State Bank of India with its over 200 years of service to the nation embodies safety, trust and integrity. We have always woven these values into our relationship with customers. Internet banking is one more effort to add value to the relationship. Internet banking facility offers convenience of extended hours banking to its customers. In terms of the Code of Fair Banking Practice, we notify you on the characteristics of Internet Banking.
What is the Disclosure about?
The debate about how secure the Internet is, has not settled down. We would therefore say that the Internet banking channel comes with risks inherent to the Internet arena. Smart users world over have found ways to manage these risks. Banks worldwide have moved their customers to the Internet with enormous gains in efficiency and service quality. It is the customer who gains. This is exactly what we want for our customers. To come back to the question of risks, good practice suggests that the users should evaluate risks, appreciate and balance the criticalities and the convenience which Internet banking offers. SBI has put in place secure and effective systems to mitigate the risks from the bank's end. We seek a little effort from your side, in maintaining this as a safe and secure channel. We want our customers to appreciate the risks realistically and mitigate them at their end. This includes proper handling of Username and passwords and the overall safety of the system at the user end.
SBI's Internet banking channel is protected by advanced security features, both physical and logical. SBI has considered various risks inherent in transacting over a public network such as the Internet, and has deployed appropriate security measures to protect customers. Firewalls allow only valid web traffic to reach our server. Proven 256-bit Secure Socket Layer (SSL) encryption technology is deployed to ensure that the information exchanged between your computer and https://www.onlinesbi.com over the Internet is secure and cannot be intruded upon. 'VeriSign' certifies that information exchanged during a valid session is protected during its transmission over the Internet. Additionally, the bank has installed mechanisms such as Intrusion Detection Systems.
Availability of Internet Banking Service
Onlinesbi is an alternative channel for our customers and provides most of the services available at branches. Financial services such as fund transfers, third party payments, bill payments, opening bank accounts, closure of loan account, loan part payments, PPF transactions and issue of demand draft can be done through this service. Non-financial services such as viewing account information, request for cheque book, creating standing instructions and the like are enabled through this channel.
We have set up the following operational and control measures for Onlinesbi customers:
For certain categories of transactions, second factor of authorization, such as a One Time Password, is required.
To enhance the security in conducting banking and other transactions, it is recommended that customers adopt the following practices. These are not special to SBI site; banks world over expect their customers to do this much in mutual interest.
Periodically check your account statements. Any error in account statements should be reported to the bank immediately.