Question

6. What is the difference between traditional banking and E-banking?​

Answer 1

DIFFERENCE BETWEEN TRADITIONAL BANKING AND E-BANKING

Traditional Practice provides limited coverage. E-Banking Practices involve global coverage while sitting at home/office. Traditional Practice does not provide proper marketing tools.

Answer 2

Difference between traditional banking and E-banking

Explanation:

• Accessibility: Individuals must visit banks only during the working hours. Internet banking is accessible at any period and it offers 24 hours admittance.

• Security: Traditional banking does not meet e-security threats. Online banking is the alluring target for hackers. Security is one of the difficulties faced by clients in accessing accounts through internet.

• Cost: The cost experienced by traditional banks contains a lot of functioning and static costs. Such costs are eradicated as the e-banks do not have corporeal attendance.

• Customer Service: ln traditional banks, the employees and clerical staff of the bank can join only few clients at a time. In online banking, the clients do not have to stand in lines to bring out certain bank transactions.

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