Now-a-days, in net banking sector they use 2PC protocol. But, it is problematic for single site failures. The authors have used the formal model of distributed commit protocols in the process algebra mCRL2. They applied this method to the three-phase commit protocol and proved that it is erroneous for simultaneous site failures. For the security of transaction SOAP protocol is used. In this, user will enter their user id, password and one-time password for accessing their account. They can view all their transactions across all branches of net bank locations online and do transactions within the bank network.