Question

explain the internet banking language .advantages and disadvantages..

Answer 1

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Advantages

1. An online account is simple to open and easy to operate.
2. It's convenient, because you can easily pay your bills and transfer your funds between accounts from nearly anywhere in the world.
3. You do not have to stand in a queue to pay off your bills. Also you do not have to keep receipts of all of your bills, as you can now easily view your transactions.

Disadvantages

1. Understanding the usage of internet banking might be difficult at the first. That said, there are some sites which offer a demo on how to access online accounts (not all banks offer this). So, a person who is new to technology might face some difficulty.
2. You cannot have access to online banking if you don’t have an internet connection; thus, without the availability of internet access, it may not be useful.
3. Security of transactions is a big issue. Your account information might get hacked by unauthorized people over the internet

Explanation

Internet banking is the system that provides the facility to the customer to conduct the financial and non-financial transactions from his net banking account. The user can transfer funds from his account to other accounts of the same bank/different bank using a website or an online application. The customer uses a resource and a medium to conduct financial transactions. The resource that a customer uses might be an electronic device like a computer, a laptop, or a mobile phone. The internet is the medium that makes the technology possible

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Answer 2

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