Bank is now not a mere organization for saving money but a device to explore and spread the digital communication in public sphere.


The term bank is derived from the French word Banco which means a Benchor Money exchange table. In olden days, European money lenders or money changers used to display (show) coins of different countries in big heaps (quantity) on benches or tables for the purpose of lending or exchanging. A bank is a financial institution which deals with deposits and advances and other related services. It receives money from those who want to save in the form of deposits and it lends money to those who need it. Oxford Dictionary defines a bank as “an establishment for custody of money, which it pays out on customer’s order.”

Characteristics of a bank:

 Bank is a financial institution which deals with other people’s money i.e. money given by depositors.

  • A bank may be a person, firm or a company. A banking company means a company which is in the business of banking.
  • A bank accepts money from the people in the form of deposits which are usually repayable on demand or after the expiry of a fixed period. It gives safety to the deposits of its customers. It also acts as a custodian of funds of its customers.
  • A bank lends out money in the form of loans to those who require it for different purposes.
  • A bank provides easy payment and withdrawal facility to its customers in the form of cheques and drafts; It also brings bank money in circulation. This money is in the form of cheques, drafts, etc.
  • A bank provides various banking facilities to its customers. They include general utility services and agency services.
  • A bank is a profit seeking institution having service oriented approach.
  • A bank acts as a connecting link between borrowers and lenders of money. Banks collect money from those who have surplus money and give the same to those who are in need of money.
  • Bank is an organization which keeps people’s valuable asset safe and do all kind of monetary exchanges.


“The modern banking system manufactures money out of nothing. The process is, perhaps, the most astounding piece of sleight of hand that was ever invented. Banks can in fact inflate, mint and un-mint the modern ledger-entry currency.” [2]

The total activities done by a bank is call banking. Day by day the meaning of this term goes broader and broader. In the era of globalization banking sector covers a vast area. Digital communication happens every moment through modern technology. It opens the doors of digital communication and online transactions.

Earlier Banking activities:

In the earlier period of time bank’s activities are very little. Banks were the place of saving and lending money. It was the mare organization for saving money securely. People come to the bank for preserve their money or lend money for business. No digitalization concept was there or other source of communication happens.

Digital Communication:

Digital communication is a modern concept. It means communicate through digital interface using modern technology. Communicate with a people without physical appearance. To communicate with the mass people it’s a very useful and fast way to send all form of necessary information and messages.

 Banking as a device to explore and spread the digital communication in public sphere:

The activities of bank are not limited by only saving money and giving loan. Now a bank does a lot of work for providing service in spreading digital communication.

E Business:

E business is now spread out in a very fast manner. People can run their business over internet and grab a big market. But to inter in the global world or E business world it’s mandatory to have a bank account. Banks give us the opportunity to inter into the global internet market through their digital communication system. We can communicate with customers all over the world by E business.

Credit card:

Any card that may be used repeatedly to borrow money or buy products and services on credit issued by banks, savings and loansretail stores, and other businesses.[3] Through credit card a person can communicate digitally with his bank. In the place of shopping money transaction goes digitally through automation. It also records different transaction for a certain period for better understand of past transaction history.

Age verification:

It’s also an important communicative criterion. To verify age it was very important to give a physical interview. But now a day Bank makes this procedure very easy for us. To verify age for any kind of online verification modern banking procedure digitally contact with them and communicate with proper information.

Mobile banking

Now a day’s mobile banking is very popular among those areas where bank branches are not that much nearby. People can do all the necessary banking procedure through their mobile with proper security. Checking account balance, money transfer etc. can be done through mobile banking. This mobile banking opens the door of individual communication from anywhere.

We know that as the mobile marketplace continues to expand, mobile banking is set to become a more popular option for Canadians. While online banking has and continues to be a convenient option, Canadians want easy access to their money at any time, wherever they are,”[4]

Dutch-Bangla Bank Limited (DBBL) has for the first time introduced its mobile banking service, expanding the banking service from cities to remote areas. Bangladesh Bank Governor Atiur Rahman inaugurated the service in July, 2011 by depositing Tk 2,000 and withdrawing Tk 1,500 through Banglalink and Citycell mobile networks in Motijheel area. Bangladesh Bank has already allowed 10 banks to initiate mobile banking. Of them DBBL kicked off first.

“Mobile banking is an alternative to the traditional banking through which banking service can be reached at the doorsteps of the deprived section of the society,” [5]

Atiur Rahman said through mobile banking various banking services including depositing and withdrawing money, payment of utility bills and reaching remittance to the recipient would be possible. By going to the DBBL-approved Citycell and Banglalink agents throughout the country, the subscribers can open an account provided they show the necessary papers and pay a fee of Tk 10. To use the banking service, subscribers must own a cell phone from any provider. The bank gives subscribers a four-digit PIN. By using the PIN, subscribers can use a number of banking services, including depositing and withdrawing money, while maintaining account security. Customers may hand over cash to agents in the bank’s network, and agents can coordinate the transaction from their mobile phones, helping account holders securely complete banking tasks using their PINs. Customers can deposit or withdraw money up to five times per day, up to Tk 5,000 per day. One percent of the transaction account or Tk 5, whichever is greater, will be deducted as a cash-in charge. The charge for cash-out is 2 percent of the transaction amount or Tk 10, whichever is greater.

Bill paying

Now a day we can pay different kind of bill like electricity bill or Gas bill through online banking procedure. No need to go physically and no need to wait in waiting ques. automatically with their digital monetary transaction procedure transfer your money as your bill payment and provide you the report.

Internet Payment

Now a day we can enjoy online services through modern banking activities. We can visit different store, buy, auction, sell without physical appearance. For online payment or any kind of money transaction banks help us.

On 3 June 2010, Dutch Bangla Bank Ltd. announced to allow internet payments system. Using their Internet Payment Gateway merchants will be able to charge their customers’ Visa, Masters, DBBL Nexus and Maestro cards. This is going to be revolutionizing the [e-commerce] in Bangladesh![6]

Any Visa/MasterCard cardholder (local or overseas) can use their cards to pay at a number of e-Merchants against their purchase of goods. They can also pay DESCO electricity bills. DBBL is working with airlines, railways, utility companies, educational institutions, and stock exchanges for facilitating purchase of tickets, payment of bills/fees and IPO subscription through the Internet Payment Gateway. It is also working to make an interface with PayPal. Once everything is in operation, this will change the payment mechanism in Bangladesh and will reduce public sufferings and tensions.

Website of the bank

Websites of the banks are also a big source of communication. The bank authority can communicate with different official information through their website directly with the mass community. On the other hand general people can give their comments as well as complains and suggestions there. They can also do social awareness campaign through their website.

  Social Work

Bank can also do a lot of social work through digital communication. In the ATM both they can flash different type of social awareness messages. In the mobile after finishing a transaction banks can give social messages or any necessary information. So in this way can be a wide way of digital communication.


The total concept of banking system has been changed over time. Now a bank is a complete financial organization which covers a lot of activities. The word becomes global. So, the necessity of global communication is very high. In this case banking sectors are also come forward and open a lot of doors of digital communication. Now we can do a lot of activities thorough our bank account. Creating social awareness and general announcement can be possible with the help of modern banking system. E-Business, online payment, credit card, ATM booths, mobile banking are some of the examples of digital communication procedure under the blessings of modern banking.


  • What is a bank? Retried form accessed on 3.12.2011
  • Fitch, Thomas P. [1990](2000)Dictionary of Banking Terms: Merchant Bank 4th Edition New York: Barron’s Business Guides ISBN 0-7641-1260-0
  •  DBBL branches to reach 79, ATMs 850 by yr-end. Financial Express. Retrieved 3.12.2011.
  •  DBBL Introduced Internet Payments in Bangladesh. The Hungry Coder’s Blog. Retrieved on 3.12.2011.
  • The statement presented by Bob Hope (1903 – 2003). Retrieved from
  • Credit card, Investors Retrieved from Accessed on 3.12.2011.
  • The statement said Peter Aceto, President and CEO at ING DIRECT Canada. Retrieved from
  • Atiur Rahman, The central Bank Governor of Bangladesh in a inaugural press conference. Retrieved from accessed on 3.12.2011
    •  Digital Communication SystemsH. S. Jamadagni, CEDT, IISc, Bangalore. Retrieved on 3.12.2011

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[1] The statement presented by Bob Hope (1903 – 2003). Retrieved from


[2]  Major L L B Angus. Famous Quotations on Banking. Retrieved from accessed on 3.12.2011


[3] Credit card, Investors Retrieved from Accessed on 3.12.2011.

[4] The statement said Peter Aceto, President and CEO at ING DIRECT Canada. Retrieved from

[5] Atiur Rahman, The central Bank Governor of Bangladesh in a inaugural press conference. Retrieved from accessed on 3.12.2011


[6]DBBL introduced internet payment. Retrieved from