Electronic banking or e-banking, also known as virtual banking, uses electronic technology and computers in place of checks and other paper transactions. E-Banking is initiated through devices such as cards or codes that allow the user to access their account. Many financial institutions such as banks use ATM cards or debit cards and personal identification numbers (PINs) for this purpose. Some use other types of debit cards that require your signature or a scan. Virtual banking, which does not involve any physical movement, exists in the form of ATMs, telephone banking, home banking and Internet banking. A virtual bank is a bank that does not require any branch which involves the provision of fully automated banking services. E-banking is the name that indicates and encompasses the entire sphere of technological initiatives that have taken place in the banking sector. E-banking is a proprietary term that uses electronic channels through mobile phones, telephone, Internet, etc. for the provision of banking services and products. The concept and scope of e-banking is still in a transitional and progressive stage. It increases efficiency within an effective payment and accounting system, thereby enhancing and improving the pace of delivery of banking services substantially and considerably. It allows customers to electronically access banking services through different means, such as paying bills, transferring funds, viewing accounts or obtaining banking information and advice. E-banking also facilitates and fosters new relationships with customers, regulators, suppliers and banking partners with the tools of the digital age. For example, customers and banking relationships will become more personalized and effective, giving rise to new ways of transacting... middle of paper... new possibilities. Thanks to the absolute transparency of the market, customers (both business and retail) can more easily compare the services of different banks. The Internet has been around since the late 1960s, but for most of that time it has only been available to governments and scientific research purposes. By the mid-1990s, as web interfaces improved and improved, e-commerce became available to the public and developed, allowing companies to offer their products and services on the web. For example, if on the Internet customers are not satisfied with the products, services or prices offered by a particular bank, they can change banking partners much more easily than in the physical or real bank-customer relationship. From the perspective of banks, the use of the Internet has significantly reduced the physical costs of banking operations and transactions.