Electronic banking

With the advent of the Internet, we have fully entered what is called the era of communications.

If it has always been said that having information is power, we can say that the Internet has democratized society as long as it is a means of equitable sharing of information. That it also distributes misinformation, legends and hoaxes.

But staying on the positive side, the Internet has been fundamental to the development of economies: from to publicize and sell products worldwide, to convey to images and documents instantly, etc. This has led to productivity gain, to save time on efforts that were previously more cumbersome.

Banks, of course, has not been immune to this information revolution. First, it has reduced the cost of internal management, to be faster and cheaper to move information, and moreover has saved hours of their employees to be now lots of paperwork that customers make on the Internet. Therefore, Internet generates additional benefits to the banking system because it increases your productivity and lowers your costs.

Is it advantageous to online banking?

But from the standpoint of consumer banking products, is advantageous electronic banking?

We can say that to a customer, being able to do almost all the arrangements over the Internet is a very positive aspect. Who has not spent hours waiting in a bank, or lost all morning doing banking transactions?

Internet manages to that of banks go into history. From home, from our work or from anywhere (there was already mobile Internet, and electronic banking via mobile phone) and we can carry out all procedures that used to require our presence, or at least a call to the bank. Open accounts, have them checked, make bank transfers, pay or return receipts, pay taxes, request, activate and deactivate cards, make investments, create pension plans, insurance contract, procure goods in renting , and so on, as well as a set of tools to manage our money and know our real position. All this is possible from a computer or mobile.

The person, who can do all these steps from the Internet, will save many hours a year to one that goes to the Bank to carry out. These hours translate into direct cost savings in many cases (companies). Besides saving time, the convenience of controlling our finances without move must also value it.

Anyway, at least once you have to go to the bank to create an authoritative that allows us to operate at a distance in the future digital signature.

A further advantage for the user is that e-banking, unlike offices, is not subject to schedules, for 24 hours a day, 365 days a year and is available from anywhere in the world at reduced costs.

But as a reflection, it is also true that having dealings with the staff of our usual bank branch may be appropriate. There will be times when you have to negotiate specific issues that require the complicity of the employee. Therefore, maintaining good relations with the cashiers, auditors and directors of the entity and that they know us well know that our financial information and our solvency level, is something that we should not neglect.

Disadvantages that may involve Internet banking

As for the disadvantages that may involve trading online, we can say that the personalized attention and financial advisory functions that are performed in an office is lost.

In addition, electronic banking may seem a lot more insecure traditional users. We have to say that most large companies have security measures to prevent access to customer data and ensuring accepts deposits. Still, there will always be problems with criminals, but perhaps not steal money in the bank branches or leave them, or at ATMs? We comment in defense of some banks offer free services involving the cancellation of all fraudulent transactions that we could always suffer that communicate within a specified period, which can be 48 hours, which should give us some comfort.

In short, electronic banking saves the customer time traveling and procedures, and provides control and operational 24 hours a day from anywhere in the world.