ONLINE BANKING

        The developments in the realm of the internet have given rise to a wide range of radical changes in relation to our daily lives.In today’s  world,we can use the internet to do our tasks and work without  so much effort compared to the past.One of these radical changes that the internet has brought to modern life is online banking,which has achived great success across the globe for over a decade.Today many people would rather do online banking than traditional banking on account of its considerable advantages, yet it has many disadvantages as well.

First of all,the mos tadvantageous aspect of online banking is that it is conducive to saving customers’ time ( it saves a remarkable amount of time).When one goes to a bank,he has to wait for an extended period of time for his  turn to come,yet online banking offers customers the same thing just by pushing a couple of buttons ( enables the customers to do the same thing just by pressing...).That is, it prevents one from wasting his time in the bank,which is crucial to people who are struggling to get to a bank due to their busy daily routines.Moreover,this is one of the ways that we can save our money.To illustrate,when we get to a bank to pay our bills or rent,nearly all banks require us to pay extra money due to the supposed expenses that the bank has to meet in order to serve their customers better; this  is the way that many banks resort  to  to promote their annual revenue.On the other side of the coin,most activities that online banking offers us are usually free of charge,which makes it appeal to those who run their businesses through banks.Furthermore,there are numerous people who have difficulty getting to a bank due to theirdisability or ageing.From the point of view of these kinds of people, banks are the destinations that they can not reach without someone’s help or their wheelchairs, which makes life harder for these people. However,despite thE difficulties keeping them from getting to banks,these people can do activities involving banking at their homes with the help of a person who is capable of doing these things.

Besides its advantages,online banking has considerable disadvantages that many people are questioning currently.The most debated thing with respect to the drawbacks of online banking is the lack of security that makes bank accounts more prone to be attacked by hackers from all over the world,which is the most prominent cause of the decline in the reliance on online banking.Today ,most people are not even aware of the vulnerability of their online bank accounts to these kinds of attacts and they don’t care enough about it. Even the most basic steps that every peerson  using online banking has  to take such as not accesing their own accounts through public online networks such as cyber cafes are disregarded .Online banking also enables banks to strengthen their relationship with their customers,which,in time,leads to unwanted results in terms of wasting money.Today many banks resort to numerous ways in order to trigger more spending  since they need this to increase their revenue.Therefore, banks usually try to persuade people to use online banking because it is the best way for banks to fool people.

To sum up,online banking is the way that millions of people are using to make their lives easier nowadays.Although it has a long way to go in terms of its security drawbacks,it is worth useing online banking due to its considerable advantages.