Facts About Online Banking You Must Be Know


Online banking ...


                   Online banking gives you ability to manage your account online so ,you don’t have any need to visit a bank branch.Online banking allows people to:Check their current balance


* Make loan payments
* Transfer funds
* Bill payment online
* Stop payment request
* Credit card application
* View debit and credit transaction
* View their detailed account history
* Receives all types of information about products and services
24 hours account management
* Order the cashier’s checks and regular checkbooks.
It is always safe and secure



There are many advantages of online banking as well as disadvantages


If you are not curious with online banking technology it becomes trouble for youMany of other problems happen. e.g if your computer or bank’s computer is not working properly you have to face the troubles than worthSometimes online banking websites go down. When this happens there’s no backup branch that you can go to and the phone lines will be closed. To protect yourself from these type of flaws always keep a local bank and credit union account open with some emergency cash.



PROS AND CONS OF ONLINE BANKING

PROS:

Transaction Speed:

              Transaction speed of online banking is very high. It is more quicker than manual transaction.
Effeciency :
                 It is more efficient, more reliable, safe and secure. It manages all accounts of user. If you are out of country and money problem arises you can just log on to your online bank account and take care of your business.
Availability:
               Online banking sites are just a mouse click away. They will never be
closed. They are 24 hours available .
Bill Payment:
              Bill payment is one of the wonderfull advantage of online banking. Wether it is paying from home equity line of credit or checking or saving account.

CONS OF ONLINE BANKING:

There are many drawbacks of online banking.
Security:
       In this age of computer security is a biggest issue. It is a significant drawback of online banking. Social disease like computer hacking and identity theft is spreading all over the world. Organization do their best effort to keep secure their websites but unfortunately due to some vulnerabilities a hacker hacks to your account and gain access to sensitive information

Website  Changing:

             If the bank upgrade their programs add new features to their program so u have to re-enter all your information to log on to your account. It is a difficult task for those who have not enough knowledge to gain access to their account.


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