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Online Banking- Advantages & Disadvantages of Online Banking

Online Banking
Day by day our life is becoming more easier and convenient due to modern technology and new innovation of science. Internet banking or online banking is adding value to our life by such kind of concept. Online banking is a such kind of services by which a customer can access to his/her bank account by logging on a website with a password and ID provided by the retail bank.  

Online banking has some alternative names such as internet banking, e-banking and virtual banking. Basically, it is a convenient way of banking services.

By online banking service, a person can made account transfer, balance inquiries, bill payment and some other tasks. A person can access to his account all the time from anywhere. All he needs is to have user ID and password for his account provided by the bank.

Online Banking

Disadvantages of Online Banking

1. Transactions are possible from anywhere by using computer and internet connection.

2. Online banking are operated by software automatically, for that it is a rapid & convenient way.

3. Customers can pay their utilities bill, know their balance, fund transfer etc from home. It can be done at any time of 24 hours, any time of 365 days.

Disadvantages of Online Banking

1. Strong securities should be enabled.

Online Banking

Actually, online banking system is a such banking system which is an electronic payment system. There are some banks which are providing online banking services in Bangladesh. If you are interested in online banking system, you can communicate to your bank.