like the thousands of offline brick and mortar banks. Just remember never to link to your bank account from an email link, as this could be a false link, and do not save your banking passwords and security details on a shared computer that could give others access. You can access your account instantly and at your leisure. On the other hand, some people prefer to visit their local bank and interact with the teller in person. This can make resolving disputes more difficult as the account holder will have to make a phone call and possibly wait on hold, or be forced to send an email. Again, some are considerably better (or worse) than others. Measures should also be in place before embarking on an online banking project to protect customers privacy and Know Your Customer rules for online banking customers should be stricter than usual (Basel, 2001). Measures should also be in place to ensure that such customer cannot deny he transacted over the internet. Online-only banks have also sprung up with no actual branches, just a virtual account that promises higher savings rates and a slew of conveniences. But despite all the pros associated with online banking, there are some disadvantages and risks associated with it as well.
Those of the authors and do not necessarily reflect the views of UK Essays. When using an Internet banking account, the account owner may have no face to face interaction with a bank employee if the bank does not. Online banking at least to some degree has become the norm for many simple bank transactions. And that s not a bad thing the easier. Just how comfortable are you conducting your banking business in cyberspace?
Customer Service, although online banks have implemented chatting features and offer customer service numbers for those with questions and inquiries, it still doesn't compare to the customer service you'll receive by banking at a physical bank location. The Federal Deposit Insurance Corporation offers coverage of up to 100.000 if banks cannot cover their clients accounts. Cite weblastEssays firstUK urlp? You can do just about anything online, including your banking and financial transactions. The internet has come a long way since Tim Berners Lee discovered it under two decades ago.
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