Benefits and Disadvantages of Internet Banking

by Minkesh Sood - Date: 2008-09-18 - Word Count: 352 Share This!

If you fit in to the generation that is habitual of sitting in front of computers and doing all your bank transactions, shopping, booking purchasing of goods with the help of internet. The internet facility assists you in doing all these activities without going outside and from one place only. Banking is one of the most important advantages of internet. For people who are older the perception of not interacting with human inside the bank will be bitter pill to eat. They still wonder about the positive and negative aspects of using internet banking.

Nervous people recognize the benefits of Internet and hearing many things about Internet banking but they are still paying their bills by mail and deposit checks at their branch.

Lot of people are already using the Internet facilities for taking loans, mortgages even then it comes to finalize deal they still go for office of the lender they opt for and contact those agents.

Before knowing its benefits and disadvantages for Internet banking, concept must be known.

Starting of online banking

When the internet started to become incredibly accepted and computer commences turn out to be progressively sophisticated, many business tycoons started to shift their attention to the trend and recognized their online presence. This similar movement also started to redesign the banking trade.

In earlier period, banks use computers to make routine transactions. Now there is hardly any paperwork at all since everything is done online with the help of banks networking system.

For banks, the Internet transactions played very important role some customers are not able to visit branch personally. If such facility is available with bank then they can increase there customer base.

There are many sub parts of online banking such as PC banking, home banking, electronic banking or online transactions.

In starting national banks take this major step towards online banking the step become successful afterwards now regional banks, smaller banks, financial companies joined in and implemented their own electronic banking set-ups.

Today the big banks have sites that provide fully secure and fully functioning online banking services that give their clientele ultimate convenience.

So, internet banking has more benefits then its disadvantages.

Related Tags: online transactions, internet banking

Minkesh Sood is working with Financial Consultancy.
He has a Masters Degree in Business Administration and expert in financial advice.
He writes about various finance related topics.
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