This facility operates in the same manner as telephone banking except you use the computer (internet) instead of the telephone to pay your utility bills (light, water and telephone) and transfer amounts from one account to another account at the same bank.
It is suited for people who have access to the internet. The programme is very user friendly and you can manage your accounts and pay your bills at your convenience and from the comfort of your home.
Benefits of Internet Banking:
- It is convenient because you can pay your bills on time and do not have to go to the utility company during business hours.
- It saves time as it eliminates waiting in line at the utility company.
- It is safer because you do not have to walk around with cash to pay your utility bills.
- It is cheaper since the transaction cost is less than the transportation cost to and from the utility company.