Advantages Of Online Banking

With the advent of Online Banking everything seems easy and within the reach of hand. Online banking is becoming much more popular these days than in the past, due to faster internet and more and more options. Online banking is also called as E-Banking, Internet banking or home banking.

Online Banking has following advantages:

1) Worldwide the number of daily transactions have increased enormously, due to powerful computer networks. Through online banking multiple transactions can be done super fast and smoothly.

2) No more time consuming paper work is required and gives access to many different banking services to its clients instantly.

3) Online Banking means anytime and anywhere. Unlike traditional banks, which opens for couple of hours, through online banking the services can be accessed 24 hours.

4) Another popularity gaining advantage is the payment of various utility bills through one's account. Whether its mobile bill, electricity bill, water bill, car loan etc . everything can be paid without much hassle. You can set up recurring bill payments for monthly bills.

5) No need to carry much cash or cashbook while traveling. You can access your account from any part of world and get your funds transferred.

6) Also the individual can manage and access all of the aspects of bank accounts like CDs, IRAs securities from one protected website.

7) No need to hop to nearby ATM or bank for any financial transaction. So Online banking not only saves your time, but also saves your money.

8) Online savings accounts typically earn a better interest rate than the savings accounts at a bricks-and-mortar bank.

9) Online banking has given more access to Stock Marketing, making it faster.

10) All the above services and more and more facilities can be accessed from the comfort of your home. No more long queues.

Apart from various benefits, there are also some disadvantages of online banking as online crime is increasing day by day. A few computer glitches which have revealed individuals personal details have been occurring, sometimes at third party processors. Keep your passwords confidential and change once in a while. Always log off from your account after completing your transaction.