What does internet banking mean?
Is online banking and internet banking the same? Online banking is also called internet banking. Internet banking is easier for people because they don’t need to go to a bank or ATM for transfer. Internet banking can be used in many devices like laptops. Mobile banking can only be used on mobile phones and tablets. All transactions via the internet so you don’t need to go anywhere to transfer your money safely. Maybe this way will be hard for older people because they use traditional ways to do transactions. People who have online banking it will be easier for them not to bring so much money.
Advantages and disadvantage internet banking?
Advantages internet banking;
- It will be more easier
So for the people of course it will be easier to the people that need to transfer it quickly but safely to another person. It is also easier because you don’t need to worry that money will transfer to the wrong person.
- Low or no minimum deposits to open accounts
When you do online banking you don’t need to pay for deposits just to open accounts. Why don’t you need to pay? Because internet banking is just via online and of course it will be free.
- Don’t waste time
This internet banking you can do quick transactions like if you want to pay you scan qr code for transaction. It can save your time because you just need to scan and just type the amount you need to pay and done. You don’t need to take your time to search for cash.
Disadvantage internet banking;
- More people prefer cash
For example small stores usually prefer cash so they don’t have qr code for internet banking. Usually people that prefer cash are old people because they don’t know how to use internet banking.
- Internet fraud
Internet banking has security to access that account but actually there are many frauds or scammers. They can hack our bank account if we aren’t careful about it. Internet fraud usually will lie to old people because for them old people will be easily deceived.
- Your banking information may be spread
If your banking information is leaked, your bank is not safe and the people that know about it can take your money. Internet banking can be accessed with many devices. Not that’s really safe because other people can access it if you don’t remember to log out.
Which is better, internet banking or mobile banking?
The answer which is better is mobile banking because mobile banking is more safer than internet banking. Mobile banking you need to go to the bank and confirm your account. But for internet banking you just fill your password and you can access your account. Because of this internet banking is not safe because if other people know about it you just can take the money from the bank. Even internet banking is more comfortable for people but still older people need mobile banking or traditional ways. Both internet banking and mobile banking have their own advantages and disadvantages.