No, you don't have to look at the face of that surly clerk in the bank anymore. Just get ready for banking in cyberspace. Just log on and you can see right on your computer screen a snapshot of all your accounts - whether it is Saving Banks, Recurring Deposits, Cash Credit Overdraft or Deposits. It also displays account balance messages and warning in case your overdraft limit has been crossed. Apart from checking balances, you can also retrieve on the screen, transaction details based on cheque numbers, transaction amounts and the date of issue.
Banks will also entertain requests to issue chequebooks, which will then be sent by courier to your address. You can also issue 'stop payment' instructions if you so desire.....all on the net.
If your child is studying in another city, all you have to do is to transfer funds from your account to his/hers... all through the net.
Therefore, banks will be at your disposal 24 hours a day, from any part of the world, thanks to the internet.
Yet to come
Soon, banks are going to be selling other things on the net such as - personal loans, car loans and housing loans. All you have to do is log on to the site, fill up the necessary forms, find out your eligibility for the amount of loan that you can get and BINGO, the bank will send its representative to you for completing the documentation.
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