In the present scenario technology is affecting the life of every individual both qualitatively and quantitatively. The quick expansion of information technology has imbibed into the lives of millions of people and introduced major changes in the worldwide economic and business atmosphere. In the present scenario online services have become an added feature in the banking sector. Online banking (Internet) banking allows customers to conduct financial transactions on a secure website. Credit goes to advanced technology that provided ultimate ease to the customers at their convenient place and time. Online banking allows people to perform all the banking related activities such as money transfer, past transactional information, cash withdrawals and deposits etc with a just one click of a mouse. Customers can easily check the account balance every day just by visiting the website of their bank. This provides the place and time utility to people provided if one has Internet access. Online banking also eliminates unnecessary waste, which an organization incurs in the form of office supplies. This facet has also helped in meeting the social concerns. However, using internet for money transaction is never been free from risk. More importantly, security is always been an issue of concern.