Online banking, also known as Internet banking, electronic banking or virtual banking, is an electronic payment system that allows customers of a bank or another financial institution to carry out a range of financial transactions through the financial institution's website. Online banking generally connects to or is part of the core banking system operated by a bank, unlike branch banking which was the traditional way for customers to access banking services. Say no to plagiarism. Get a Tailored Essay on “Why Violent Video Games Should Not Be Banned”?Get an Original EssayTo access online banking services from a financial institution, a customer with Internet access will need to register with the institution for the Service and create a password and other credentials for customer verification. Credentials for online banking are generally not the same as for telephone or mobile banking. Financial institutions now regularly assign numbers to their customers, whether or not they have expressed their intention to access their online banking service. Customer numbers are normally not the same as account numbers, as multiple customer accounts can be linked to a single customer number. Technically, the customer number can be linked to any account with the financial institution that the customer controls, through the financial institution. may limit the range of accounts accessible, for example, checking, savings, loan, credit card and other similar accounts. The customer visits the financial institution's secure website and accesses online banking using the customer number and previously configured credentials. The types of financial transactions a customer can make through online banking are determined by the financial institution, but generally include obtaining account balances, a list of recent transactions, electronic bill payments and transfers of funds between the accounts of one client or another. Keep in mind: This is just a sample.Get a customized document from our expert writers now.Get a custom essayMost banks also allow a customer to upload copies of bank statements, which can be printed at the customer's premises (some banks charge a fee for sending paper copies of bank statements). Some banks also allow customers to upload transactions directly into the customer's accounting software. The facility can also allow the customer to order a checkbook, statements, report lost credit cards, stop payment of a check, advise a change of address and other routine actions. Today, many banks are Internet-only institutions. These “virtual banks” have lower overheads than their physical counterparts. In the United States, many online banks are insured by the Federal Deposit Insurance Corporation (FDIC) and can offer the same level of protection of their customers' funds as traditional banks..