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THE CONCEPT OF NETBANKING
The internet revolution is changing the way we communicate and
interact with the world around us. The medium of the net has opened
up new vistas in commerce and banking and monetary transactions
are done at the speed of light. E-commerce is the mantra of the
young, urban, upwardly mobile professional, who makes things happen
at the click of a mouse. Nowadays, it's common to transact and do
business on the net by using one's credit card.
 Ever
wondered what happens when you punch in your credit card number
on an internet website? Your credit card number travels to the site
where somebody at the back-end receives the number, then punches
it into an EDC terminal for approval from VISA and MasterCard. Because
of the manual intervention, there is a risk of fraud, as the credit
card number could be misused. Anybody who has access to your credit
card number could order goods on any other site and you end up paying
for it. Furthermore, the manual procedure makes the system slow
in terms of the response time authorisation.
HDFC bank launches India's first secure, online,
real-time Internet Payment Gateway
The concept of Virtual Banking or Internet banking was introduced
in 1994. Now, HDFC Bank, for the first time in India, has made the
e-shopping experience secure, on-line and real time with the launch
of its payment gateway in May 2000. This will allow any Visa/Master
Credit Card holder anywhere in the world to make payments for global
services over the Internet. If you enter your credit card number
on this gateway, not only does the credit card number travel in
a secure mode to the site but also all the way to Visa and back
to the site instantly, automatically, without the credit card number
being visible to the shopping site or anybody else.
NET BANKING
HDFC has launched Depository Services on the Net, by which
retail banking customers having a depository account with them can
now view their accounts through Net Banking. To avail this facility
the customer will have to submit a form for getting his accounts
registered to his customer ID. This service will be extended for
all the accounts where the Net Banking customer is the first / sole
account holder in the Depository. The facilities that the investor
can avail of through the net for depository services would include
the following :
- Holdings as on the close of the last business
day.
- Transactions for the last seven days.
- Demat status of the shares submitted for
demat in the last one month.
- Account holders profile.
- ISIN search to know the ISIN for a particular
company.
- CC Calendar to know the various settlement
details on various exchanges.
Netbanking customers can transfer funds from any of their accounts
to any Third Party account anywhere in the Bank. Transfers will
be effected on an ONLINE and REALTIME basis. No more hassles of
issuing outstation cheques / demand drafts, etc., to other account
holders of the Bank. HDFC Bank's BillPay facility allows you to
pay your utility & cellular phone bills on the net from anywhere
in the world, anytime. Log in to the HDFC Bank website, select the
bill payment option & the company for which you have to pay
the bill. Enter in the bill amount you have to pay & confirm.
Your account will be automatically debited & payment made to
the respective billing company the next working day.
HDFC Bank offers a new concept called Mobile Banking in association
with Orange in Mumbai and Essar and AirTel in Delhi. A revolutionary
new service, it enables you to access your HDFC Bank account from
your cellular phone. This service works on the SMS message (Text
Message) function available on the mobile phone and is supported
by their NetBanking infrastructure. You can conduct the following
transactions using your mobile phone:
Balance
Enquiry |
Last
3
transactions |
Account Statement
Request |
| Cheque Book Request |
Stop Cheque
Request |
Set Operative
Account |
| FD Inquiry |
Cheque Status
|
Bill Pay
|
|
 All
transactions, barring the balance enquiry, are conducted on your
operative account, which is the account you select. The balance
enquiry transaction operates on all accounts linked to your customer
ID. Customers in Mumbai are offered Mobile Commerce for the first
time in India. If you are a resident of Mumbai, you can access your
HDFC Bank account and conduct financial transactions on your mobile
phone screen. To use Mobile Commerce, open a Savings Account and
register for the Mobile Commerce and BillPay services. This facility
offers to pay your electricity and mobile phone bills, enquire about
pending bills of companies that you have registered under the BillPay
facility, check the balance in the fixed deposits linked to your
customer ID, etc.
For any further clarifications, please get in touch with the local
depository service providing branch or drop a mail at : dphelp@hdfcbank.com
or visit their site :
www.hdfcbank.com
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