One click of mouse opens the world in front of us. Internet in fact is one of the most applied and successful technology of our times. It is the network which links us to others, connects us and lets us to share our ideas. Every type of business no matter how small or large it is relies on internet in some form or other. They may either provide their customers with the additional facility or they may be simply being there on cyberspace without any virtual existence. Same thing holds true for banks as well.
Banks are there in the financial market and they are there for business. They are in financial business providing different financial services to their customers. Online banking is an additional service which the banks provide to their customers.
This is a type of value added service which the banks extend to their clients. It is also known as PC banking, home banking or electronic banking. This value added service enhances the accessibility to account and processing of the transactions.
The benefits which online banking brings for us are many. We can access our account without stepping out from our homes. We can access the account any time and from anywhere. This is in fact a twenty four hours banking which is available to us every time we switch on our computer and visit the site.
Online banking facilitate us to perform any type of transaction, sign e- cheques, pay our clients, make transfers, apply for bank drafts, transfer money from one account to another, check our account balance and lot more. Online banking gives us the flexibility to perform the transactions and access to your account anytime you wish to do so.
What more? We can access different accounts in different banks simultaneously. We don't have to run from one bank to other to find out how much we hold in your account. We also don't have to visit the nearest branch to inquire about the latest account schemes and the loan transaction process.
Banks do provide all the information through their sites. But understanding the method to access these services is what is seen as a drawback of online banking. Individuals unfamiliar with such internet services or using the service for the first time may find it hard to understand as to how to perform different transactions. They often confuse as to press which button to complete the transactions.
Setting of the account and finding the right option may take some time. Sometimes certain options may be embedded deep in some option and digging them out may be a hard job. To overcome this best thing is to first brows the site and familiarize with it.
Trust is also one factor which is seen as a drawback and this is the main reason why most of us are still not using the services.
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