Question

What does internet banking mean?

(a) Net practice
(b) Banking from the internet, meeting of banks on the internet
(c) Meeting of banks on the internet
(d) Banking from the internet

Answer 1

Internet banking refers to the banking services that allow customers to conduct financial transactions over the Internet. It provides various convenient services like transferring funds and paying bills, which can be accessed from anywhere at any time. The right choice being 'Banking from the internet (option d).'

Step-by-step explanation:

Internet banking, also known as online banking, e-banking, or virtual banking, is a service provided by banks that allows customers to conduct financial transactions remotely using the Internet. It includes services such as checking account balances, transferring funds, paying bills, and managing investments. Internet banking typically requires a user to have a secure Internet connection and login credentials provided by their bank.

Advantages of internet banking include convenience and accessibility, as it enables users to perform banking tasks from any location and at any time. It eliminates the need for physical visits to a bank, allowing transactions to be completed faster and more efficiently. Moreover, internet banking platforms often feature enhanced security measures to protect user data and financial information.

The correct answer to the question 'What does internet banking mean?' is (d) Banking from the internet.