U3-Research Project: http://hubpages.com/hub/Online-Banking-10-disadvantages-you-must-know

The world has come from far and we are every day digging into the unknown, what was unthinkable then is now a practice. Today, you can bank right from the comfort of you home and multitudes of benefits come with it. However, though internet banking is such a good and desirable innocent, it has some disadvantages as listed;
Setting up an account may take time: In order to register for your bank's online program, you will probably have to provide ID and sign a form at a bank branch. Some banks even ask for photos
Legal issues: If you and your spouse wish to view and manage your assets together online, one of you may have to sign a durable power of attorney before the bank will display all of your holdings together.
Learning difficulties: Banking sites can be difficult to navigate at first. Getting acquitted with the banking sites software may require some time to read the tutorials in order to become comfortable in your virtual lobby.
Site changes and upgrades: Even the largest banks periodically upgrade their online programs, adding new features in unfamiliar places. In some cases, you may have to re-enter account information.
Customer service: There is no personal contact with any of the staff, and if talk to any staff through the telephone, you have guarantee you are talking to the best person available.
Internet account: You need to get an account with an Internet Service Provider (ISP) which may be another hectic experience
Security concern: Even though online banking sites are heavily encrypted, with the developing technology, it's hard to rule out the "hackers" who may access your bank accounts
Switching banks: This can be more cumbersome online than in person
Money usage: You can't spend your money from the online bank account as you wish, in the end; you will need to go to an ATM to withdraw money for usage.
Technical breakdowns: As with all technologies, online banking websites sometimes go down. If this happen when you closed your local bank or credit card accounts, you will definitely go penniless.
However, even though online banking has some disadvantages, the advantages with no doubt outweigh. It is there for important for every one to prepare for the unknown with an online bank account.

U3-Research Project: http://www.bankingguide.co.uk/online-banking/the-disadvantages-of-online-banking.php

The disadvantages of online banking

is online banking all its cracked up to be?
As I have already mentioned on this site I am pro online banking, however I am well aware that there are some disadvantages to doing out banking online. I will do my best to outline them here and at some point in the future I would like to study them in more detail.
Ok the biggest disadvantage of online banking is security, ok well its might not be a disadvantage, but its one of the main reasons that some people will never use it. People just either don't trust the banks, or have such a fear of people hacking into their back account and stealing their savings that they refuse to even try online banking.
To my knowledge online banking seems to be very very secure, and seems to become more secure as time goes on, some banks are now sending out devices that will generate a unique code when you login. This means that even if someone knows your login details, they cant login without this bit of kit, and with some of the devices you even need a pin number to use that. Now that might put your mind at rest it might not, but to be honest if you fear using online banking that much then my advice is dont. Its good, but its not worth using if you are going to spend all day worrying that people are going to steal your money while your at work or in bed. I would like to also mention that I have not heard of any major problems with the security of online banking.
I wont dwell on the security here as I plan to develop a whole section on online banking security and peoples fear of using technology. But I think its worth highlighting it as one of the major downfalls of online banking, but there is not much we can do about it really (other than not use it)
Ok so you have decided you are ok with using online banking and you are happy its secure so what are the other disadvantages? Well most of the disadvantages are not with the online banking itself, but with us as humans using a system which puts us in direct control of something as scary as our finances and our bank accounts. What do I mean by this, well lets say you have to send some money to someone for someone you have bought, you have their bank details, you enter the details, you enter the amount and click pay. Now its all done, or is it? Your mind starts asking did I enter the right account details, did I put in the right amount or did I put 1 zero too many on. So I would suppose that the disadvantage here is the fear of pressing the wrong button or entering the wrong information, again this is not a problem with the actual online banking, but with our use of it.
One major disadvantage is that some of the online banking systems are really badly designed, I used one last year which was really complex to use. And I have been using the internet for nearly 15 years and I still got stuck, to the point I had to call a helpline. Now I was going to name the bank here and now, however a friend of mine has assured me they have got their act together, so I will give them a new review before I post anything.
OK so the major problem with online banking seem to be seems to be human fear, fear of the site not being secure, fear of doing the wrong thing. Some banks handle this fear well, with having online banking systems that are well designed and easy to use (like Barclays Bank). Others don't handle this fear well and as a result will have fewer of their customers taking up their online banking.
OK so I have highlighted what I see the disadvantages of online banking are, I will soon be reviewing the security of online banking as this is what most people seem to fear, in the meantime you can Read about the benefits of online banking.

U3-Research Project: http://www.transactmoney.com/transaction-articles/internet-banking-services.htm

Advantages of Internet Banking Services

The advantages of Internet banking are obvious. Business people can access their personal and business account information while saving a trip to the bank. You can check your balance whenever you need to, even if the bank is closed.
Not only that, but you can pay your bills online as well, which saves both time and money on postage.
Another advantage of Internet banking is the ability to easily compare services offered by different banks. You can buy financial products and apply for loans online, and in doing so, you can compare your options to ensure that you get the best possible services. You can even buy insurance online through Internet banking services. Stocks and bonds and other investments can be managed with online banking from your home or office independent of a financial intermediary like a stockbroker.

Top Tips for Internet Banking

The number one tip for banking online is to be very aware of Internet banking security. Identity theft is a real and growing problem today. As such, you need to be highly protective of your personal account information whenever doing transactions online. Make sure you never give personal information out over the Internet unless you are connected to a secure site. Also, store your access information in a secure place. Routinely check your computer for spy ware and viruses, protecting your identity this way as well.
Anther important security feature you will want to make sure is in place with your online bank is encryption. Verify that the banking portal has high-end encryption software in place. If not, it might be advisable to choose a different banking option. You can verify this by looking for the graphic, which is usually located at the bottom right of the browser that signifies the encryption is in place.
Another tip about Internet banking is to remember that some procedures are still affected by the business hours of the bank. Even if you transfer a balance at 8:00 PM, it may not show up on your account until the next business day. Plan your transactions accordingly if you are working on a tight budget.
Use the Internet to shop for the best banking options. Check interest rates on loans and savings accounts online. The Internet can be a great tool in helping you secure the best possible banking services to meet your needs.
The history of Internet banking has come a long way over the last six years, and it is only going to get better! Get connected to Internet banking today. You can be in complete control of your finances with the click of a mouse!

U3-Research Project: http://www.buzzle.com/articles/advantages-and-disadvantages-of-online-banking-services.html

Advantages and Disadvantages of Online Banking Services

With the advent of the Internet and Internet-related services, technological conveniences and advances have somehow made their way into our daily lives and have now become a major part of us. So, it comes as no surprise to us that the banking industry has also developed into a major presence over the Internet as well. But just how safe is online banking? Will your money really be secure?
With the popularity of the Internet increasing steadily, most of the industries are finding new and interesting ways to make use of this new and equally interesting medium so as to keep up with the constantly changing preferences of clients all over. Nowadays, you can do almost anything over the Internet – from shopping for groceries to making a free call to a friend in New Zealand through your computer! Yes, the Internet has seemingly endless possibilities and the banking industry in turn has decided that it won't be left behind the rest of the pack.
While most of us have heard about online banking services, more than a majority of us have probably not even tried it out yet. It could possibly be because we are more comfortable working with real people; paper and money instead of its virtual counterpart, as performing transactions over the Internet can be very impersonal. Whatever may be the reason; there are a number of advantages and disadvantages to online banking services. This article will outline the good side as well as the bad side to online banking so that you can either feel that online banking is a safe way to manage your finances, or you could possibly be justified in your fears.
The Advantages of Online Banking
First lets start off with the advantages of online banking. First and foremost, online banking is very, very, very convenient. It will allow you to pay your bills and make transactions anytime during the day and the week. The bank will never close because you can access it through your laptop or computer. So, no matter in which country you are anywhere in the world, you can go online and handle your finances.
Secondly, online banking is very fast, effective and efficient. Over the Internet, you can make transactions that are typically executed and performed at a much faster pace than at ATM's. Online banking services also give you the option of handling several different bank accounts from one site itself.
Most online banking sites are compatible with programs like Microsoft Money and Quicken, which makes management of assets more effective.
The Disadvantages of Online Banking
Just like with anything else, there are disadvantages to online banking services too! The biggest problem is that most people lack trust. How many times have you performed transactions online and wondered whether you did the right thing? Of course, you can overcome any uneasiness by printing the transaction receipt. This receipt will conform whether or not your transaction has gone through successfully.
Online banking can be difficult to learn for a beginner and a site could take time to start up. Some sites ask for photo identification, which can be very inconvenient.
However, most online banking sites provide tutorials for online banking. Some sites provide live online customer support to provide solutions for any problems. The number of cases of banking frauds is considerably low so you don't have to worry about the safety of your money.
Clearly, the whole concept of online banking has its fair share of advantages as well as disadvantages. For some people, online banking simplifies life, while for the others it is intimidating and complex. Taking into consideration these perceptions, most banks have now started offering online banking services and a viable option to their clients.
Some people prefer talking personally to a person in case of a problem. They prefer the 'personal touch' aspect of customer service. If you are this kind of a person, then you'll probably never feel comfortable with Internet banking. On the other hand, if unlimited access to your bank accounts and convenience is highest on your list of banking priorities, then nothing can beat online banking. What with the security of the FDIC standing like a fortress behind them, it is very clear that online banking is here to stay.

U3-Research Project: http://www.articlealley.com/article_14427_15.html

The advantages of online banking

Going to a bank can take a lot of your time, considering the fact that banks have a fixed timetable and the most of the times you have to queue up because everybody seems to go there at the same time with you.
This is one of the reasons why more and more people get onto online banking. If you want to save more of your time as well as manage your finances in an easier way you should combine online banking with Microsoft Money 2004.
Here we would like to present you the advantages of using Money 2004 and online banking. And they are not just a few, if we take into consideration the fact that the number of people who use online banking has exponentially raised from 0.4 million to 17.2 million, according to Mintel survey.
And this happened because with online banking:
A lot of your time will be saved because you don't have to visit a bank and wait in a long queue;
Online banking is more accessible because it gives you the opportunity to check your bank account at a time and a place that is favorable to you;
No matter the place where you are, as long if you have Internet access, you can take care of your finances through online banking service;
Online banking involves no difficulties in carrying out financial transactions, which are safe and secure;
Almost every financial institution offers you the possibility to see your latest transactions, transfer money to people or institutions, pay checks, apply for loans and arrange or change standing orders and direct debits.
At all these advantages of online banking, add the power of Money 2004, which provides you a range of instruments meant to help you control your finances. To simplify the process even more, you will receive a complete manual that guides you through the entire process of online banking step by step.
Money 2004 helps you in many ways to manage your capital online. Using online banking and Money 2004 you are able to get a financial SNAPSHOT of your bank and building society and savings. Also you can download online statements from your financial institution to your computer, find out which dealings have been carried out as soon as they were passed over successfully. Furthermore, online banking and Money 2004 allow you to double-check your entries automatically.
These are some of the reasons why you should get started with online banking. You can only win!