Online banking is considered essential part our life in today’s era. With the advancement of information technology and internet every bank has started to facilitate its customers with online banking and with the passage of time it gets more and more common in the people. The other name of online banking is E-banking. There are many advantages of online banking but at the same time it has disadvantages. This webpage has brought some advantages and disadvantages of online banking. It has been seen people are wondering about whether they could have online banking account or not. If you are going to open online banking account please have view about disadvantages and advantages of online banking then decide what is better for you :-).
Disadvantages of Online Banking:
Well if online banking has benefits than it has disadvantages. For online banking service the first thing is to create or signup the account which may can be a difficult as the bank officials may require many things such as your personal Identification card, photos, identity and verification so it can a time taking process therefore online banking cannot good as you think. The other thing while opening online bank account is that if you want to open mutual account in that case one of them has to provide attorney.
Another big disadvantages of online banking is that you will have learn all the important parts of using account on website of concerned bank including software used on website and the websites of banks can be changed or up-gradated so for non-internet users can face difficulties. It has been also noticed that some due to non-availability of internet or any other technical issues can cause to stop the websites, so you cannot operate your account in the absence of internet or without proper working website. Money on online banking accounts can be unsecured there are many possibilities that personal information including pin codes are being theft with cyber-crimes so if it happens you may lose all money.
Whenever you are feeling difficulties regarding your bank account you visit the concerned branch and meet trained staff which they take some time and yours all problems are being solved but on the other hand in online banking account system you may not have these facilities so you may face many of problems.
Advantages of Online Banking:
There are many advantages of online or internet banking in these days. One of the biggest advantages online banking is to pay your every bill. In the past you may have to stand in lines for long time to pay your all kind of bills but the facility of internet or online banking has made it easy. You just need to have informed the concerned official in the bank for making your profile for the purpose of paying online your bills. It sometime does happen that your bank will not pay your bill in that situation you can pay your bills with online companies but it might be possible these companies will charge fee so be aware. The other benefit of online banking is that you can observer your transaction with the use of internet. Moreover transaction with the facility of online banking is more than reliable because the chances of theft of money are very rare.
The money is considered more save for making transactions online but you should have awareness about using online accounts on internet especially with your personal computers. Because if you don’t clear your computers cookies there is might be a chance anyone can disturb you by making fraud. So you must clear your personal computers cookies every time you make use of online banking.
If your bank is providing you online banking facility than the availability of your money is very much possible. You can even make transaction on holidays as you just need to login your account. The ATM cards can also be used for transactions. In these days mobiles are the latest form of online Banking.