Online Banking

Question 1

What services can a bank provide customers via online banking?

Answer 1

Check account balance
View transactions
Pay bills online

Question 2

Advantages & disadvantages of online banking for customers

Answer 2

Available 24/7
Can be accessed from anywhere
Faster payment service

• May not have appropriate technology
• No face-to-face contact
• Personal details may be stolen

Question 3

Advantages & disadvantages for Banks

Answer 3

Fewer branches required
Customers increase

• Storing personal info means security required
• Security measures must constantly be updated