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

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