ELI5: Explain Like I'm 5

Online Banking ePayments

Online banking epayments is like having a piggy bank that you can access with your computer, phone or tablet. Instead of keeping all of your money in a physical piggy bank, you have a special account that's made just for your money. You can use it to pay for things that you want to buy online, like video games, clothes or toys!

When you need to buy something online, you can go to your online bank account and choose the option to make a payment. This takes your money from your special account and gives it to the store or website that you're buying from. You can also do this when you want to send money to someone else, like a friend or family member.

The best part about online banking epayments is that you don't have to carry around any physical cash. That means that you don't have to worry about losing your money, getting it stolen or counting it all out to make sure you have enough. You can also see how much money you have in your special account at any time, so you always know how much you can spend.

Just like with a piggy bank, it's important to keep your online banking epayments account safe. You should always use a strong password, and never give out your account information to anyone you don't trust. By being careful and responsible, you can enjoy the convenience of online banking epayments and safely buy all of the things that you want!