Online banking is one of the most preferred ways of banking these days. What's not to love? It's easy; it’s fast, and convenient. Transactions can be done from the comfort of your own home and at your own convenience. You don't have to stand in line. You don't have to travel or stand in lines or make sure you are in the bank during operating hours. Online banking has changed the way people live in so many ways and the businesses and industries that have benefited even more.
You are the consumer now and the way you transact your money online with online banking is between only you and the bank. Most transactions happen in real time, except for bank to bank transfers or bank to individual transfers. However, you cannot transfer funds, make withdrawal, or deposit money from your mobiles devices.
Traditional banking has limited operating hours. If you didn't make it into the bank before closing you would have to leave and return at another time. Online banking can be done all day, all night, and every day of the week.
No matter how much businesses try to safeguard their financial information sometimes there are genius malwares that get through. Safety precautions prevent online breaches and the securing is more secure now than in previous years. There is an increased level of criminal activity because of online banking. Online predators are always looking for identities to steal and personal information of private individuals through phishing.
Considering the benefits and dangers, online banking has changed our lives dramatically!