Online Banking

Importance: 0.71

Is a company: no

Is a proper noun: no

Synonyms

  • Internet banking
  • banking App
  • mobile banking

Acronyms

  • OLB

Definition of Online Banking

  1. The access of banking information and accounts to complete transactions using a personal computer or terminal through a financial institution's web site on the Internet. Also known as Internet banking.

Related Terms and Acronyms

  • Secure Socket Layer (SSL) Acronym,
    • A standard form of encryption used over the Internet for e-commerce and banking transactions.
    Seen as 'https' in a web address (URL).
  • Commercial Online Banking (COB)Bank,
    • Online Bill Payment Bank,
      • A service offered by online banks, usually for a small monthly fee, that relieves consumers from having to write cheques and lick stamps to pay their monthly bills. Online bill payment systems allow people to enter the names of their creditors and the numbers of their utility accounts and pay virtually all routine bills.
    • Online Banking Report (OBR)Bank,
      • Electronic Commerce Bank,
        • The purchase or sale of products and services through an electronic system such as the Internet.
      • Chequing Account Bank,
        • A bank account that allows quick access to the money in the account.
      • Encryption Definition,
        • A method for ensuring the privacy and security of a consumer's personal finance information at a bank or financial institution Web site. Encryption is the process of scrambling data so that only the intended receiver can use it. To be effective, encryption needs to be used by both the sender and the receiver. Consumers should make sure it is being used when sending sensitive information. CanEquity uses a encrypted server for all of our online applications.
      • Savings Account Bank,
        • A financial account that pays interest with low risk.
      • Home Banking Bank,
        • A way to access bank accounts by phone. Typically customers can transfer funds, pay bills and make account inquiries.
      • Personal Finance Manager Bank,
        • Specialized computer programs that help customers carry out a variety of personal finance activities. These programs typically allow consumers to do much of their work off-line, then dial in to complete their bank transactions.
      • Express Account Bank,
        • A low-fee or no-free chequing account, limited to ATM, telephone, and online transactions. Express account customers are charged fees when using bank teller services.
      • Electronic Cash Bank,
        • Also known as e-cash. A system used to transfer cash over the Internet to pay for goods and service.
      • Client-based Banking Software Bank,
        • Customers use money management software and their own computers to access the bank using a modem and a phone line.
      • E-cheque Bank,
        • An electronic version of a paper cheque. The account holder writes an e-cheque using a computer or other type of electronic device and transmits the e-cheque to the payee electronically. Like paper cheques, e-cheques are signed by the payer and endorsed by the payee. Rather than handwritten or machine-stamped signatures, however, e-cheques are affixed with digital signatures, using a combination of smart cards and digital certificates. The payee deposits the e-cheque, receives credit, and the payee's bank clears the e-cheque to the paying bank. The paying bank validates the e-cheque and then charges the cheque writer's account.
      • Browser Definition,
        • A computer software program used for accessing and viewing Internet Web sites.
      • Corporate Banking Bank,
        • Banking services for large firms.
      • Bill Presentment Bank,
        • An online system that allows customers to receive and view the bill on a computer, and then pay the bill electronically. Users can pay their bills immediately and the money is transferred from the account.
      • Pre-authorized Payments Bank,
        • A way to set up a monthly payment to be automatically paid from a bank account.
      • PC Banking Bank,
        • A service that allows a bank customer to obtain account information and perform certain bank transactions through a personal computer.
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