Online banking is continuing to increase. There has been at least a 10 percent increase since 2010. Online banking provide features where you could access and manage your account. You can check your balance, account activity, or search your statements and payment history from a desktop computer, laptop, tablet or smartphone. You can pay your bills through online banking and make transfers online between accounts from your home, school, office, or wherever you can connect to the internet. A couple years ago, I went to a grocery store and shop for what I need. Then I went to check-out. After I swiped my debit card, I was told that my card was declined due to insufficient funds. I did not have another card on hand. So, I had my smartphone and transfer money from another account. Then, I was able to purchase the item. This is an example of mobile banking. Online banking is getting a boost from mobile technology.
The advantages of online banking is that it is convenient, no lines, the availability, and the innovation itself. Some people regular work schedule is Monday-Friday from 9am-5pm. Banks often closed at 5pm on weekdays, shorter hours on Saturday, and closed on Sunday. Making a trip into town after work can be a hassle. By using online banking, you can avoid waiting in line.
The biggest concern of online banking is identity theft, but the Internet does offer potentials for safe and convenient online banking. For more information, visit FDIC: Safe Internet Banking.
Sources:
https://www.bankofamerica.com/onlinebanking/online-banking.go
http://www.fdic.gov/bank/individual/online/safe.html
http://www.accountnow.com/content/online-banking/4-advantages-of-online-banking-2/
http://media.ally.com/2013-12-04-Online-Banking-Continues-To-Increase-In-Popularity-According-To-Annual-Ally-Bank-Survey
http://www.bizjournals.com/sanantonio/blog/2013/05/survey-shows-online-banking-getting-a.html
I haven't stepped inside a bank in a few years. Mobile technology definitely makes it more convenient to make deposits, transfer funds, and see your current balance at any time. When I do decide to use cash ATM's are everywhere. Some online savings services even have mobile apps so that makes them easier to use when away from a computer.
ReplyDeleteI have been banking online for 4 years now, and I don't feel I would stop because I never felt that it would be risky. There are a lot of advantages and opportunities such as transferring money between my accounts, it take me less than seconds to do it when ever I want and where ever I want. Also, it is easier to track my banking activities and I don't have to wait till the bank send me the monthly statement. I just wish that my country follow the lead.
ReplyDeleteMohammed Bin Ahmed
I love online banking. Have it on my iPhone I do not even need to go to the bank unless I need cash. I can transfer money, deposit checks, check my balance. Basically do it all its a great feature that is making our society easier.
ReplyDelete