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A
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Online banking basics
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Electronic
banking
is the general term given to the possibility of performing banking
transactions through electronic communications, mainly the Internet.
That’s why many people prefer to use the terns online banking or Internet
banking. 
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B
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Online
banking services
What do you
use online banking for?
‘I
pay bills online. I’ve got a list in my computer with all my payment
recipients’ names and account details. When I have to pay, I select the
amount and the name of the payee. I can also schedule the payments, or fix
the date for payments. The bank will transfer the funds, or send the money,
to the selected account.’ 
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C
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Most online banks have
introduced the concept of two-factor authentication, the simultaneous use
of at least two different devices or layers of security to prevent fraud.
When you open an Internet
account, you are given a confidential PIN, personal identification number,
and a password and username. 
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EXERCISES
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28.1
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Find expressions in A opposite which have the following meanings.
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1.
Banks
that offer physical locations and online services.
2. The type of banking where
you can use mobile phone networks to perform transactions. 
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28.2
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Read B
opposite and choose the right alternative for these electronic banking transactions.
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1. send/ trade stock.
2.
pay/ save
bills.
3. check/ trade account balances. 
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28.3
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Complete this text with words
from C opposite.
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Most financial institutions
offering Internet-based products should use (1) ____________-_________
authentication to reduce the risks of account fraud and identity theft.
At present, most
authentication methodologies involve three basic factors: 
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