Online banking is linking your bank account to online website or application developed by banks or other companies to provide you the banking services through internet. Online banking has many more features and advantages compared to offline banking such as online payment is available 24/7, time saving, easy to use and many more. Some of the advantages of online banking are given below-
1 Paying bills online-
The era of digitalization in India has started now day’s people can pay online by using different mobile application such as Google Pay, BHIM, BharatPe, Paytm and many more. And we are able to pay bills or doing any kind of transactions by using these applications and it is all possible because of Online banking if there was not online banking then these applications would not have existed or in use if online banking would not have started, also the people who do not have these applications can face some problem during paying bills such as standing in line for hours or giving extra money in the cyber café for payment.
2 Easy money transfer-
If you urgently need to send money to your client or your family member then instead of sending a cheque and waiting for it to clear or waiting for the banks to open and then transferring the money to them, you can transfer money easily and securely through online banking.
3 Easy to use-
Many people do not use online banking due to various reasons but one of the most common reason is they do not know how to transfer money online or they just do not know how to use online banking and because of not knowing or hesitation in learning from people, most of us do not use online banking and waste our time and energy standing in queue for hours. You should not hesitate while learning anything new, also the service of online banking is available 24 hours so instead of waiting for the next day when the banks will open, switch to online banking and make transactions any time.
4 Time saving-
The other advantage of online banking is it is time saving, for example you need to transfer money immediately to your client account but tomorrow is Sunday and after waiting for a whole day you go to bank on Monday and see there are a lot of people and the queue is very long and because of that you spent at least four hours of your day standing in the queue, so instead of waiting in lines you should switch to online banking or use the online services provided by your bank.
5 Secured-
The misconception about online banking not being safe is crashed by the banks by increasing the security of their websites or their application and constantly warning their customers about the scams and frauds.