Online Banking
One important perk of e – commerce is online banking, this has slowly been evolving to be something great. This basically means that you can access your bank as exactly how you would do it in person. You can do all the same things, and you can transfer money to other accounts and create branch accounts with step – to – step guides. However there are people who would argue ‘is it safe?’ in answer to this FAQ, I would say that a vast majority are very safe, yes you have all your details on there, but so does your high street branch… there’s no real difference apart from you can access your bank online. You can make it more secure by adding questions that only ‘you’ would know, a lot of people do this, yet loads don’t bother as they feel more trust for the online banking systems.
 |
| Egg logo |
There is actually an online bank that is only accessible online… this online bank is called ‘Egg’. Egg banking PLC is a British internet bank owned by Citigroup, and was established in 1996, it was properly launched in 1998 and is now the largest online bank system. They specialize in savings, credit cards & general insurance. Although it used to offer loans and mortgages it now longer does not.
The key to online banking is simple, its trust, without these the systems simply wouldn’t function as no one would want to use them, luckily for us security is always improving. Without security these banks wouldn’t exist...
Advantages of Online Banking:
- Having an online bank means you don’t have to travel to the high street
- Can check your statements whenever you wish
- Accessible 24/7 unlike high street banks
- You can save the actual business itself from printing costs as they can send you information direct to your e – mail or bank account itself
Disadvantages:
- Hackers are always trying to break into online banks
- Security checks can be off putting and can be time consuming
- As it is a fairly new thing not everyone really trusts it
- Unlike a high street bank you can ask away, with an online bank it’s very hard to seek help
I myself don't use online banking, why? I'm not the biggest fan of it, although I would trust the service, I prefer face - to - face communication, where as if I do get in a sticky situation I know that help is only down the road. However I can see why others would use online banking, especially those who don't have access to a local bank.
