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Electronic banking is the delivery of information products and services between a customer and an association using electronic access devices such as telephones, automated teller machines, and personal computers. Typically, the devices are connected through a telecommunication line or the Internet.
Such products and services can include deposit-taking, lending, account management, the provision of financial advice, electronic bill payment, and the provision of other electronic payment products and services such as electronic money.
Two fundamental aspects of electronic banking are the nature of the delivery channels through which activities are pursued, and the means for customers to gain access to those channels. Common delivery channels include "closed" and "open" networks. "Closed networks" restrict access to participants (financial institutions, consumers, merchants, and third party service providers) bound by agreements on the terms of membership. "Open networks" have no such membership requirements.