can save on money by not paying for tellers or for managing branches. Plus, it's cheaper to make transactions over the Internet. Customer Base: The Internet allows banks to reach a whole new market- and a well off one too, because there are no geographic boundaries with the Internet. The Internet also provides a level playing field for small banks who want to add to their customer base. Efficiency: Banks can become more efficient than they already are by providing Internet access for their customers. The Internet provides the bank with an almost paper less system. Customer Service and Satisfaction: Banking on the Internet not only allows the customer to have a full range of services available to them but it also allows them some services not offered at any of the branches. The person does not have to go to a branch where that service may or may not be offer. A person can print of information, forms, and applications via the Internet and be able to search for information efficiently instead of waiting in line and asking a teller. With more better and faster options a bank will surely be able to create better customer relations and satisfaction. Image: A bank seems more state of the art to a customer if they offer Internet access. A person may not want to use Internet banking but having the service available gives a person the feeling that their bank is on the cutting image For Customers: 7
Bill Pay: Bill Pay is a service offered through Internet banking that allows the customer to set up bill payments to just about anyone. Customer can select the person or company whom he wants to make a payment and Bill Pay will withdraw the money from his account and send the payee a paper check or an electronic payment Other Important Facilities: E- Banking gives customer the control over nearly every aspect of managing his bank accounts. Besides the Customers can, Buy and Sell Securities, Check Stock Market Information, Check Currency Rates, Check Balances, See which checks are cleared, Transfer Money, View Transaction History and avoid going to an actual bank. The best benefit is that Internet banking is free. At many banks the customer doesn't have to maintain a required minimum balance. The second big benefit is better interest rates for the customer.
THESE UNIQUE E-BANKING CHARACTERISTICS INCLUDE: Speed of technological change, Changing customer expectations, Increased visibility of publicly accessible networks (e.g., the Internet), Less face-to-face interaction with financial institution customers, 8
Need to integrate e-banking with the institution’s legacy computer systems, Dependence on third parties for necessary technical expertise, Proliferation of threats and vulnerabilities in publicly accessible networks. E-bank is the electronic bank that provides the financial service for the individual client by means of Internet Banking Services through Internet: The Basic Level Service is the banks’ web sites which disseminate information on different products and services offered to customers and members of public in general. It may receive and reply to customer’s queries through e-mail In the next level are Simple Transactional Web sites which allows customers to submit their instructions, applications for different services, queries in their account balances, etc. but do not permit any fund-based transactions on their accounts The third level of Internet banking service are offered by Fully Transactional Web sites which allow the customers to operate on their accounts for transfer of funds, payment of different bills, subscribing to other products of the bank and to transact purchase and sale of securities, etc. The above forms of Internet banking service the customer or by new banks, who deliver banking service primarily through Internet or other electronic delivery channels as the value added services. Some of these banks are known as
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‘Virtual’ banks or ‘ Internet only’ banks and may not have physical presence in a country despite offering different banking services
Use of e-banking in India last 5 years.
90 80 70 60 50 use in %
40 30 20 10 0 2008
2009
2010
2011
2012
CHAPTER 2 CONTAIN BANK PROFILE
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The oldest joint stock bank of the country. Allahabad bank was founded on April 12 1865 by the group of Europeans at the Allahabad. At that juncture industry, trade and banking stared taking shape in India. Allahabad Bank which began operations in 1865, has its head-quarters in Kolkata is the oldest joint stock bank in India. The bank was founded in Allahabad in 1865 and as of 31 March 2012 now has over 2500 branches throughout India. The bank has a branch in Hong Kong and a representative office in Shenzhen. Allahabad has adopted CBS (Core Banking Service) since 2006 and has developed 24 hours connectivity with its 2165 branches across the length and breath of the country. In 143 years of it existence the bank has come a long way by developing a wide grip over all the corners of India. At present the Allahabad Bank has 44 Zonal Offices 6 Staff Training Colleges and 3 Staff Training centers for imparting training centers in India.
OUR VISION AND MISSION Vision
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To put the Bank on a higher growth path by building a Strong Customer-base through Talent Management, induction of State-of-theart Technology and through Structural Re-organization. Mission To ensure anywhere and anytime banking for the customer with latest state-of-the-art technology and by developing effective customer centric relationship and to emerge as a world-class service provider through efficient utilization of Human Resources and product innovation.
CHAPTER 3 HISTORY OF ALLAHABAD BANK & E-BANKING _____________________________________________________ HISTORY OF ALLAHABAD BANK
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The Oldest Joint Stock Bank of the Country, Allahabad Bank was founded on April 24, 1865 by a group of Europeans at Allahabad. At that juncture Organized Industry, Trade and Banking started taking shape in India. Thus, the History of the Bank spread over three Centuries - Nineteenth, Twentieth and Twenty-First.
April 24 1865
The Bank was founded at the confluence city of Allahabad by a group of Europeans.
1920
The Bank became a part of P & O Banking Corporation's group
1923
The Head Office of the Bank shifted to Calcutta
1969
Nationalized along with 13 other banks
1989
United Industrial Bank Ltd. merged with Allahabad Bank.
1991
Instituted AllBank Finance Ltd., a wholly owned subsidiary for Merchant Banking.
2002
The Bank came out with Initial Public Offer (IPO),
2006
The Bank Transcended beyond the National Boundary, opening Representative Office at Shenzhen, China.
2007 February
The Bank opened its first overseas branch at Hong Kong.
2007 march Bank's business crossed Rs.1, 00,000 crores mark HISTORY OF E BANKING The term online became popular in the late '80s and referred to the use of a terminal, keyboard and TV (or monitor) to access the banking system using a phone line. ‘Home banking’ can also refer to the use of a numeric keypad to send tones down a phone line with instructions to the bank. Online 13
services started in New York in 1981 when four of the city’s major banks offered home banking services using the videotext system. Because of the commercial failure of videotext these banking services never became popular except in France where the use of videotext (Minitel) was subsidized by the telecom provider and the UK, where the Pestle system was used. The UK's first home online banking services known as Home link was set up by Bank of Scotland for customers of the Nottingham Building Society (NBS) in 1983. The system used was based on the UK's Pestle view link system and used a computer, such as the BBC Micro, or keyboard (Tan data Td1400) connected to the telephone system and television set. The system allowed on-line viewing of statements, bank transfers and bill payments. In order to make bank transfers and bill payments, a written instruction giving details of the intended recipient had to be sent to the NBS who set the details up on the Home link system. Typical recipients were gas, electricity and telephone companies and accounts with other banks. Details of payments to be made were input into the NBS system by the account holder via Pestle. A cheque was then sent by NBS to the payee and an advice giving details of the payment was sent to the account holder. BACS was later used to transfer the payment directly. Stanford Federal Credit Union was the first financial institution to offer online internet banking services to all of its members in October 1994. Today, many banks are internet only banks. Unlike their predecessors, these internet only banks do not maintain brick and mortar bank branches. Instead, they typically differentiate themselves by offering better interest rates and more extensive online banking features. 14
E-BANKING IN INDIA. The Reserve Bank of India constituted a working group on Internet Banking. The group divided the internet banking products in India into 3 types based on the levels of access granted. They are: 15
Information Only System: General purpose information like interest rates, branch location, bank products and their features, loan and deposit calculations are provided in the banks website. There exist facilities for downloading various types of application forms. The communication is normally done through e-mail. There is no interaction between the customer and bank's application system. No identification of the customer is done. Electronic Information Transfer System: The system provides customer-specific information in the form of account balances, transaction details, and statement of accounts. The information is still largely of the 'read only' format. Identification and authentication of the customer is through password. The information is fetched from the bank's application system either in batch mode or off-line. The application systems cannot directly access through the internet. Fully Electronic Transactional System: This system allows bi-directional capabilities. Transactions can be submitted by the customer for online update. This system requires high degree of security and control. In this environment, web server and application systems are linked over secure infrastructure.
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CHAPTER 4 E-BANKING IN ALLAHABAD BANK
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E-BANKING SERVICE PROVIDED BY ALLAHABAD BANK
online banking activity 120 100 80 60
usage in %
40 20 0
E-banking does offer many benefits for both banks and their customers. It is a media that is very helpful for financial transactions. Starting from the transfer money, pay various bills (electricity, telephone) E-banking refers to electronic banking. It is like e-business in banking industry. E-banking is also called as virtual banking or online banking. Ebanking is a result of the growing expectations of banks customers. E-banking involves information technology based banking. Under this I.T. system, the banking services are delivered by way of a computercontrolled system.
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Following e-banking services offered bt Allahabad bank 1. E-PAYMENT 2. NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT) 3. RTGS 4. EFT 5. ATM 6. CREDIT CARD 7. DEBIT CARD 8. E-TRADE 9. M-BANKING 10.INTERNET BANKING 11.TELEPHONE BANKING
1. E-PAYMENT :Introduction: An e-commerce
payment
system facilitates
the
acceptance
of electronic payment for online transactions. Also known as a sample of Electronic Data Interchange (EDI), e-commerce payment systems have become increasingly popular due to the widespread use of the internet-based shopping and banking. Over the years, credit cards have become one of the most common forms of payment for e-commerce transactions. In North America almost 90% of online B2C transactions were made with this payment type. Turban et al. goes on to explain that it would be difficult for an online retailer to 19
operate without supporting credit and debit cards due to their widespread use. Increased security measures include use of the card verification number (CVN) which detects fraud by comparing the verification number printed on the signature strip on the back of the card with the information on file with the cardholder's issuing bank. Also online merchants have to comply with stringent
rules
stipulated
by
the
credit
and
debit
card
issuers
(Visa and MasterCard) this means that merchants must have security protocol and procedures in place to ensure transactions are more secure. This can also include having a certificate from an authorized certification authority (CA)who provides PKI(Public-Key infrastructure) for securing credit and debit card transactions E-Payment facilitates payment of direct taxes online by taxpayers. To avail of this facility the taxpayer is required to have a net-banking account with any of the Authorized Banks. Electronic payment system - the system of non-cash transactions, placement of contracts and money transfers between sellers and purchasers, banks and their clients, with the help of means of electronic communications using information encoding and its automatic processing
E-payment service offered by Allahabad bank: Allahabad Bank provides the facility of payment for transactions executed on internet through different sites. Allahabad Bank will execute such
transactions
only
for
the
sites
specified
on
its
website
https://www.allbankonline.in and will be responsible for transferring the amount debited to the applicant’s account to the Account maintained by the
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Service Provider however it will not be held responsible for any information content on any other site. E-Payment of Taxes: Allahabad Bank provides the facility of payment of Direct and Indirect Taxes on internet through NSDL site. Allahabad Bank will execute the instructions for such transactions coming from the NSDL site and will be responsible for debiting the applicant’s/user’s account and arrange for depositing the tax and submitting the reports to the concerned Government Authorities as per the prevailing guidelines. Allahabad Bank may also provide the facility for e-Payment of other taxes like VAT etc. in future. Direct debit to the account will be allowed as per e-Payment instructions received through internet from the applicant/user subject to availability of sufficient balance in the account of e-Payment applicant/user. The applicant’s/user’s account will be debited for the instructions effected using the e-Payment facility and Bank will reject the instruction if sufficient balance is not available in the account. If the balance is insufficient, the Bank will not remit the fund to the concerned authorities, as applicable, through its branch and Allahabad bank shall not be held responsible or liable in any manner whatsoever. The applicant/user shall keep sufficient funds in its account to successfully meet the required transaction. The challan issued by such facility will hold good only after realization of fund from the account. The Challan Identification Number (CIN) will be allotted to the customers only after realization of fund from the account. Direct taxes
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Allahabad bank provides the facility to pay direct taxes through internet. Eligibility for E-payment of tax is you should be customer of our core banking solution branch. Registered with the banks corporate/retail internet banking enable with e-payment of direct tax facility and should have valid PAN/TAN allotted by the commissioner ate of income tax. Service tax Bank provides the facility to pay sales taxes- Maharashtra through internet. A customer who is having bank account can pay sales taxes Maharashtra through net banking at their convenience from anywhere any time. Excise and service tax Bank provides the facility to pay indirect taxes online as tax payers, customer need to have bank account with Allahabad bank, enabled for net banking facility with e payment in anyone of core banking branches.
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2. NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT) Introduction: Reserve Bank of India has introduced a system called ' National Electronic Funds Transfer System (NEFT)' through which funds transfer operation would take place among member Banks and financial institutions. Our bank is one of the participants in the above system. Presently over 2400 branches across the country are enabled to offer NEFT facilities to their customers. NEFT facility is also being provided to our all the Allahabad bank branches.
Objective: The objectives of the NEFT System are: To establish an Electronic Funds Transfer System to facilitate an efficient, Secure, economical, reliable and expeditious system of funds transfer and Clearing in the banking sector throughout India, and 23
To relieve the stress on the existing paper based funds transfer and clearing system.
Features & benefits Customers can remit any amount using NEFT Customer intending to remit money through NEFT has to furnish the following particulars: IFSC (Indian Financial System Code) of the beneficiary Bank/Branch Full account number of the beneficiary Name of the beneficiary. The facility is also available through online mode for all internet banking and mobile banking customers.
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3. RTGS
You can transfer money from your Allahabad Bank account to accounts in other banks using the RTGS/NEFT service. The RTGS system facilitates transfer of funds from accounts in one bank to another on a "real time" and on "gross settlement" basis. This system is the fastest possible interbank money transfer facility available through secure banking channels in India. RTGS transaction requests will be sent to RBI immediately during working hours post working hours requests are registered and sent to RBI on next working day. You can also schedule a transaction for a future date. You can transfer an amount of Rs.1 lac and above using RTG System. National Electronic Funds Transfer (NEFT) facilitates transfer of funds to the credit account with the other participating bank. RBI acts as the service provider
and
transfers
the
credit
to
the
other
bank's
account.
In order to transfer the funds to an account with other bank, kindly ensure 25
that the bank branch of the beneficiary is covered under the RGTS/NEFT payment system. It is recommended that you choose the Bank/ Branch from the drop down option provided under the link "Add Interbank beneficiary".
4. ELECTRONIC FUND TRANSFER (EFT) Electronic funds transfer (EFT) is the electronic exchange, transfer of money from one account to another, either within a single financial institution or across multiple institutions, through computer-based systems. The applicant/user accepts that they will be responsible for keying in the correct account number for the fund transfer request. In no case, Allahabad Bank will be held liable for any erroneous transactions incurred arising out of or relating to the User entering wrong account numbers. The applicant shall advise its Users including the Account Administrator that they shall not use or attempt to use Internet Banking/Phone Banking Services for funds transfer without sufficient funds in the accounts or without pre-existing arrangement with the Bank for grant of credit facility / overdraft facility. The Bank will Endeavour to affect such funds transfer transactions received through Internet Banking / Phone Banking Services provided there is sufficient funds available in the accounts and Confirmation of Beneficiary 26
Registration by the User. Allahabad Bank shall specify from time to time the limit for carrying out various kinds of funds transfer or any other services through Internet Banking & Phone Banking. The said facility will be provided as per conditions specified by Allahabad Bank from time to time. If funds transfer facility is made available to the user, it may be used for transfer of funds from user account to his other accounts or to third party accounts, maintained at Allahabad Bank or at any other Bank which falls under the network of Reserve Bank of India's Electronic Fund Transfer system/RTG. Allahabad Bank shall not be liable for any omission in making all or any of the payments or for late payments due to circumstances beyond its
reasonable
control
including
non-confirmation
of
Beneficiary
Registration. Allahabad Bank reserves the right to charge the Applicant for the use of funds transfer by giving due notice on the website about such charges. In case of accounts where loan/overdraft limits are sanctioned, the applicant undertakes that all debits made to such accounts through Internet Banking shall be as per the sanctioned terms and the applicant shall ensure that no conversion/diversion of funds take place through the loan accounts. Applicant can make transactions with maximum limits of Rs.2 lakhs per day. The funds transfer limit per day fixed for an applicant may vary from applicant to applicant depending on the conduct of their account assessed by the Bank. Bank may at its discretion change the limit from time to time and may notify the same.
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5.
ATM
(AUTOMATIC
TELLER
MACHINE)
Introduction An automatic teller machine (ATM) allows to customer to conduct their banking transaction from almost every other ATM in the world. ATMs are electronic machines, which are operated by a customer himself to deposit or to withdraw cash from bank. For use Allahabad bank ATM, an ATM card obtains by customer from bank. Allahabad bank ATM provides service round the clock. An automated teller machine or automatic teller machine(ATM) is an electronic computerized telecommunications device that allows a financial institution's customers to directly use a secure method of communication to access their bank accounts, order or make cash withdrawals (or cash advances using a credit card) and check their account balances without the need for a human bank teller. Many ATMs also allow people to deposit cash or cheques, transfer money between their bank accounts, top up their mobile phones' pre-paid accounts or even buy postage stamps. On most modern 28
ATMs, the customer identifies him or herself by inserting a plastic card with a magnetic stripe or a plastic smartcard with a chip that contains his or her account number. The customer then verifies their identity by entering a pass code, often referred to as a PIN (Personal Identification Number) of four or more digits. Upon successful entry of the PIN, the customer may perform a transaction. The growth of ATM’s has rapidly grown in the public places around the globe. ALLAHABAD BANK INTERNATIONAL DEBIT CUM ATM CARD Allahabad bank the oldest bank in India is offering ATM services to its customers in 110 cities & town spread all over the country. The ATM automatic teller machine offer the convenience of banking 24 hours a day, 7 days a week, 365 days a year. Our bank is also a member of VISA & NFS network thereby enabling our customer to access a wide network of ATM in India and abroad. With this card there is no need to carry cash in your wallet and you need not fear of overspending on your credit card you can now withdraw cash and make purchases anytime you wish to. ATM Safety Measures Confidentiality of PIN is utmost necessity. Neither writes your PIN anywhere nor discloses to anybody howsoever close he may be to you. Always memorize the PIN. Change your ATM PIN frequently. Stand close to the ATM machine while using ATM so that no one can peep at your PIN as you enter it. Taking help from strangers for using the ATM should be avoided. 29
Press the 'Cancel' key and take your card back before moving away from the ATM. Transaction slip should be destroyed if of no future use. Try avoiding using ATM which is situated in isolated location. On loss of ATM card, report immediately to branch as well as toll free phone number for blocking the same. The toll free phone number (1800220363) is available to each ATM site. In case ATM card get stuck in the ATM, contact the bank immediately. Be wary of anything about the ATM machine that looks out of the ordinary, such as odd looking equipments or wire attached to the device mainly near ATM card slot. One should check their Bank A/c regularly to make sure that there is no unusual/ unauthorized transaction. If you see anything unusual or suspicious around an ATM or if you find unauthorized ATM transaction on your Bank account, immediately contact your home branch/ local law enforcement agency. Update your current mobile phone number and E-Mail address with your Branch for getting SMS alert on Credit/Debit to your account and E-Mail alert for other communications.
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6. CREDIT CARD Introduction: Plastic money was a delicious gift to Indian market. Giving respite from carrying too much cash. Now several new features added to plastic money to make it more attractive. It works on formula purchase now repay later. There are different fact of plastic money credit card is synonyms of all. A credit card is a card or mechanism which enables cardholder to purchase goods, travel and dine in a hotel without making immediate payment. The holder can use the card to get credit from bank upto 45 days. The credit card relieves the customer from the botheration of carrying cash. The credit card enables the cardholders to: Purchase any item like clothes, jewelers, railway/air tickets, etc. Pay bills for dining in a restaurant or boarding and lodging in hotel Avail Of any service like car rental, etc Credit card is financial instrument, which can be used more than once to borrow money or buy products and services on credit. On the basis of their different kinds like classic, gold, silver. It is a normal card whereby a holder is able to purchase without having to pay cash immediately. Credit card offered by Allahabad bank: The Allahabad Bank offers International Credit Card. The minimum income eligibility for the Allahabad bank Credit Card for the public limited employees is sixty thousand for per annum. The minimum income eligibility for the Allahabad bank Credit Card for self employed is sixty 31
thousand per annum. The minimum income eligibility for the Allahabad bank Credit Card for the salaried is also sixty thousand per annum Fees and Charges the fee for joining for the Allahabad bank credit card is hundred rupees. The fee per annum for the Allahabad bank credit card is two fifty rupees. There is no fee for add on card, card replacement, photo card and for renewal. The transaction fee for cash advance is 2.5 percent on the transaction amount. InterestRate The interest rate for the Allahabad bank credit card is three percent per month. The maximum credit days are forty days. The effective interest rate per annum is forty two percent. The minimum payment per month is ten percent of the total outstanding amount. The interest rate for cash advance of the Allahabad bank credit card is 2.5 % per month. If your Allahabad bank Credit Card is lost then it should be report it as early as possible if not the liability charges of rupees thousand are collected. The Insurance covered for Allahabad bank credit card are air accident cover and general accident cover. No insurance are covered for add on card.
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KISAN CREDIT CARD This scheme is popularly known as Green Card scheme among the Farmers & provides hassle free loan to the Farmers on the cheapest rates of interest for their main activity i.e. Crop Production & also to meet out their personal & consumption needs to some extent. Nature: This account is cash credit in nature & farmers can make transactions in the account as per their convenience. Repayment: The aggregate credit in the account during the 12 month period should at least be equal to the maximum outstanding in the account and no drawal in the account shall remain outstanding for more than 12 months. Rate of interest: Interest only @7.00% p.a. is charged for the loan limits Who can be the credit card holder? The general criteria applied are a person’s spending capacity and not merely his income or wealth. The other criteria are the worthiness of the client and his average monthly balance. Most of the banks have clear out norms for giving credit card. A person who earns a salary of rs.60000/- per annum is eligible for a card. A reference from a banker and the employers of the applicant is insisted upon. Facilities offered to credit card holder 33
Making purchase / availing of services at any of the member establishment with 15-45 days credit period. Cash withdrawal at any of branches of the issuer/ member affiliate of the issuer to meet emergent requirements. Add-on facility for family members. The spouse or children are entitled to use card for making purchases. On behalf of add on member. Free credit period ranging from 15 – 45 days. ATM facility at selected networks is available in case of emergency. Wide range of insurance facilities is available which include personal accident insurance, cover for accidental death, purchase protection cover against risk of fire, strike, theft etc. Reward points are offered on every purchase through credit card by user. Benefits to credit card holder Credit card are simple to operate and easy to carry. The holders are relieved from the risk of carrying cash or cheque book with them. A card is a convenient method of payment for goods and services. the holder have the option to purchase goods and services and pay conveniently at a later date. Owing to revolving nature of credit, the customer can take advantage of it as and when he pleases within the overall limit. Cash can be obtained at any branch of the issuer. The ATM facility is extended to cardholder who need not stand in queues and spend time unnecessarily at banks. Overdraft facility is given to cardholders who are entitled to spend more than their actual limit. The purchasing power of cardholder increases to the extent of credit card. 34
RBI norms on credit cards. The RBI has issued strict norms on credit card which should be followed by all credit card issues w.e.f. November, 2005. The norms relate the following: In case any unsolicited card is issued and activated without the consent of the recipient and the latter is billed for the same, the issuing bank/ NBFC should pay a penalty amounting to twice the value of charges besides reversing the charge forthwith. The credit card holder may be allowed to surrender their card on account of any change in credit card charge to their disadvantage. The norms also stipulate that credit card issuers should not issue wrong bills to customer. In case a customer protests any bill, the bank should provide explanation and if necessary, documentary evidence to the customer concerned within a maximum period of 60 days with a spirit of amicably redressing the grievances. The bank should not levy and charge that was not explicit indicated to the credit card holder at the time of issue of the card without getting his consent. The late payment charge, including the method of calculation of such charge and the number of days should be prominently indicated. There should be no delay in dispatching bills to customers.
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7. DEBIT CARD Debit card may also allow for instant withdrawal of cash, acting as the ATM card for withdrawing cash and as a cheque guarantee card. A debit card also known as a bank card or check card is a plastic card that provide an alternative payment method to cash when making purchases. A debit card is issued on payment of a specified amount by the issuing company like a telephone company to a customer on cash payment or on debiting his account by a bank. Thus it is like an electronic purse, which can 36
be read and debited by the required amount. It may be noted that while through a credit card, the customer first makes a purchase or avails service and pays later on, but for getting the debit card, a customer has to first pay the due amount and then make a purchase or avail the service. For this reason, debit card are not as popular as credit cards. Advantages of Debit Card. A customer who is not credit worthy and may find difficult or impossible to obtain a credit card can more easily obtain a debit card, allowing him/ her to make plastic transactions Like credit card, debit cards are accepted by merchants with less identification and scrutiny than personal checks, thereby making transaction quicker and less intrusive. Unlike personal checks, merchants generally do not believe that a payment via a debit card may be later dishonored. For most transactions, a checks card can be used to avoid checks writing altogether. Check cards debit funds from the users account on the spot. Thereby finalizing the transaction at the time of purchase, and bypassing the requirement to pay a credit card bill at a later date. Unlike a credit card, which charge higher fees and interest rates when a cash advance is obtained, a debit card may be used to obtain cash from an ATM or a PIN- based transaction at no extra charge, other than a foreign ATM fee. Disadvantages of the debit card. Use of a debit card is not usually limited to the existing funds in the accounts to which it is linked.
37
Many banks are now charging over-limit fees or non-sufficient funds fees based upon pre-authorization, and even attempted but refused transactions by the merchant. Many merchants mistakenly believe that amounts owed can be taken from a customer’s account after a debit card number has been presented, without agreement as to date, payee name, amount and currency, thus causing penalty fees for overdrafts, over-the-limit, amounts not available causing further rejections or overdrafts, and rejected transactions by some banks. A thief who obtains or clones a debit card along with its PIN may be able to clean out the consumers bank account, and the customer will have no recourse credit transaction is equally easy as theft using a signature-based debit transaction.
8. E-TRADE At Allahabad bank, it is our constant endeavor to bring to you the exemplary products and services to serve you better. In today’s time, the equity market offers a range of trading and investment opportunities. To unlock these opportunities for our customers, we are proud to introduce a unique 3 in 1 account. With this 3 in 1 proposition saving/ current account and demat account offered by Allahabad bank will be linked with online trading Triple advantages of 3 in 1 account Allahabad bank integrates the above three accounts under one ‘Allahabad bank e-trade facility’ to have a seamless experience for customer 38
while they invest and transact in the stock markets. Given below are few of the ‘features & benefits’ customer can avail of. Features & benefits Trade on multiple platforms (Online, Mobile and Offline), all at one go! Simply log on to Allahabad bank website www.allahabadbank.in click in ‘AllBank e-Trade’. Enter user id and password and start the trading by lien marketing of funds in bank account for placing a buy order and allocating the securities marks in customers demat account will be removed after market hours. Customers can now have a full control over their funds and can also make use of the unutilized funds after the trading hours with ‘lien marking of funds’ facility. Customer can select the equity and number of shares he intends to sell and to that extent the shares get blocked in the demat account maintained with the bank with “DP Lien facility” Convenience of executing instant trade without the hassle of transferring funds from bank account to trading account and vice versa Smart and convenient ways to buy and sell shares through demat account, basket order, cover order etc. Quality research and advisory support from ‘aditya Birla money’ can help you take informed decision Call and trade facility at no additional cost to place orders anytime, anywhere. Access to the latest corporate news, technical analysis, research news. Generate/ view/ print account related reports and details High and multiple level of security ensure security of customer data and transactions at all times. 39
Competitive brokerage charges
9. MOBILE BANKING Introduction: Mobile bankingalso known as M-banking or SMS banking is a term used for performing
balance
checks,
account
transactions,
payment,
credit
applications and other banking transactions through a mobiledevice such as a mobile banking services were offered over SMS. With the introductionof the first primitive samrt phones with WAP support anabling the use of the mobile web in 1999, the first european banks stared to offer mobile banking on this platform to their customer. Mobile banking has until recently(2010) most often been performed via SMS ot the mobile web. Apples initial success with I phone and the rapid growth of phones based on googles androidhave led to increasing use of special client programs, called apps, downloaded to the mobile device.
40
According to this model mobile banking can be said to consist of three interrelated concepts: Mobile accounting Mobile brokerage Mobule financial information services.
Mobile banking offered by Allahabad bank: Service refers to services offered by Allahabad Bank to its customers on Mobile Phone which includes facilities such as enquiry about balance in the Account, details about transactions in the Account(s), request for statement of Account, enquiry of cheque and any other service as Allahabad Bank may decide to provide from time to time through SMS. The availability / nonavailability of a particular service shall be communicated to the user through email, web page of Allahabad Bank or in writing as may be deemed fit by Allahabad Bank. This facility may be provided by Allahabad Bank directly or through its associates or its service providers Mobile banking can offer services such as the followings:
Account information Mini-statements and checking of account history Monitoring of term deposits Access to loan statements Access to card statements. Mutual funds/ equity statements. Insurance policy management. Pension plan management 41
Status on cheque Stop payment on cheque Ordering cheque books. Balance checking in the accounts. Recent transaction. Due date of payment Blocking of card. PIN provision, change of PIN and reminder over the internet.
SMS Alerts on Mobile Phones: SMS Alerts will be sent on mobile number registered with Bank for any fund transfer to applicant’s own accounts, other accounts in Allahabad Bank and to other accounts outside Allahabad Bank as per the limits specified by the Bank from time to time. The SMS Alerts will also be sent for any on-line transaction done from accounts. These alerts will be sent to the mobile number specified by the applicant/user in the application form. However, Allahabad Bank does not hold the responsibility of these SMS alerts to be actually delivered to the mobile number or delivery at an odd hour because the SMS are sent through other service providers whose systems are not under control of the Bank though we have bound them through service agreements. Mobile Banking Safety Measures Always keep Application password, MPIN, TPIN and User ID confidential to yourself. Do not save these in mobile phone or write on paper. Regularly change Application password, MPIN and TPIN so that it becomes difficult to compromise. 42
Be careful while downloading applications through Bluetooth or as MMS attachments. They may contain some harmful software, which will affect the mobile phone. Do not allow any unknown person to have access to your handset/mobile phone or leave the same unattended while using Mobile Banking Services. If the mobile phone or SIM is lost, then immediately take action to deregister from mobile banking from home branch i.e. from where Mobile Banking facility has been availed. You should de-register for Mobile Banking application if you do not want not to avail the facility any more. Ensure that you receive SMS alerts for all debit/credit to your account. In case of not receiving the SMS alerts, please contact home branch. If the mobile handset is given for repair, ensure that no confidential data pertaining to mobile banking is left in the phone. Note the IMEI (International Mobile Equipment Identity) code of your cell phone and keep it in a safe place. This helps the owner to get stolen mobile blocked for further use through mobile operator. Chain and junk messages should be deleted regularly. In case of any problem you may write to
[email protected].
43
10. INTERNET BANKING Introduction: Internet banking does offer many benefits for both banks and their customers. So the banks are doing what they can to encourage customer to try it. Online banking allows customer to conduct financial transactions on a secure website operated by their retail or virtual bank, credit union or building society. It is a media that is very helpful for financial transactions. Starting from the transfer money, pay various bills (electricity, telephone) up to just us are checking our bank balance in to bank. EBanking refers to electronic banking. It is like e-business in banking industry. E-banking involves information technology based banking. Under this I.T. system the banking services are delivered by way of a computer-controlled system. This system does involve direct interface with the customers. Internet Banking offered by Allahabad bank. Internet Banking Service refers to one of the services offered by Allahabad Bank to its customers on internet through which customer can enquire about balance in the Account, details about transactions in the Account(s), download statement of Account, transfer of funds and other service as Allahabad Bank may decide to provide from time to time through internet. The availability / non-availability of a particular service shall be 44
communicated to the user through email, web page of Allahabad Bank or in writing as may be deemed fit by Allahabad Bank. Such Internet Banking may be provided by Allahabad Bank directly or through its associates or its service providers. For the purpose of availing Internet Banking, the Applicant would need to have legal and valid access to the Internet and Allahabad Bank's Internet Banking Service. The Applicant shall have the option of choosing the facilities out of various facilities provided by Allahabad Bank on Internet Banking. The Internet Banking Service is restricted to bank’s account holders only. The information provided to the applicant/user on Internet Banking is usually updated at regular intervals on Bank’s website however there can be some delay in its updating, Consequently, any information supplied to the applicant / user through Internet Banking will pertain to the date and time when it was last updated and not as the date and time when it is supplied to the applicant / user. Allahabad Bank shall not be liable for any loss that the applicant / user may suffer for delay in its updating or by relying on or acting on such information. Allahabad Bank may keep the records of the transactions in any form it wishes. In the event of any dispute, Allahabad Bank's records shall be binding as the conclusive evidence of the transactions carried out through Internet Banking. Any request for any service, which is offered as a part of Internet Banking, shall be binding on the applicant / user as and when Allahabad Bank receives such a request / provides services. If any request for a service is such that it cannot be given effect to unless it is followed up by requisite documentation on part of the User, Allahabad Bank shall not be required to act on the request until it receives such documentation from the applicant / user. In case of any request 45
for a service relating to any foreign currency transaction made by the applicant / user, the exchange rates quoted by Allahabad Bank shall only be provisional and shall be subject to future variations in the exchange rate. The rate at which the transaction is given effect to would be the effective rate for all intents and purposes. The Applicant / user shall ensure that Internet Banking or any related service is not used by them for any purpose which is illegal, improper or which is not authorized under these Terms. The Bank, may from time to time advise required browser settings that are required for using Internet Banking Services by the user. There will be no obligation on the part of the Bank to support all the versions of the Internet browsers available in the market. Internet banking safety measures Every Internet Banking user has been provided with User ID, Login Password and Transaction Password. These three items enable a user to login to Internet Banking and commit transactions like fund transfer. So, these should be very confidential to the customer/user and should never be disclosed to anybody even a person claiming from Allahabad Bank. It is customer/user responsibility not to disclose User ID, Login Password and Transaction Password. So, it is always better to keep password complex, a mix of alphanumeric & special character, so that it is difficult to guess by others. Always maintain different login and transaction passwords so that compromise of password becomes difficult. Change your Internet Banking passwords (Login as well as Transaction) regularly so that there is less chances of guessing of the same by others. 46
Never click a hyperlink in your email or any link on any website which directs you to login to Allahabad Bank’s Internet Banking website. Most of these links are fictitious which leads to fake website and aims to get User ID and Password of the customer so that unauthorized access is made to Internet Banking for siphoning-off money. Always type the address of the website in the address bar of the browser or access it from stored list of favorites. Do not access any website such as bank website through a link in an email or through another website. Always ensure before entering user ID and password that you have accessed https://www.allbankonline.in for Internet Banking service. The website can also be accessed through Internet Banking link in Allahabad
Bank’s
websites
www.allahbadbank.com
and
www.allahabadbank.in. Beware from phishing websites wherein pages looks same as in the bank’s original website but website addresses are different. Avoid accessing your Internet Banking account from a cyber cafe or a public computer as there is risk that some hidden applications (Spyware like Key loggers) installed on such computer may be capturing your user ID and passwords. Preferably use virtual keypad for entering password. Every time you login to Internet Banking, check the date and time of last login to ensure that it is you who logged-in that time. In case of any doubt of somebody else having access your account, first change the login & transaction
47
11.TELEPHONE BANKING Meaning
48
Telephone banking is a provided by a financial institution, which allows its customer to perform transaction over the telephone. Most telephone banking services use an automated phone answering system with phone keypad response or voice recognition capability. To guarantee security, the customer must first authenticate through a numeric or verbal password or through security question asked by live representative. With the obvious exception of cash withdrawals and deposits, it offers virtually all the feature of an automated teller machine: account balance information and list of latest transactions, electronic bill payment, fund transfer between customer’s accounts etc Usually customers can also speak to a live representative located in a call centre or a branch, although this features is not always guaranteed to be offered 24/7. In addition to the self-service transaction listed earlier, telephone banking representatives are usually trained to do what was traditionally available only at the branch: loan applications, investment purchases and redemptions, cheque book orders, debit card replacement, change of address etc. Banks which operate mostly or exclusively by telephone are known as phone banks. They also help modernize the user by using special technology. The bid advantages of telephone banking are- as we have already mentioned- the ability to speak to another human being and discuss with them any issue that may not be mentioned or catered for on the website. In addition to that speaking to a call centre staff member allows for the provision of information such as any payments that are waiting to go into
49
customer’s account or go out. This information is not provided on customer’s websites. Phone Banking (PB) Service refers to services offered by Allahabad Bank to its customers who include facilities such as enquiry about balance in the Account, details about transactions in the Account(s), request for statement of Account, enquiry of cheque and any other service as Allahabad Bank may decide to provide from time to time through telecommunication channel. The availability / nonavailability of a particular service shall be communicated to the user through email, web page of Allahabad Bank or in writing as may be deemed fit by Allahabad Bank. This facility may be provided by Allahabad Bank directly or through its associates or its service providers. Undertaking a host of banking related services including financial transactions from the convenience of customers chosen place anywhere across the GLOBE and any time of date and night has now been made possible by introducing on-line Telebanking services. By dialing the given Telebanking number through a landline or a mobile from anywhere, the customer gets the following facilities
Automatic balance voice out for the default account. Balance inquiry and transaction inquiry in all Inquiry of all term deposit account Statement of account by Fax, e-mail or ordinary mail. Cheque book request Stop payment which is on-line and instantaneous Transfer of funds with CBS which is automatic and instantaneous Utility Bill Payments Renewal of term deposit which is automatic and instantaneous 50
Voice out of last five transactions
PRIVACY POLICY 51
Allahabad Bank (AB) recognizes the importance of protecting the confidentiality and security of any personal information obtained from the visitors of Bank’s web site. Bank is strongly committed to safeguarding applicant’s/user’s privacy online and has established the following privacy policy that will apply to applicant/user, as a visitor of the site: Applicant/user is not required to provide any personal information on this website unless they choose to do so. By submitting applicant’s/user’s personal information and pressing the 'submit' button, applicant/user consent to the content of this Privacy Policy and accept the conditions set out herein; Allahabad Bank does not sell or rent personal information. Employees of the Bank will not discuss the business affairs of any client with any other employee, except on a strict need-to-know basis Allahabad Bank does not release client information, except upon a client's authorization or when permitted or required by law. Allahabad Bank will not sell applicant’s/users personal information to any third parties. Allahabad Bank will only share the information with such third parties if and to the extent required by law or for regulatory purposes. This site may contain links to other sites. Allahabad Bank does not control the information collection of sites that can be reached through links from this or any site controlled by Allahabad Bank. If applicant/user has questions about the data collection procedures or privacy policy of linked sites, please contact those sites directly. Allahabad Bank reserves the right to add, amend, revise, or suspend the privacy policy from time to time.
52
Communications through Electronic means: Documents sent by electronic delivery will contain all the information as it appears in the printed hard copy version as prepared and distributed by the originator, with the possible exception of graphic insertions such as photographs or logotypes. Electronic delivery may be in the form of an electronic mail, an attachment to the electronic mail, or in the form of an available download from the Website. Allahabad Bank would be deemed to have fulfilled its legal obligation to deliver to the applicant/user any document if such document is sent via electronic means. Failure to advise Allahabad Bank of any difficulty in opening a document so delivered within twenty-four (24) hours after delivery shall serve as an affirmation regarding the acceptance of the document. TERMINATION OF IB/SMSB/PB SERVICE: The applicant/user may request for termination of the IB/SMSB/PB services at any point of time by 'giving a written notice of at least 15 days to Allahabad Bank. The termination shall take effect on the completion of the fifteenth day. The applicant/user will remain responsible for any transactions/communication made through the IB/SMSB/PB services until the time of such termination. Allahabad Bank may withdraw or terminate the IB/SMSB/PB services anytime either entirely or its parts with reference to a specific service or user; or in case of breach of Terms by the applicant/user without a prior notice; or if it learns of the death, bankruptcy or lack of legal capacity of the user. On closure of all accounts of the applicant/user IB/SMSB/PB Service will be automatically terminated by the Bank. 53
CHAPTER 5 DATA ANALYSIS 54
1. User of e banking
user of e-banking yes no
Currently 65% bank customer aware of e-banking facility
2. Preference to online bill-payment service
online bill payment yes no
Majority of the customer are now opt online bill payment. The bank customer now using online bill payment
3. Preference for online fund transfer 55
online fund transfer yes no
Only few customers using online fund transfer.
4. Satisfied customer
satisfied customer yes no
CHAPTER 6 56
FINDINGS
1. In the users ratio of internet banking 80% of customer are using this service 2. The services that are mostly used by maximum customer are transaction, bill payment, shopping etc 3. The mode of transaction that a customer used more oftenly is through cash. Cheque, & e-banking 4. Customer is fully satisfied with e-banking service offered by Allahabad bank
CHAPTER 7 RECOMMENDATION & SUGGESTIONS
57
1. More stress should be given on security concern on internet There are some people who are into unethical practices of hacking of accounts of customers. This is nothing but the breach in the security of the SBI on internet. There should become measures in order to prevent such practices. IT structure should be unbreakable. 2. Update information on bank website Bank employee should update their bank website time to time. It help to customer or employees also to get latest information or event of bank . 3. Training & awareness among employees It is recommended that Allahabad bank should conduct various training programs for employees so that they will ger aware with the terms of ebanking
CHAPTER 8 CONCLUSION
58
Studying the project we came to know that internet banking provides greater reach to customers. Feedback can be obtained easily as internet is virtual in nature. Customer loyalty can be gain. Personal attention can be given by bank to customer also quality service can be served. It provides comfort to customers at the same time it provides cost cutting to Allahabad bank by eliminating physical documentation. Internet banking saves time of bank as well as those of customers. Bank should know that No system is perfect, however a system of such a type will need to be very secure. This is a system which holds account details and customers wealth. If such a system was not trusted and not reliable, then SBI would face serious laws and would lose business.
CHAPTER 9 BIBLIOGRAPHY
59
https://www.allbankonline.in/ https://www.allahabadbank.in/english/Internet_Banking.aspx en.wikipedia.org/wiki/Online_banking.in http://en.wikipedia.org/wiki/Online_banking www.dhingana.com/.../allahabad-bank-internet-
banking...allahabad-/226.com http://myiris.com/cards/scheme.php? ati=International&bran=India+Card&cat=CREDIT&fc=ALLBANK& typ=Master. https://www.allbankonline.in/.
CHAPTER 10 ANNEXURE
Questionnaire for customer 60
Personal details Name
:
Date of birth
: ____\ ____\ ____
Gender
: Male
Female
Level of education attained: High School PhD
Bachelor
Masters
Are you currently employed? Yes
No
_____________________________________________________________ 1. What were your reasons for choosing online banking? Convenient service
to save time
24 hr
2. How often do you use online banking? Daily
weekly
monthly
Never 3. How long have you been using the WWW? Less than 1 month months
1 to 6 months
7 to 12
More than 1 year 4. How frequently do you use telephone banking services per month (for example, balance Inquiry, fund transfer between accounts)? Never
1 to 4 times
5 to 8 times 61
9 to 12 times
over 12 times
5. How frequently do you visit your bank branch per month? Never
1 to 4 times
9 to 12 times
over 12 times
5 to 8 times
6. How frequently do you use an Automated Teller Machine (ATM) per month? Never
1 to 4 times
9 to 12 times
over 12 times
5 to 8 times
7. What is the main reason that you typically visit your bank branch (please choose the single most important reason)? Make a deposit Investment advice inquiry Cash withdrawal other
Balance
8. Have you purchased any product through WWW? Yes
No
9. Approximately how many times have you purchased any product through the Internet in the last 12 months? Never 9 to 12 times
1 to 4 times over 12 times
5 to 8 times
10.I am willing to provide credit card and purchase information through telephone. Strongly Agree Disagree
Agree
Neutral
Strongly Disagree 62
11.I am willing to provide credit card and purchase information through fax. Strongly Agree Disagree
Agree Neutral Strongly Disagree
12.I am willing to provide credit card and purchase information through WWW/e-mail. Strongly Agree Disagree
Agree Strongly Disagree
Neutral
13.I am willing to provide credit card and purchase information over the Internet when this information is encrypted. Strongly Agree Disagree
Agree Strongly Disagree
Neutral
14.I am willing to provide credit card information and personal information over the Internet to a Web vendor who is well known and reliable Strongly Agree Disagree
Agree Neutral Strongly Disagree
15.In the past five years, other than for geographical relocation, how many times have you switched to a different bank? Never Over 8 times
1 to 4 times
5 to 8 times
16.Do you have a bank account for which you interact with your bank mostly through a WWW browser? Yes
No
63
17.What banking services do you use which your Internet bank offers? (Please check all you Are currently using) Seeking product and rate information Calculate loan payment information Download loan applications Download personal bank transaction activity Check balances on-line Apply for consumer loans or credit cards online Inter-account transfers On-line bill payments
18. What is the percentage of your household monthly income you deposit to your Internet bank account? __________ %
Don’t Know
Not Applicable
19.What was the single most important reason that you chose this particular bank as your Internet bank? (please choose one) I have a traditional bank account with the same bank The brand name of the bank The excellent service offered by this bank
These questions were asked if the respondent answered "No" to having an Internet bank account. 64
20.What are the main reasons that you have not opened an Internet bank account yet? (check all that apply) Under age never heard of Internet banking Concerned about security Don't see any real value in having this type of account Too new. I would like to see how it works, and then I may open an account Not available through my bank Haven't taken time to open an account
Questionnaire for bank manager Name of Bank Manager - _________________________________ Email Id
- _________________________________
1. Which Of The Following E-Banking Products/Services Are Offered? I) ATM Facility? 65
Yes
No
- Number of ATM of the Bank: __________ - Number of Customers Using the ATM Facility: _________% - In Your Opinion, Are Customers Satisfied With ATM Transaction? Yes
No
Ii) Telephone Banking Yes
No
- How Many Branches Provides This Facility: ________% - How Many Customers Are Using This Facility? _________%
Iv) Internet Banking Yes
No
- How Many Branches Provides This Facility? ______ % - How Many Customers Are Using This Facility? : ______%
V) Mobile Banking Yes
No
- How Many Branches Provides This Facility? _______ % - How Many Customers Are Using This Facility? ________%
Vi) Video Conferencing Yes
No 66
11) How Many Customers Are Still Using Traditional Way Of Banking Transaction? A) 25%
B) Below 50%
D) 75%
E) Above 75%
C) 50% & Above
2. When did the bank web site become active? _______________________________________________________ 3. Where is the banks website hosted? In house Off site 4. Are any application forms available on the website? Yes
no
5. If applications are available on website, how does the customer submit them? Fax Online Mail
In-person
Other
6. Any types of lending or loan advances done over the internet? ________________________________________________________ ________________________________________________________ 7. What was your reasoning for offering internet banking and any other banking service? Profit Convenience 67
Retain customer
Competition
Customer request 8. Are you allowing customer to advertise on the banks web site? Yes
no
9. Are income and expense item, related to electronic banking, included in the annual budget? Yes
no
10.Is electronic banking training provided to other offices and employees of the bank? Yes
no
11.Does your institution have adequate staff with the necessary knowledge and skills to deal with the technical complexities of ebanking? Yes
no
12.That only authorized staff is allowed to update or change information on the web site? Yes no 13.What Are Some of the Newest Features of Internet Banking? ________________________________________________________ ________________________________________________________ 14.Transaction over Internet Banking is safe or not? Yes
no
15.What is a daily limit for e-banking payment? ________________________________________________________ 16.Is There a Cut-Off Time for Next Day Business? 68
Yes
no
17.If customer forgotten login and password then what do they do? ________________________________________________________ ________________________________________________________ 18.Are There Fees for Internet Banking and Bill Pay? Yes
no
19.Does Internet Banking Work with Microsoft? Yes
no
20.Does Internet Banking Have Online Help? Yes
no
21.Can customer Request a Credit Card Line Increase through Internet Banking? Yes
no
22.Can customer open a New Checking or Savings Account Online? Yes
no
69
