Directory Image
This website uses cookies to improve user experience. By using our website you consent to all cookies in accordance with our Privacy Policy.

Advantage & Disadvantage Of Online Banking

Author: Alex Pardin
by Alex Pardin
Posted: Jul 19, 2018
online banking

With the growing modernization and globalization, regularly we people are encountering new changes and we cannot deny it. Most of the things, job, tasks today are based online so in the way, the online industry has a big market now. Isn’t it? We all can relate to this in our day to day life. We buy clothes online, we can buy food online, we can buy sweets online, also we can make money transfers and accept transfers from all over the world sitting at home. Things are quite easy for us now without any hassle involved. Online banking for people is a broad concept now and millions and billions of transactions from all over the world take place online. In the article below, you will know about the advantages and disadvantages of online banking.

Benefits Of Using The Online Banking Services

No doubt, online banking offers hell lot of advantages. Few of them are listed below. Have a look.

  • 1. We can pay electricity bills, water bills, food bills, clothes bills all online without having any issue of keeping cash all time with us involved.
  • 2. Even if our passbook is not up-to-date, we can check our transactions with the help of online banking services.
  • 3. We can transfer money between accounts be it local or foreign. Banking services in Malaysia provide all the relevant facilities to the customers.
  • 4. We can enjoy online banking on our smartphones with the help of mobile apps given by most of the banks.
  • 5. We can have an easy go through with the budget.

Demerits Of Using The Online Banking Services

Everything comes with both pros and cons. So, in the same way, there are various demerits associated with the online banking services.

  • 1. There are possible chances of getting your online bank account hacked in spite of all the safety provided by the banks.
  • 2. There may be chances you have a limited internet access if you live in any remote or village area. Thus, resulting in the disruption of your online banking. Axios online banking provides you complete online security.
  • 3. Not convenient for the people who do not know how to use the internet.
  • 4. Online banking is not easy. There are a lot of transactions involved in the procedure. So, it may sound time-consuming.

So, Here We Come At The Conclusion

Nothing can ever be perfect. Even if a thing or a person is good at everything, there must be something lacking. And this is totally correct. The conclusion says online banking is the need of today’s world. Also, people are opening their arms and welcoming it to the core. But what people need to keep in mind is the fact that they have to be really aware of the thefts and criminal activities involved in the online banking procedures and do their work carefully always. Axios Credit Banks support their clients by providing them with enormous facilities.

Also, offshore banking services may incorporate a complete range of banking services to satisfy their customers. No doubt, the online banking services have taken us to a far place than we could ever imagine.

About the Author

I am an financial advisor at Axios Credit Bank and deal with all kind of banking and financial services. I love to write about banking and finance industry updates.

Rate this Article
Leave a Comment
Author Thumbnail
Please or Join to add a comment.
Author: Alex Pardin

Alex Pardin

Flag of Malaysia
Malaysia

Member since: Jul 19, 2018
Published articles: 3

Related Articles