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Get Answers to all your Questions
What are the advantages and disadvantages of e banking? please tell me in detail
Answers (1)
Online banking allows a user to conduct financial transactions via the Internet. Online banking offers customers almost every service traditionally available through a local branch including deposits, transfers, and online bill payments.
Advantages -
- 24/7 account and service access
- Speed and efficiency
- Online bill payment
- Low overhead can mean low fees
- Low overhead can mean high interest rates on deposit accounts
Disadvantages -
- Technology issues
- Security issues
- Inefficient at complex transactions
- No relationship with personal banker
View full answer
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