Cyberbanking is the process of using the Internet to perform banking functions. Instead of taking a trip to the bank, you can do it all online without even leaving the comfort of your home. It's faster and easier to do online banking. No waiting in long lines at the bank. I've always hated to stand in those long lines at the bank. Cyberbanking lets you pay your bills, check your account balance, transfer funds among accounts, and even lets you know if your checks have cleared.
Some people are skeptical of paying their bills or using their credit cards online for fear of hackers or security breach. Banks are trying to tighten the loop hole so no one can get your information. All financial information that you exchange with your bank, including account numbers and passwords, is encrypted before it goes out on a phone line or the Internet. Their browsers indicate that they are in secure, encrypted mode by displaying a lock icon.
Most banks will cover any losses you may encounter if someone hacks into your account.
Cyberbanking is becoming more and more popular among people today. It is convenient for most people that don't have transportation to get to the bank.
http://findarticles.com/p/articles/mi_qa5344/is_200709/ai_n21295173
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I use this type of banking every day. I never worry about security because it is nearly impossible for a hacker to obtain your information from a site that is locked down with SSL. The majority of the securiy breaches come from people stealing actual physical property from the banks.
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