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Internet banking Vs traditional banking – Best Banking

Traditional Banking vs Internet Banking

There are lots of difference between internet banking and traditional banking based on the following factors,

  • Presence
  • Time
  • Accessibility
  • Security
  • Finance control
  • Expensive
  • Cost
  • Customer service
  • Contact

The term Traditional Banking and Internet banking itself shows us how much banking has changed over the decades it may seem like a fast growth but in reality, it is not actually.

Because everything in this world takes its own time and the process of transformation for traditional banking to become a internet banking has also taken its own time.

So now the question is which is the best one Traditional Banking or Internet banking, we can also consider the internet banking as the modern-day banking because it definitely falls out under this category only.

Every banking has its own advantages and disadvantages, let’s take traditional banking during these times there were no problems of getting your money stolen during the online transaction.

In Internet banking, you don’t need to stand in a long queue for sending money to anyone.

Let’s dig in deep into this topic.

Traditional banking

Presence

Traditional banking exist as physically for the benefits of customer

Time

This consumes more time as the customer wants to visit the bank for various transactions like checking balance, transferring etc

Accessibility

The customers should visit the bank during the working hours

Security

This bank does not encounter security threats

Check our Guide on transferring money without online banking

Finance control

The customers who travel abroad can’t access this bank from their preferred locations

Expensive

Customers should spend money to visit the bank from long locations

Cost

This cost includes a lot of operating and a fixed payment

Read our guide on Best Savings bank in US

Customer service

The bank staffs can attend the limited employees at a time

Contact

Customer should do face to face contact with the bank

Internet banking

Presence

They do not any physical presence

Time

This does not need customer time to come and directly visit the bank. They can access all the details through online banking

Accessibility

This provides 24 hours of banking service

Security

This is one of the problems that is faced by customers. The hackers can access their account

Finance control

The customers who travel abroad can easily access the account

Expensive

The customers do not have to spend money

Cost

The bank does not need any physical cost

Customer service

They do not need to wait for queues to carry out the bank details.

Conclusion

So here is what our result is, whether it is traditional banking or internet banking everything has its own advantages and disadvantages so we suggest you to go with the Internet Banking because it is common that has been done nowadays.

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