Question

Write down any two demerits of e-banking?​

Answer 1

Technology and Service Interruptions

Anytime we use computers or internet service, we are at the mercy of the system's stability and efficiency. Your ability to access accounts online will naturally be affected if your internet service is running slowly or completely out for some time. Similarly, if the bank's servers go down or are temporarily unavailable due to scheduled site maintenance, you won't be able to gain online or mobile access to your banking information.

Security and Identity Theft Concerns

In general, online banking sites and mobile apps are designed to be secure and banks are continually putting updated security protocols in place. However, no system is completely foolproof and accounts can be hacked, resulting in identity theft via stolen login credentials. So while you can use mobile or online banking with general confidence, be careful to avoid using networks that are not secure and be careful to change passwords and protect your login information.

Answer 2

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Difficult for Beginners.

Trust and Responsibility.

Inconvenience.

Inability to Handle Complex Transactions.

Financial Jargon.

Security Issues.

Technology Issues.

Virtual Assistance.