Internet Banking

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I. Internet or Online Banking
Internet banking is the act of conducting financial intermediation on the internet. It includes offering of information and selected services through the World Wide Web by banks and other financial service firm. For those who are quite new to the concept of online banking, this type of service offered by banks actually works the same way as traditional banking. The major difference lies in the convenience offered by online banking particularly when it comes to making payments, obtaining updated information of the account, or merging account statements. Rather than personally visiting the local bank, customer can now access their account and perform bank transactions using the computer. At the comfort and
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An example is when one wants to manage all their wealth and resources together as a couple and wishes to view it online. Certain technical procedures regarding online banking may be taxing too and complicated.
Another disadvantage is the so-called learning curve. This mean, banking online especially in locating the sites may be complicated and hard to find. Another is bank site changes. If this occurs, the bank will require clients to re-enter all the information again and other related data. Trust aspect is also considered one disadvantage. Online banking should be entered very carefully if clients wish to enjoy their financial life.

IV. Safely conducting online transactions “Every online bank will have a portion of their website dedicated to explaining the security measures that they have taken in order to protect and maintain secure transactions. Most of these banking systems utilize the direct-modem connections, which are transactions that are not transmitted over the internet"(Bantwal, 2011) But, if a person happen to be performing a transaction over the internet, then it is advisable to make sure that the bank in question is using a high-end encryption. What is encryption? The process, which was first developed by couple of super genius computer whiz kids, helps jumble the data so that only the receiver who it is intended for will

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