Online Banking. Good or Bad?

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The world has changed everything goes technology these days. Our daily clerical works can be done via the internet. We wanted to find out how much do people trust leaving up to the advancement of technology to do their daily chores so last week poll question we ask our readers whether they trust and will pay their bill online? Below are the results:-

The results above clearly shows that although technology has became one of the very important things in our daily life’s however people are still hesitating in using it certain areas for example online banking. 78% of the readers find that it’s just too risky doing their billing online as involves money transactions. Only 11% of them feels that the advancement of technology these days are good, it is save to billing online there’s nothing to be scared of. However the rest of them has mix feelings about it.

Online banking has been around for quite some time, here are the advantages and disadvantages of online banking.

Advantages:

1. Convenient. User can do transaction, paying bills and checking balances anytime and anywhere

2. Fast, Effective and Efficient. Its faster than ATMs and one can handle several accounts in a time.

Disadvantages:

1. Security Issues. Users are mostly concerned about hackers and anti-social elements. Hackers can hack in to the users account and use up all their money.

2. Necessity of the Internet. To do online banking one must have access to the internet with connection sometimes in certain places its impossible to have the connection to the internet.

3. Customer Care Services. Via internet the communication between a bank representative and the user might to slow as there’s no conversation takes place only all through written. And this sometimes may confuse the users and not getting the correct answer.

Reference: Ezine@rticles, Online banking:Advantages and disadvantages, Michael Russell

URL:http://ezinearticles.com/?Online-Banking:-Advantages-and-Disadvantages&id=445102

Online banking has its pros and cons the decision are up to the users. Carefully understand the cons and take necessarily precautions. Happy Banking! 

-Tenesha-