What is e-banking ? What are the advantages of e-banking?
Answers
A method of banking in which the customer conducts transactions electronically via the internet.
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.
Qᴜᴇꜱᴛɪᴏɴ :
What is e-banking ? What are the advantages of e-banking?
ᴀɴꜱᴡᴇʀ :
What is e-banking ?
➣ Electronic banking, Use of computers and telecommunications to enable banking transactions to be done by telephone or computer rather than through human interaction. Its features include electronic funds transfer for retail purchases, automatic teller machines (ATMs), and automatic payroll deposits and bill payments.
What are the advantages of e-banking?
➣ 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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