Modern banking means online banking these days. Online banking bridges the distance over electronic media from 1980 to the present. The word online became very popular in the late 80s, referring to the use of keyboard, terminal and monitor to access banking with a phone line.
Online banking offers clients secure access on the internet on their bank accounts. With online banking, you can access your account 24/7, review your balances and transactions on real-time, transfer funds and pay bills. With online banking, you can transfer funds from your transactional account to your savings account, make investment sale or purchase and even apply for a loan and repayments of enrolments.
Furthermore, you can view your recent transaction, download the bank statements such as in PDF format and look at images of paid checks. A unique feature of internet banking is a personal financial management support like importing data into a personal accounting software. Some online banking institutions support account aggregation to let customers and clients monitor all their accounts in one setting whether they are with their main bank or some other institutions. There are many benefits of banking online, especially for busy people who do not have time to go to a brick and mortar bank to do bank transactions.