So What Do you Think About Internet Banking?

The internet has soaked nearly every part of our life. Wherever you are at, as long as you have access to a computer or smartphone with an Internet connection, you can do just about anything you like, and of course including your banking transactions.

The Benefits of Internet Banking

Convenience is Key for Consumers

You have twenty-four-hour access for internet banking. When your local bank closes, you can still access your account and make transactions. It’s a very convenient alternative for those that can’t get to the bank during business hours due to work, health conditions or any other reasons, for example for stay home parents, internet banking would be much easier while looking after kids at the same time.
Tailwind Visual Marketing Suite
In addition, customers love friendly and helpful customer service, as well as free of charge from their banks. Online accounts are easy to set up and basically require zero information. Usually, many banks offer the option of filling up your details and submitting forms online. If you run into a problem, a friendly customer service representative will contact you to clarify for detailed information, that’s all!

Also, if you’re on holiday or a business trip, you can always keep an eye on your financials regardless of your location.

Better Rates

The reduction of overhead costs may allow the banks to pay higher interest rates on savings and charge lower mortgage and loan rates. Some accounts can be opened with no minimum deposits, annual fee waived and redraw options.

Online Service Tools

Internet banking offers online billing systems, financial planning online advisers, investment analysis functions and loan repayment calculators. They also offer no transaction fee on payments or transfers, such as pay someone options or BPAY.


Online banking now includes mobile capabilities. New applications can be easily set up, created to expand and improve this capability on smartphones and other tablets. And again, you can access from everywhere.

Most banks will have a mobile app that you can download from the app store. This makes internet banking more convenient and allows you to quickly check account balance while you are shopping or on the go, as well as transfer money to cover transactions you are currently making or spending. However, make sure you are accessing the application on a secure network and avoid using public WiFi while you are in the middle of transactions. Even if mobile banking makes internet banking easier, we still need to be aware of hackers or any suspicious activities which may spam your banking.

Additionally, many people stop receiving paper statements, but it is still important to check and balance your account in a regular based time frame so that it can prevent you from overdrawing your bank account. Big 4 banks like National Australia Bank and Commonwealth Bank have released advanced banking applications, which provide a syncing option and update the account balance when you access from either mobile or computer. If your bank is a small credit union, it may not offer the syncing function, but you can still update the accounts each day by logging in and generating accounts manually.

The Benefits of Traditional Banking

Even though we talk about internet banking is a good addition to the world of consumer banking, doesn’t necessarily mean that direct internet banking can be a substitute for the old traditional banking system.

Bank Relationship

A traditional bank provides customers with the opportunity to develop personal relationships. Getting to know the people at a local branch, which can be an advantage when you need a loan or a special service that is not normally offered to the public. Your personal banker will also get to know you and your unique needs. If you have a business account, this personal relationship may help if you need capital to expand.

Transaction Issues

Sometimes a face-to-face is easier to resolve some complex transactions or serious problems. A friendly banker can host meetings and call in experts to solve a specific issue for you if needed. Just remember internet banking may also have a website glitch sometimes.

Services Not Offered 

Internet banking may not offer all the exclusive financial deals to customers. Traditional banks may only offer special services to loyal customers, such as preferred fixed rates loans and free investment advice.


Protect Yourself Online

Internet banking is generally secure, however, make sure that the website you’re using a valid secured site, which means it is protected from hackers who steal your personal and financial information. It is important to be careful when banking online, what you don’t want is your safety or privacy to be breached. It is important to clear your cookies after every banking transaction regardless you are at home or outside. Additionally, you need to ensure that your password is unique, case sensitive and long enough to prevent you from being hacked. Do not give your online account information to someone who is not an authorised banker or signer on your account. Constantly monitor your account and check credit report regularly for fraudulent charges, follow the password guidelines, and consider updating the password on a regular basis.

All in all, internet banking does have both pros and cons. However, if you take a reasonable care to safeguard your personal and financial information, you’ll likely find the online banking is a convenient tool that you can easily live with. Eventually, you’ll probably even wonder how you ever lived without it, so in the meantime just relax and have fun with it!

53 thoughts on “So What Do you Think About Internet Banking?

  1. Greetings from Los angeles! I’m bored to death at
    work so I decided to check out your website on my iphone during lunch break.
    I love the knowledge you provide here and can’t wait to take a look when I get home.
    I’m surprised at how quick your blog loaded on my cell phone ..
    I’m not even using WIFI, just 3G .. Anyways, wonderful

  2. Great post. I used to be checking continuously this blog and I am inspired!
    Extremely useful information specifically the remaining
    phase 🙂 I handle such information much. I used to be seeking this certain information for a very lengthy time.
    Thanks and best of luck.

  3. What’s up i am kavin, its my first occasion to commenting anywhere, when i read
    this piece of writing i thought i could also make comment due to this brilliant article.

  4. An interesting discussion is worth comment. There’s no doubt that that you ought to write more on this subject, it might not be a taboo subject but generally people do not discuss such subjects. To the next! Kind regards!!|

  5. Howdy! This article could not be written much better! Looking through this article reminds me of my previous roommate! He continually kept preaching about this. I will forward this post to him. Pretty sure he’s going to have a good read. Many thanks for sharing!|

  6. Hello i am kavin, its my first occasion to commenting anyplace, when i read this post i thought i could also make comment due to this good piece of writing.|

  7. Wow that was unusual. I just wrote an incredibly long comment but
    after I clicked submit my comment didn’t appear.

    Grrrr… well I’m not writing all that over again. Anyways,
    just wanted to say excellent blog!

  8. After looking over a handful of the blog posts on your website, I really like your way of writing a blog. I bookmarked it to my bookmark site list and will be checking back in the near future. Take a look at my web site too and let me know your opinion.|

  9. An impressive share! I’ve just forwarded this onto a co-worker who had been conducting a little research on this. And he actually ordered me dinner simply because I discovered it for him… lol. So let me reword this…. Thank YOU for the meal!! But yeah, thanx for spending time to discuss this issue here on your internet site.|

  10. Wonderful items from you, man. I’ve take into account your stuff previous to and you’re just extremely great. I really like what you have acquired right here, really like what you’re saying and the way wherein you assert it. You are making it entertaining and you continue to take care of to stay it wise. I can’t wait to read much more from you. This is really a terrific website.|

  11. I like the valuable info you provide in your articles. I will bookmark your blog and check again here regularly. I am quite certain I will learn many new stuff right here! Best of luck for the next!|

  12. A fascinating discussion is worth comment. I believe that you need to write more about this topic, it may not be a taboo subject but generally people don’t speak about such topics. To the next! Best wishes!!|

  13. Hello, i feel that i noticed you visited my site so i got here to return the prefer?.I am attempting to in finding things to improve my site!I assume its adequate to make use of some of your ideas!!|

  14. I really love this work. Though I have been using mobile banking or internet banking but didn’t know it had these amazing benefits. Thanks for this post

Leave a Reply

Your email address will not be published. Required fields are marked *