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    The Disadvantages of Electronic Banking: Internet Connection

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    benjie monasque
    The document discusses some of the disadvantages of electronic banking compared to traditional in-person banking. It identifies unreliable internet connections, lack of computer skills, delayed statements showing payments, security concerns about hacking and fraud, and loss of human interaction with bank tellers as some of the key disadvantages that make some people prefer traditional banking over online banking.

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    The Disadvantages of Electronic Banking: Internet Connection

    Uploaded by

    benjie monasque
    339 views3 pages
    The document discusses some of the disadvantages of electronic banking compared to traditional in-person banking. It identifies unreliable internet connections, lack of computer skills, delayed statements showing payments, security concerns about hacking and fraud, and loss of human interaction with bank tellers as some of the key disadvantages that make some people prefer traditional banking over online banking.

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    Business administration course

    Original Title

    Disadvantage of Ebanking

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    The document discusses some of the disadvantages of electronic banking compared to traditional in-person banking. It identifies unreliable internet connections, lack of computer skills, delayed statements showing payments, security concerns about hacking and fraud, and loss of human interaction with bank tellers as some of the key disadvantages that make some people prefer traditional banking over online banking.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    339 views3 pages

    The Disadvantages of Electronic Banking: Internet Connection

    Uploaded by

    benjie monasque
    The document discusses some of the disadvantages of electronic banking compared to traditional in-person banking. It identifies unreliable internet connections, lack of computer skills, delayed statements showing payments, security concerns about hacking and fraud, and loss of human interaction with bank tellers as some of the key disadvantages that make some people prefer traditional banking over online banking.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    The Disadvantages of Electronic

    Banking
    By Steve Johnson ; Updated September 11, 2015

    Nowadays, almost every banking transaction---that once had to be done in


    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avo iding long lines, a
    considerable number of people still prefer the more traditional form of banking
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online.

    Nowadays, almost every banking transaction---that once had to be done in


    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avoiding long lines, a
    considerable number of people still prefer the more traditional form of banking
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online.

    Nowadays, almost every banking transaction---that once had to be done in


    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avoiding long lines, a
    considerable number of people still prefer the more traditional form of banking
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online.

    Internet Connection

    Not everyone enjoys the luxury of having a stable and fast Internet connection
    at home. Aside from having a personal computer or laptop, having stable
    Internet access at home is a basic prerequisite to performing electronic
    banking. Of course, people can always use a public computer with Internet
    access; however, the security of public computers is always a concern.
    Nowadays, almost every banking transaction---that once had to be done in
    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avoiding long lines, a
    considerable number of people still prefer the more traditional form of ban king
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online. 00:01

    02:24

    Computer Know-How

    Conducting a successful electronic banking transaction, like paying bills online,


    requires basic computer skills and knowing your way around the Internet.
    Being computer-literate is not common to everyone---especially seniors who
    might not have grown up using computers---and this is a major disadvantage to
    electronic banking.

    Nowadays, almost every banking transaction---that once had to be done in


    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avoiding long lines, a
    considerable number of people still prefer the more traditional form of banking
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online.

    Delayed Statements

    When performing online banking there is not a standard at which payments


    made will show up on your online bank statements; they might show up two to
    three days later, depending upon the bank. When banking in person, you can
    generally get the exact status of your bank account.

    Nowadays, almost every banking transaction---that once had to be done in


    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avoiding long lines, a
    considerable number of people still prefer th e more traditional form of banking
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online.

    Security Concerns

    One of the biggest disadvantages of doing electronic banking is the question of


    security. With the prevalence of keyloggers, phishing emails, trojans and other
    online threats, it is natural for people to be concerned with the security of their
    identity, funds and electronic banking transactions. Using antivirus and similar
    programs is not full-proof. People worry that their bank accounts can be
    hacked and accessed without their knowledge or that the funds they transfer
    may not reach the intended recipients. Although it is rare nowadays with
    enhanced security measures, these threats still exist.

    Nowadays, almost every banking transaction---that once had to be done in


    person---can be done over the Internet. Despite the advantages of online
    banking, such as saving trips to a local bank and avoiding long lines, a
    considerable number of people still prefer the more tradi tional form of banking
    in person. Often, the reasons stem from disadvantages that are incurred when
    banking online.

    Loss of Human Touch

    Some people still value talking and interacting with bank tellers, managers and
    other bank clients. Electronic banking takes the majority of these "human
    interactions" away, leaving the banking experience as a very hands -off,
    impersonal process.

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