What is the difference between Online Banking & I-Net Banking?
Online banking is a form of transaction by which customers can send/receives money directly from one branch to another branch within the same bank (through branch counter).
Internet banking is the ability to perform electronic banking services via the I-net Portal, ATM & Bank application
What is the difference between IBFT & Online Transfer?
IBFT (Interbank Fund transfer) or Fund Transfer is commonly known as transfer of funds from AKBL account to an account in another bank. This electronic payment can be done via I-net banking, Mobile Application & ATMs. It is a charged service as per Schedule of Charges (SOC).
Online Transfer is a form of transaction which transfer fund directly from one branch to another branch within AKBL.
Two AKBL account holders located in different cities want to undertake or to conduct a business transaction via AKBL cheque. In this scenario the Account Holder – A can present deposit the cheque drawn in the name of Account Holder – B and the funds are transferred from Account A to B in real-time, without going for clearing.