Dictionary of Computers - electronic banking

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System whereby a user can execute banking transactions via the Internet. Electronic banking has become popular in many countries around the world, providing bank customers with the ability to check personal and business bank and credit card account balances online, view and print a list of recent transactions, and pay bills instantly. Money can be transferred immediately (or at a future date) from a customer's account to a business partner or to another of the customer's own accounts. In addition, account transaction details can be downloaded to a PC into a financial software package (such as Intuit Quicken or Microsoft Money) or a spreadsheet. As well as Internet banking, some banks also provide access to accounts through interactive digital television or via mobile phones.

The first bank to offer online access in the UK was the Royal Bank of Scotland.

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