Net Banking- What are its Advantages, Disadvantages, Features and More

Getting all the banking facilities online is easy, quick and secure. With the introduction of digitalization, almost all banks offer the facility of net banking to let a customer perform all the banking services online. The online functionality eliminates the need to visit the bank physically, which otherwise requires a customer to visit the bank personally. Everything through net banking can be completed within minutes irrespective of time and place that the user is in.

This blog will explain everything about net banking, its features, advantages, services and more.

What is Net Banking?

Net banking is also called internet banking. It is an electronic system offered by banks to its customers, enabling them to access financial as well as non-financial banking services within minutes. The net banking system eliminates the need to visit the bank physically. Net banking makes it easy for customers to avail multiple banking services like money transfer, creating FD, RD, tracking the transactions, etc.

Internet banking or net banking can be used by any customer who has an active bank account with the bank. A customer is required to register himself/herself to use net banking. Once registered, he/she can start using the banking facilities online.

What are the Features of Net Banking?

Following are the features of net banking that make this electronic system quite in trend-

  • Net banking provides easy access to all banking services
  • Customers can check their balance and transaction history easily at any point in time
  • It is easy to make bill payments and fund transfers
  • Net banking offers a secure platform to perform several banking transactions
  • Every customer has his/her unique banking ID and password
  • Customers can even apply for a loan or insurance through internet banking
  • Net banking offers the flexibility to upgrade debit/credit cards along with the ease to block the cards whenever required
  • Customers can update their primary and secondary addresses easily

What are the Advantages of Net Banking?

Listed below are the advantages of net banking that makes it an obvious choice to avail banking facilities online-

  • Net banking facility is available 24*7
  • It makes it easy for customers to make fund transfers easy
  • Net banking facilities offer convenience when it comes to transferring money or performing banking transactions
  • Customers can easily track their transaction history with just a click
  • Net banking is secure and protected with customer ID and password
  • It is easy to perform non-financial activities like ordering a cheque book, checking the account balance, passbook, etc

What are the Limitations of Net Banking?

The limitations of net banking are-

  • Net banking can be a little difficult to start for beginners
  • To avail banking facilities online, one needs to have an internet connection
  • Changing password is a constant process as one needs to keep changing the password every two months to secure the bank account from malicious hackers

How to Register for Net Banking?

In case a user does not have access to a net banking facility, following are the steps he/she can perform to get the net banking facility-

  • Visit your nearest bank’s branch and get the internet banking application form submitted along with the required documents like bank passbook, Aadhaar card, etc.
  • Upon submission and verification of the internet banking application form and documents, the banking official will issue the customer ID and password


  • Internet banking application form can be downloaded from the bank’s mobile application
  • The given credentials can be used to login into the internet banking facilities

How to Register for Net Banking Online?

Following are the steps to be followed to register for net banking online-

  • Open bank’s official net banking website
  • Click on the login button or click on ‘New user/Register here’
  • In case you have net banking credentials, enter them and proceed. In case you are not an active member, register yourself first
  • Fill the self-registration form along with other details like account number, registered mobile number, CIF number, debit card details and more
  • Next, submit the OTP which is sent to your registered mobile number to authenticate the process
  • Enter your temporary customer ID and password
  • Log in to create a stronger password

Bottom line

Net banking is a facility introduced by banks for their customers to use banking services online, eliminating the need to visit the bank personally. However, it is to be noted that net banking facilities can be accessed only through the internet only, thus, changing its security password routinely should be done to keep the bank account secure from hackers. Apart from that, it is advised not to share net banking credentials with anyone as it might lead to account hacking.

Can I change my net banking account password online?
Yes, you can change your net banking account password online under profile/account/ or related options.
How to get started with my net banking account?
Log in to the net banking website, enter the credentials and proceed with it to start using the banking facilities.
What are the things should I take care of while using net banking?
Users should keep a few things in mind while using net banking like avoid using public wi-fi, never share net banking credentials with anyone, always change passwords every two months, resist using public computers, etc.
Where can I get a net banking customer ID?
Banks provide net banking customer ID during the account opening process. In case of no customer ID, one can connect with the bank to raise a request for the same.
You May Also Like