Indian banking industry, today is in the midst of an information technology revolution. Combinations of regulatory and competitive reasons have led to increasing importance of total banking automation in the Indian banking industry. Information Technology has basically been used under two different avenues in Banking, one is communication and connectivity and other is business process reengineering. The main objectives of the present study are to evaluate the level of awareness on phone banking services among the customers of commercial banks, to identify the various factors influencing the usage of phone banking services and to measure the level of satisfaction of phone banking services among the customers of commercial banks. This study concluded that commercial banks’ customers are moderately aware about the foremost E-Banking channels of ATM, mobile banking, internet banking and phone banking channels and satisfied in all the services that are related to the four channels.