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GLOSSARY

Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
 
^
62% - Often

Online Banking


Synonyms:Internet banking, banking App, mobile banking
Acronyms &
abbreviations:
OLB
Filed Under: financial-banking
Tags: banking, computers
 

Definition of online banking (OLB)

online banking (OLB)
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:

  • chequing account   A bank account that allows quick access to the money in the account.
  • express account   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.
  • home banking   A way to access bank accounts by phone. Typically customers can transfer funds, pay bills and make account inquiries.
  • online banking report (OBR)
  • online bill payment   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.
  • pc banking   A service that allows a bank customer to obtain account information and perform certain bank transactions through a personal computer.
  • personal finance manager   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.
  • pre-authorized payments   A way to set up a monthly payment to be automatically paid from a bank account.
  • savings account   A financial account that pays interest with low risk.
  • secure socket layer (SSL)   A standard form of encryption used over the Internet for e-commerce and banking transactions.
      ➥  Seen as 'https' in a web address (URL).

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