A simple presentation regarding online banking, its pros and cons, and of course the use in the modern world.

2.  Online banking
(Internet banking or E-banking) allows
customers of a financial institution to
conduct financial transactions on a
secure website operated by the
institution, which can be a retail or virtual
bank, credit union or building society.

3. Online banking usually offers features
such as:
 Up-to-date bank statements
 Bill payment
 Transfer of funds between the
customer’s different accounts
 Loan applications
 Higher interest rates for savers because
of lower costs

6. There are a number of steps through
which the customers go, when banking
online.
 Customers need to log on
 Security information
 Account information and services
available
 Account details

8.  They don’t have to rent so many main street
premises, which can be very expensive
 They can employ fewer staff which means that
they pay less in staff wages.
 Lower costs (electricity, heat and light for the
branches) mean that they can offer higher
rates of interest for savers and lower rates of
interest for borrowers, attracting more
customers
 There is less likelihood that the bank will be
robbed
 Less money spent on security staff

9.  Less personal touch so harder to sell other
services that may be available
 Possibility of a fraud and interception of
account information by hackers, resulting in
banks losing money
 There are costs related to the website, such as
paying a website developer, and website
maintenance
 There are initial costs, such as buying the
hardware when starting with bussines
 They need to retrain staff, and this could be
expensive

10.  There is no need to spend money on transport
going to and from the local branch
 People with disabilities find it easier than going
to the local branch
 Customers can bank at any time of the day
and night
 They can ask for a loan without being
embarassed about asking a cashier
 Interest rates on saving accounts are higher
 They don’t have to worry about mail delivering
their bill payments to companies on time
 Less likelihood of robbery and no violence

11.  They may lose contact with friends as they may not go out
of the house as much
 Customers must have a computer, internet acces, basic
computer skills and a reliable electricity supply
 There is a risk that hackers will intercept the data and
take money from the account
 Customers may not like the fact that the bank is not
providing the personal touch
 Customers are unable to withdraw cash or make cash
deposits without physically going to the bank or an ATM
 Phishing is a serious security issue (Customers may
recieve e-mails that claim to be from the bank but are
fraudulent, asking them to give out bank details such as
passwords)