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e-Banking: Pros and Cons

What are the benefits and problems encountered in e-banking?

On the positive side, electronic banking is being able to use your web browser to access your bank accounts. In some cases you can use a PDA like a Palm Pilot or even a cell phone, and in some cases banks have special software you must use. These may require that you dial directly into the bank as well, instead of using the web, but use of the web for access is today's standard. Once online, you can check your account, and transfer funds which includes paying bills.

Potential problems, there are too many to count; user error, bad internet connections, access problems, security issues and more, but these are not necessarily common problems. These happen less and less as you would examine the industry as a whole and the benefits of banking online, electronically, outweigh the problems for most people. Ask friends who e-bank what they like and don't like. Many banks also have demonstration programs so you can see if you like what they offer.

Published on 6/07/07