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Banking
Asked a question 2 years ago

What are the benefits of E Banking?

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There are various benefits of e-banking

provided to customers which are:

(i) e-banking provides 24 hours,

365 days a year services to the

customers of the bank;

(ii) Customers can make some of the

permitted transactions from office

or house or while travelling via

mobile telephone;

(iii) It inculcates a sense of financial

discipline by recording each and

every transaction;

(iv) Greater customer satisfaction by

offering unlimited access to the

bank, not limited by the walls of the

branch and less risk and greater

security to the customer as they

can avoid travelling with cash.

The banks also stand to gain by

e-banking. The benefits are:

(i) e-banking provides competitive

advantage to the bank;

(ii) e-banking provides unlimited

network to the bank and is not

limited to the number of branches,

Any PC connected to a modem and

a telephone having an internet

connection can provide cash

withdrawl needs of the customer;

(iii) Load on branches can be

considerably reduced by

establishing centralised data base

and by taking over some of the accouing functions.