Is Online Banking A Good Thing Or A Bad Thing?

One then clicks on the Login Online Banking button on the page’s top right hand corner. One then enters their Username and password they had provided when signing up. At this stage one checks their login credentials to ensure they are correct after which one clicks on the purple login button. This takes one into their account from where one can perform transactions or even apply for a loan.

As their name suggests, they only execute their operations online. Customers can only be in contact with their money over the internet since they do not have any physical branches. Because online-only banks require lower overhead costs, they have the capability to offer more free services and higher interest rates compared to a traditional bank. Online banking provides many customers the convenience of handling their business at any physical location as long as they have access to internet. This is possible because of the variety of services that online banks provide despite limiting interaction to only the internet. Some of their services include applying for loans online, transferring funds and paying bills online. While the convenience of being able to access banking through the internet is worthwhile, there are limits to it. For example, making large deposits to the bank is limited and can only be made through the mail, they don’t service cashier checks for transactions, and withdrawing money from the account is very inconvenient. Luckily, the role of the internet in financial transactions is becoming increasingly prominent so that spending money online is more accessible, but it is important to understand both the benefits as well as restraints of online banking. Nowadays, many large brick-and-mortar banks have caught on and provide some online services in attempts to

checking bank/credit card accounts with simply a couple clicks. The second one that I believe is

Banking online is a recently developed convenience. How often do you forget to pay your bills? With online banking your bills are paid on time. You also have immediate access to your bank statements updated by the minute.

Since you can connect to all of your accounts, you can add any and all bills you have, such as credit cards and loans. The great part is that, it will alert you when upcoming bills are due. You can bill your bills with your bank account or credit card right on the site. Weather your on your phone or computer, you can pay your bills remotely.

Being able to have access to my account on the palm of my hand is amazing. Not having to set a foot on the bank has saved me time, gas and money. Time is very important to me and the way I spend it is written down in my planner. I do not have the time or the money to drive and wait in line. In the time it would take me to drive to the branch and back home, I could watch a movie with my family or do some homework. This application has really made my life a little easier

You have the option to use and connect the credit card and bank accounts to save your time.

This means that they would not have to enter their card number, name or security code, but would choose which click on a link to the website of the bank that they use, where they will be redirected to their banks website and able to pay via the site. The advantages of net banking include the safety compared to giving personal details to websites, which sometimes can seem untrustworthy. Advantages of mobile banking as a whole include again security, but also the ability to access the bank at any time and generally most apps or websites include all the functions that you would expect in a bank, except the human advice and the ability to bank cheques, and this means you should need to physically go to the bank less. However, there are some downsides to online banking, these include security, which is normally seen as an advantage but information can be stolen be identity thieves and this can take months or even years to rectify, and you may lose money that has been spent by the thieves. Obviously, you would not receive the same customer service that you would do if you walked into a bank, this means that you could lose money by not have advice when investing or transferring

Owner can access your account regardless of where they are even in the oversea, they can still check over their investment fund, financial transaction and more services. Thus, they don’t have to consume their time to go for the bank.

The value proposition it offers is that your money can be received via e-mail quickly without paying a big commission as it is with credit cards and with certainty that this is transferred by a large institution for the when the merchant receives the notification via mail and money already in your account that can transfer money to another account, and if necessary transfer to the account of another person, one of the advantages that this system has besides being very fast, this operation is less heavy and you do not have to be waiting to get money because, as is the case of check and credit cards money sometimes delayed, another

According to Pew Research Center, almost two-thirds of Americans today use smartphones and almost 19% of Americans rely on smartphones for other means than simply calling or messaging. Additionally, 84% of Americans own computers and almost 75% of Americans own a computer that is connected to internet. Whether it is by means of smartphones or computers, most of society stays connected through technology. Therefore, to keep up with the technological trends of society, online banking and banking apps have been created and now over 50% of Americans use online banking or some sort of banking assistant through their technology. In addition to this, the use of credit cards has greatly expanded and there are currently around 721.82 million credit card accounts in America according to research done by Statistica. These new financial technologies and increasing

Banks can use it as a useful tool to make more loans and to maintain a higher capital level. However there are risks attached with this financial innovation, as securitisation played a role in the financial crisis in 2007 through sub-prime mortgages. This essay will discuss the process of securitisation, bank’s motives for using it, its advantages and the risks. There are three types of securities: Collateralised Debt Obligations (CDO), mortgage backed securities (MBS) and asset based securities (ABS).CDO are a form of security that are asset- backed, they allow banks to group cash- flow generating assets (loans, mortgages and bonds) into a SPV. Investors choose which tranches they want to buy based on their varying risk and returns. MBS

Eighty-five percent of the survey participants said they would bank only with an institution that offered online banking capabilities. In addition, 82 percent said they would use more online capabilities if offered to them.

SMS banking will provide one to request bank details through mobile independent of time and location.

The research is focused on what are the customer’s perceptions about internet banking and what are the drivers that drive consumers. How consumers have accepted internet banking and how to improve the usage rate were the focus of research area in this study.