Internet banking has paved the way to allow customers to conduct financial transactions on a secure website operated by their retail or bank, credit union or building society. The number of banks offering the ability to perform banking tasks online has also increased. It s believed to appeal to customers because it is more convenient than visiting bank branches. It allows the customers to monitor at their convenience all of their accounts in one place without disrupting work.

Some of the features of online banking are transacting an account to account transfer, paying bills and wire transfer. Electronic bill presentment and payment (EBPP), Funds transfer between a customer’s own checking and savings accounts, or to another customer’s account. Loan applications such as repayments are conducted here as well.

Several counter measures which we should be aware of and try avoid login intrusion. Using a single password authentication either by pin or signature can help protect you from fraud. Digital certificates are used against phishing which is a process of attempting to acquire sensitive information. And pharming which is redirecting website traffic to another, the use of class-3 card readers is a measure to avoid manipulation of transactions by the software in signature based online banking variants. Protect systems against Trojan horses and should use virus scanners and be careful with downloaded software or e-mail attachments.