Online Banking Services: Definition & Types


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question 1 of 3

Which of the following transactions happens in real time?

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1. What does NEFT stand for?

2. Himmat wants to make a NEFT between his business account and that of his vendor's business account. Which of the following scenarios will make it possible?

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About This Quiz & Worksheet

This quiz and worksheet assesses what you know about online banking. You'll review your understanding of the different types of services available and how to use them.

Quiz & Worksheet Goals

This quiz and worksheet addresses your knowledge of:

  • Transactions that happen in real time
  • What NEFT stands for
  • Requirements to make an NEFT between businesses
  • What banks have introduced that allows banking from a smartphone

Skills Practiced

  • Interpreting information - verify that you read and were able to correctly interpret which transactions happen in real time
  • Information recall - see if you can remember what NEFT stands for
  • Knowledge application - use what you know to answer a question about the best banking method of performing a real-time transfer of a large sum of money

Additional Learning

There is a full overview of this topic provided in the lesson, Online Banking Services: Definition & Types. This lesson shares more about:

  • Defining online banking
  • Transactions that can be done through a bank's website
  • What RTGS stands for
  • The length of time it takes for an NEFT to happen
  • Information needed for an NEFT