Internet banking and virtual banking offer convenient and cost effective methods of doing bank transactions. Technology paved way for more advanced services but simplified for the traditional banker. The shift from traditional banking into virtual modes of transaction takes time and trust. Security and ease of access is the major competitive thrust of online banking.
Internet banking has made lives easier and banking faster and more pleasant because its a cost effective way of managing accounts that takes care of thousands of customers without going to the bank. There is no need to fall in line and administrative work is eliminated and save banks from overhead costs.
Online banking has many advantages. First, they provide ease of access 24/7 anytime, anywhere. Managing your accounts from paying bills, transferring money and checking balances will be hassle free because you have access from a secure site. Unlike traditional banks, online banking never closes and just within a click of a mouse.
Speed and efficiency of transactions are executed quicker than ATM machines. Even if you are out of the country, one can access and manage accounts real time and with...