Internet Banking as it should be

Q: What do you mean by internet banking?

Internet banking also known as online banking is a facility provided by financial institutions wherein a customer can make transactions using the internet. Internet banking enables you to make transactions without visiting a bank branch.

Q: What is internet banking and how it works?

Internet banking can be used on a mobile or computer and requires an active internet connection. It refers to accessing your bank account using a computer, smartphone, or tablet to conduct financial activities. You can complete things like paying bills and transferring money instantly and is generally free of cost or minimal fees.

Q: What are the three types of internet banking?

The three types of internet banking are: <ol> <li> Informational internet banking (Basic level) where the user is looking for information such as types of accounts & services offered, loan offerings etc. This information is available on bank websites and apps. </li> <li> Interactive internet banking (intermediate level) In this type of internet banking, users can make simple requests such as balance enquiry, FD & RD open/close requests, credit card applications etc. Users can also get solutions from virtual or bank representatives via the online chat option. </li> <li> Transactional internet banking (advanced level) This is the most advanced level of internet banking where a user can make all types of payment-related transactions such as investing in various schemes & mutual funds, paying off loans etc. Transactional banking requires an active online bank account & password and more technical knowledge of how to make payments using methods such as NEFT, RTGS & UPI amongst others. </li>

Q: What are the benefits of internet banking?

There are many benefits of internet banking that include: <ul> <li>Hassle-free banking at your convenience</li> <li>24/7 services such as fund transfers</li> <li>Online utility bill payments</li> <li>Lower bank charges & fees</li> <li>Online booking of chequebooks & passbooks</li> </ul>

Q: What is the difference between internet banking and mobile banking?

There are two major differences between internet banking and mobile banking: These are: services offered and convenience. Mobile banking offers limited services such as balance enquiry, sms banking etc without using an internet connection. So any user with a basic phone can also avail of mobile banking services. Internet banking, on the other hand, provides many services such as account information, EMI conversion etc which can be accessed via the internet through a laptop, or phone.

Q: What is the importance of internet banking?

Internet banking allows customers to access their bank accounts and conduct financial transactions through a secure website or mobile application. This eliminates the need to physically visit a bank branch, saving time and increasing convenience. Internet banking also enables customers to manage their accounts, pay bills, transfer money, and view account statements online. Additionally, it allows customers to monitor their account activity and detect fraudulent activity more easily. Overall, internet banking offers many benefits and has become a crucial part of modern banking.

Q: What is the difference between HDFC internet banking & RazorpayX internet banking?

The major difference between HDFC internet banking & RazorpayX internet banking is in the use of technology. RazorpayX has built a full-stack financial ecosystem with all the necessary integrations required by businesses. It offers advanced maker-checker while the HDFC internet banking maker-checker is more complex. Additionally, RazorpayX offers more seamless and customer-friendly interface thart comes with smart insights about your finances.

Enjoy hassle-free net banking solutions built especially for

startups

Internet Banking with a difference

Traditional internet banking cannot keep up with fast-paced businesses like yours

Experience the future

of corporate netbanking

Money movement simplified

Spend, approve, and track payments at your convenience

Business insights & analytics

A dashboard with built-in search & filters or a simple bank statement? We'll let you choose

Bill payments

Pending bills, what's that? Schedule & clear all your payments on the go

Unmatched User Experience

Make test transactions to get the whole experience of the dashboard before spending a penny

EXPLORE RAZORPAYX

The RazorpayX Advantage

Why settle for the old, when you can experience the new

In addition to standard banking features like a chequebook, unlimited deposits and withdrawals, transaction statements etc, RazorpayX adds more value to your internet banking experience

A Current account that supercharges your business

India’s best current account comes with built-in features that cater to all your business needs & more

Corporate Credit Card that rewards you for every business expense

Avail 20x higher credit limit to ensure you never run out of capital for business expenses

Create bulk payouts for customers in seconds without bank details

Keep your customers happy by processing super-fast refunds through payout links

Fix all your payroll problems in 3 clicks

Approve & disburse salaries on time without any manual data entry

All the Integrations you love combined on one beautiful dashboard

Enjoy all the popular integrations like Tally, Zoho, Shopify etc on a secure dashboard

You imagined it. We built it. Come experience it.

upgrade your business banking

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Need more information on Internet Banking for businesses?

We‘re always ready to help. Learn how business banking adds value to your startup with these blogs

Online Banking:
All You Need to Know

Online banking refers to using bank services with the help of internet connection. Learn how to setup your online bank account & services offered in this blog.

GST: Working, Rates & Types

GST was introduced to do away with indirect taxes that hiked up the final price of the goods or services. Read this blog for all the information on how GST works.

Business Bank Account Checklist

A business bank account is a specialised current account that helps account holders separate business transactions from personal finances. Read on to know more.

“

RazorpayX was of great help in bringing FDI into our Indian account

They ensured that the transfer was smooth, KYC, FIRC for FCGPR were on point and conversion done on priority. I recommend startups to use it for all their forex needs!

Srinivas Sarkar

CEO & Co-Founder,

Coupl

“

RazorpayX helps us make decisions on the go

With RazorpayX we could on-board hundreds of beneficiaries in an instant, rather than waiting for 2-3 days & have complete visibility. It helps us make payments & be on top of things on the go.

Nishant Chandra

Co-founder,

Newton School

“

RazorpayX has helped us manage our growth

Everything from direct access to managers for uploading invoices, easy approvals, on-time employee salaries, to automatic compliances has been nothing short of a boon for us

Tarun Bhambra

Co-founder,

Orange Health

“

RazorpayX helps me manage finances, faster and better

My daily meetings with the finance team have reduced from 45 mins to 15 mins enabling me to focus more on what I love - growing my business

Abhishek Jain

Co-founder, The White Willow

READ FULL CASESTUDY

“

Managing vendor invoices is now effortless

The best part is we receive all invoices directly on the dashboard, and they are ready with details pre-filled. It takes just a few clicks to stay on top of our vendor payments.

Chetan Mahajan

Founder and CEO, The Mavericks India

“

RazorpayX is a lifesaver

My whole world runs on Razorpay. Be it receiving payments, or making vendor payments, or running my payroll. If this company didn't exist I would have to struggle to make these pieces come together.

Ankur Warikoo

Entrepreneur & founder,

Nearbuy

“

Truly best in class

With RazorpayX, we have automated our entire payouts and refunds process. The product is extremely user-friendly and intuitive, integration was super easy and support has been awesome.

Varun Krishnakumar

Head of Products, Furlenco

READ FULL CASESTUDY

“

Managing vendor invoices is now effortless

Earlier, we had to do manual mapping and data entry for purchase invoices. And faced many bank statement issues, leading to a lot of hassle, Now I just simply forward the invoice via email, and we can find them conveniently in Tally. Moreover, we have become a paperless office. Earlier, a runner printed out all the invoices for manual entry and mapping, which is completely solved with your VP + accounting sync.

Chethan Kumar

Managing Partner, S2 Homes India, KSV Infratech

“

Managing vendor invoices is now effortless

I've used the Zoho Books integration to capture the transaction details on RPX on to Zoho Books. I found the integration to be seamless. The integration also made our workflows very simple and efficient leading to less internal follow ups between business and admin teams.

Ravi Avasarala

CEO, Strl Biosystems Pvt. Ltd.

“

Managing vendor invoices is now effortless

The RazorpayX-Zohobooks integration helped us to keep things one-click and reduced the time spent on bookkeeping drastically. One of the most useful integrations we've used!