Question

advantages and disadvantages of internet banking 1) convenience to customers point explaination​

Answer 1

Answer:

the advantages are

save time

less effort

less work

can do banking in every where

money not needed

the disadvantages

not too safe

chance of theft

chance of inconveniences

Answer 2

There are several conveniences of e-banking or internet banking to the general customers such as 24/7 availability,hassle free banking,can be accessed from any location,faster service,saving time,easy usage and so forth.

Explanation:

Customer conveniences of internet banking:-

1. 24/7 Availability: Internet banking or e-banking is available anytime of the day from any where.The customers need to have a secured and stable internet access on any of the electronic devises such as smartphones,laptops,computers or tablet PCs.It is possible to conduct any transaction at anytime of the day once the customers have these required resources.
2. Hassle free banking:With e-banking,the customers have access to all the banking and financial facilities at their finger tips.From opening a savings account to transferring funds to check the balance of mutual fund account,the customers can enjoy so much benefits without visiting the branch physically and go through tons of paperwork or documentations like the olden days.
3. Time saving: Internet banking can save a lot of time for customers,especially working class and business consumers,by using paperless transactions through internet banking.Instead of visiting respective branches and waiting for particular bank officials,the customers can open the banking app or website and can perform any banking or financial activities within few minutes most of the time.
4. Easy to use:For customers,internet banking requires only an electronic devise and consistent internet access.This makes it a popular banking feature for most of the young and middle aged customers.Most people today are very much familiar with smartphone usage and basic internet applications as these have become an integral part of our regular lives.Hence,mobile banking has gained increasing prominence in modern society.
5. Less mental and psychological hassle:As mobile banking allows banking and financial operations from anywhere at anytime,customers can be rest assured about their transactional timings and security.One can perform any banking activity attending a meeting or while in public transport.A customer can also check the timing of any transaction and ensure its completion so that it is reflected in the final account balance.This provides immense mental or psychological peace pertaining to the timing and security of financial transactions.