Traditional Banking Vs Internet Banking

Traditional Banking
Vs
Internet Banking

Topics to be cover 

•      Introduction Of  Traditional Banking And Online Banking

•      Facilities Of Traditional Banking And Online Banking

•      Advantages

•      Disadvantages

Introduction or Meaning : 

Traditional Banking or Offline Banking :

       A banker or any of the bank is a financial institution whose primary activity is to act as a payment agent for their respective customers and to borrow and lend money from their customers. It is an institution for receiving, keeping, and lending money within the act.  

Internet Banking or Online Banking :

  Online banking or Internet banking will allow their customers to conduct some of the financial transactions on a secure website operated by their retail or virtual bank from the banker.

Facilities provided by

Traditional Banking or Offline Banking :

•       Open an account
•       Cash Withdrawals and      Money Deposit
•       Open or create fixed deposits
•       Renew fixed deposits
•       Request for a cheque book and Demand draft
•       Apply for Loans and Auto payments of Loans

Internet Banking or Online Banking :

•      View your account balance, Statement & Transaction history

•      Transfer funds between account within the bank
•      Put in requests for account statement of account by E-mail           registration 
•      Authorize electronic bill payments

Disadvantages 

Disadvantages of Traditional Banking :

•      In Traditional Banking, sometimes your work might remain uncompleted which is totally wastage of time
•      In case of having any problem, every time you have to visit Banks
•      In Traditional Banking, Sometimes if employees are busy with their bank, it any possibility that they may not give you the proper answer
•      The process takes too much time to complete

Disadvantages of Internet Banking :

·   “Hackers” accessing your bank accounts ( If you have leaked your personal details )

·  One must have basic knowledge about Internet and computer to use secure Online Banking

·    Be aware of frauds calls and not to share your personal details

Conclusion :

If you know about Internet banking usages and awareness related 

to security than Internet banking much better than Offline banking 

and If you don't know about Internet Banking then you have to be 

learn it first.

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