Tuesday, October 13, 2015

What is online banking?

Online banking is a modern banking system that emerge after technological advancement and information technology. Bank customers are able to perform their banking activity from anywhere and anytime as long as they are connected to the internet.

Online banking through traditional banks enable customers to perform all routine transactions, such as account transfers, balance inquiries, bill payments, and stop-payment requests, and some even offer online loan and credit card applications. Customers are also able to access their bank account and the information will be updated every time they check it.  


However, some banks might have limited coverage for online banking since they might have problem with infrastructure and environment. Security might be an issue for some customers since hacker can steal their money even though it is unlikely to happen.

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