Online Banking: Is It For You?

You’ve heard the terms “online”, “offline”, and” LAN”. But what are they? And why are they relevant to your business? LAN stands for Local Area Network; the internet is typically referred to as the LAN. This article covers the latter – what is an online and offline web server, what you need to know about bandwidth and how to secure your network.


For ease of discussion, let’s assume we’re referring to the LAN. LAN stands for Local Area Network. In technical terms, it is a local area network of computers which are connected via a wire or other such connection. For example, your home network (containing your laptop, printer, scanner, etc.) is a LAN, just as your e-mail address (which could be a LAN or a WAN) would be a LAN, your video game system (which could be a LAN or a WAN) would be a LAN, and so on…

To simplify things for our purposes, we’ll use the term online when talking about websites that are hosted off-site (on another server.) That means you don’t have to use your browser to get to them. Instead, you visit the site, log in, and access the data stored on that server using another device, such as a web-based application’s interface or a software program. This is the definition of “online banking.”

Now let’s look at the difference between “online banking” and offline web banking. In the example above, a person can conduct two basic banking transactions: one to send a check to another person and one to get money from another person. With an online bank account, the user does not have to go through any form of security deposit, because he/she does not have to have an internet connection. He/she simply logs in, and makes any or all of the basic banking transactions that a normal bank would allow.

So, really, online banking transactions are much simpler than regular banking. They’re faster, and they don’t require you to use a third party software program or a hardware device to access your account information. You can log in, access your balance, check deposits, and even withdraw cash from your online bank account whenever you want, day or night. So, if you’re already logged on, you can perform all of those basic banking transactions right there on the internet by just accessing your online banking site. This is how internet banking works.

There is one more difference between online banking and regular online banking, though. With an Internet bank account, you are required to have a computer and a high-speed internet connection. In other words, if you don’t have either of these, you can’t perform basic banking transactions. Otherwise, you won’t be able to access your account. If you have a computer and a high-speed connection, however, you can perform all of your everyday financial activities right from your computer. So, if you are a person who like doing your financial activities online, and you have an Internet connection, then an online bank account might be a good option for you.