What are the advantages and disadvantages of online banking

Online banking or online banking, is one that can be accessed through the Internet. This type of banking can correspond to physical branches or perhaps to others that operate only by Internet or telephone. If we have doubts in this type of services, it may be practical to know what are the advantages and disadvantages of online banking.

one

From the point of view of the advantages of online banking, perhaps one of the most important aspects is that economic relations with the entity and third parties are facilitated ; and that is that in online banking we will not have to move to be able to carry out operations such as transfers, contract deposits or consult our movements. Undoubtedly, the saving of time is positive, because the daily life makes our lives quite busy, and having to move to the physical branches of the banks can be a problem.

two

If saving time in operations is an advantage, so is the online banking schedule, since we can operate with it 24 hours a day, seven days a week. In addition, we can read comfortably from a computer, at home or office, conditions. Without time pressures or unnecessary waiting.

3

Online banking has low management costs, so conditions and offers, as a rule, are much better. Thus, we can eliminate many of the maintenance costs and the commissions will be much lower, so we can take advantage of an online account.

4

The disadvantage that usually worries the client is the concern for safety . When carrying out all procedures and operations via the Internet, there is a risk; and is that there is a lot of personal and confidential information that moves in this type of services, very attractive for cyber crime .

5

While it is true that it may be advantageous not to have to witness a physical branch, online banking also finds a disadvantage at this point; and it is that it considerably increases the separation between client and entity, and there are many people who still prefer face-to-face attention.

6

Finally, we must also point out the disadvantage of the reach of the Internet ; and there are many rural areas or developing countries that do not yet have a high Internet penetration, so it can be difficult to access the tools of online banking.