Question

for the person receiving the money what is advantage of online transaction compared to a cheque

Answer 1

In online we need to just do some clicks in our mobile at anywhere, any time.
It is faster as compared to a cheque

Answer 2

"Many of the benefits of doing your banking online are obvious:

• You don't have to wait in line.

• You don't have to plan your day around the bank's hours.

• You can look at your balance whenever you want, not just when you get a statement.

• There are some hidden benefits too. As a young bank customer, you're just learning how to manage your money and observe your spending patterns.

• Online banking allows you to watch your money on a daily basis if you want to. By keeping close tabs on your funds, you'll always be aware of what's happening in your bank account.

"