Electronic fund transfer is assuming more importance in the banking industry due to the inherent advantage. Transfer of fund was mainly done through demand drafts under the conventional system, which is time-consuming to get accounted and a costly affair as well. Presently, the web based transfer of fund facilitate instant transfer of fund. This method is employed to get the funds transferred form one account to another account within a bank branches. That apart, it is also used to effectively transfer between banks through a common gate way. It has become handy and cost effective and time saving.

Internet banking is being encouraged by almost all the banks as a value addition to their service. Elite customers also seek such facility to save time and energy in the banking transaction. The facility to view the accounts and to transact the account also is offered. Instant transfer of fund from any corner of the world is enabled through internet banking which makes the operation on real time basis.