Internet banking is easy and convenient. The primary advantage of Internet banking is convenience, the main disadvantage is security.
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Internet Banking: Advantages and Disadvantages
Internet banking is becoming an increasingly popular way to perform basic banking transactions. Customers can access their accounts at home or from work using their personal computer or their cell phone or other mobile device.
There are both advantages and disadvantages to Internet banking. Let's look at the advantages first:
Advantages of Internet Banking
* The ability to access information 24 hours a day, 7 days a week from a computer, laptop or mobile device.
* The power to check account balances anytime, thus avoiding overdraft charges.
* Online banking is fast and efficient.
* The ablity to see transactions immediately.
Disadvantages of Internet Banking
* Banks have security protections in place, but there is always the possibility that something will go wrong.
* Setting up the online account can seem daunting.
* If your Internet connection or the bank’s server is down, you won’t be able to access your information or make transactions.
The next step in online banking is mobile banking - doing your banking from your mobile device, like a cell phone or a PDA - Personal Digital Assistant. The current technology of the iPhone and the Android operating system enable customers to have access to their bank's website for information and to log into their account and perform the following banking services:
* Checking your balance and activity
* Receiving alerts about activity or overdrafts
* Manage insurance policies, pension plans, etc.
* Access card, loan, or mutual funds statements
* Stop payment on a check
* Block lost or... [continues]
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