Various Electronic Banking Products and Services

Development of computer and electronic products paved the way for innovative electronic products in banking business. Bangladesh has also progressed in electronic products in banking business. Bangladesh has also progressed in electronic banking facility is available for 24 hours. We shall now be familiar with various electronic banking products:

1) Debit Card and Credit Card

2) ATM

3) Mobile Banking

4) SMS Banking

5) Internet Banking

6) Any Branch Banking/Online Banking

7) Call Centre

1) Debit Card and Credit Card

This is a kind of plastic card which a bank issues for its clients. Through this card, a client can purchase without any cash and withdraw mone through ATM machine whenever needed. Debit card is used if the client has money in his/her account. The main difference between a debit card and a bank card is that a client can purchase with his/her debit only if there is money in his/her account, but he/she can buy products on credit even if he/she does not have money in the bank account. Credit card is a form of personal loan which the client has to pay with interest after a certain period of time. In this case, there is no obligation to have a bank account of the client.

2) ATM

ATM (Automated Teller Machine) is an electronic device through which a client can make some primary transactions such as withdrawing money, balance information, deposit cash or cheques without any help or presence of bank employees. This is a kind of plastic card which a bank issues for its clients. A client can, therefore, withdraw money by using this machine beyond 10 AM to 5 PM office hours.

3) Phone Banking

This is a kind of banking service by which clients can make their banking transactions using phone. In this case, the service is provided after verification fo the client's identity.

4) SMS Banking

Providing various types of banking services such as account balance information, request for cheque book, etc. through SMS is called SMS banking.

5) Internet Banking

Now-a-days client can transact his account through internet by using a website and a password. Client can check his statement of account and can pay bill by internet service.

6) Any Branch Banking

A client with account in one branch of the bank can make transaction from any other branch of the country by availing this service. For example, a client after opening his account at brach in Dhanmondi, Dhaka can make transaction in any branch located in Chattogram.

7) Call Center

Staying home, client can take the opportunity to collect account related information through a phone call. He can also send any complaint related with account.

What are the types of Electronic banking?

The major types of E-banking are online internet banking, mobile banking, automated teller machine (ATM), and debit and credit cards.

What are the various e-banking service?

Online or internet banking, mobile banking, and other modes of online fund transfers like NEFT, RTGS, and IMPS all under Electronic Banking.

Written by
Md. Saifur Rahman
Formar Principal 
South Point School and College, Dinajpur.
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