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One must have an agreement in advance with the institution to make such transfers.
Financial sector has been quick to recognize this fact, and in Pakistan, most of the banking industry has moved away from the old ledger based system to computers and automation in order to modernize their operations.
Although foreign banks were pioneers of bringing this concept to South-Asia but they have yet to start latest Electronic Banking practices in Pakistan 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.
Opening hours or location of branches, unlike the traditional banks does not restrict such services.
Both existing banks and new groups are already moving into this potentially very important area.
Course Title: E-Commerce Course Code: 435 An assignment prepared as a part of BBA program by the students of 4th year 2nd Semester, under direct supervision of Mohammad Mizenur Rahman, Assistant Professor, Department of Business Administration, Shahjalal University of Science and Technology, Sylhet-3114.
Assignment on: A Comparative Study on E-banking: A Study on Web information of Agrani Bank Ltd. Submitted to: Mohammad Mizenur Rahman Assistant Professor Department of Business Administration Shahjalal University of Science and Technology Sylhet-3114 Submitted By: Name Registration No. Safwan Radi 2007731041 4th year 2nd Semester The security and authentication of modern banking are very much dependent on cryptography and its applications.Since on-line banking services can be accessed with equal ease almost anywhere in the developed world, this raises the possibility of banking networks operating without regard to national boundaries, with consequent regulatory problems.Banking on line, commonly called PC banking, electronic banking or Internet banking, has been around in one form or another for a decade or more.With the expansion of global Information and Communication Technology (ICT) infrastructure and the internet, e-banking is set to play a pivotal role in the national economic development of any country.But appropriate software, technology, infrastructure, skilled manpower, and cyber law are crucial for the implementation of e-banking in the country.Many banks affiliate leading software vendors such as Intuit or Microsoft to make their systems compatible.4) Pay-by-Phone Systems /Tele banking: Allows a customer to pay by telephone certain bills, or transfer funds between accounts, with instructions to the bank.E-banking takes just minutes to setup an on- line bill payment; and bills are paid directly from bank checking account.Disclaimer: This work has been submitted by a student.The software allows customers to connect to bank’s computers over a secure network.The customer essentially dials directly into the bank instead of through the Internet.