what are the merits of E-banking
Answers
Answer:
The main advantages of electronic banking are: –
- The cost of operation per unit of services is lower for banks.
- Offers convenience to customers since they are not required to go to the bank's facilities.
- There is a very low incidence of errors.
- The customer can obtain funds at any time from ATMs.
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Answer:
The cost of operation per unit of services is lower for banks.
Offers convenience to customers since they are not required to go to the bank's facilities.
There is a very low incidence of errors.
The customer can obtain funds at any time from ATMs.
Pros and Cons of Online Banking
Advantages Disadvantages
It is fast and efficient. Funds get transferred from one account to the other very fast. You can also manage several accounts easily through internet banking. Your banking information may be spread out on several devices, making it more at risk.
E-money can be used anytime and anywhere. It is probably the best form of money to use for international transactions, as there are no hassles of currency exchange. It is reliable, faster than paper checks and drafts, and has low costs of transaction.
Explanation:
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