The UAE banking sector is poised to register year-on-year deposit and asset growth of 13.6 per cent and 12.2 per cent, respectively, over 2015-17, underpinned by a strong macro picture, according to an article published in Khaleej Times in June 2015. With the advent of new technological innovations, banking is booming with opportunities.
Benefits of Internet Banking
Banking has fully absorbed and integrated technology offering services such as internet banking, mobile banking, e-statement and more. Internet banking comes with the advantage of 24X7 banking. Here are the various things you can avail under net banking.
1. View the account transactions for the last 6 months – This gives you a better idea of your money inflow and outflow, thereby giving you an opportunity to plan for the future months accordingly.
2. View Your Credit Card Transactions – You can customize and view credit card transactions for the last sixty days or for a particular month. This helps you point out overspending and lets you catch any financial leaks if any.
3. View loan account details – You can easily view information related to your loan account which may include outstanding loan amount, instalment amount, next instalment date and interest rates applicable.
4. View fixed deposit details – You can view details related to your fixed account such as principal amount, maturity date and interest on deposit.
5. View exchange rate – You can also view prevailing exchange rate on major currencies including Gulf, European, and Asian currencies.
6. Open a fixed deposit account – If you are a customer of a certain bank and have been using its internet banking services then you are eligible to open a fixed deposit account both in AED and USD.
7. Pay your credit card bills – Not only can you view your credit card transactions, but you can also view your dues and clear them online.
8. Transfer Funds – You can avail this service both to transfer funds to another account in the same bank or any other bank.
9. Pay your utility bills – You can also pay your utility bills through internet banking such as water, electricity, internet, landline phone and more.
10. Get your queries cleared – You can send message to the bank directly with your queries.
Apart from the above mentioned benefits you can avail, you can also apply for a credit card loan, credit card balance transfer, credit card personal payment transfer and also life insurance through net banking.