Internet connection is the main factor why personal internet banking provides convenience to user’s on online banking at the comfort of any location ,at any time of the day. It is best used by individuals who are busy to attend to their banking activities personally and to those who are always travelling to different locations. Personal internet banking begins by being educated on what are the services the online banking gives to their customers. Most of the time, banks offer online banking for free if the customer already has a savings or a current account with them. Provided that the customers are knowledgeable about the internet, all the services they offer online would be a breeze to handle. The important factor that personal internet banking provides is that it is available twenty four/seven at any location just as long as there is internet connection. The processing time for banking transactions made in online banking are in real time or the following working day, that is why it is very efficient.
Security is always the main concern for users in using personal internet banking. Due to the increase in numbers of online banking users, fraudulent offenders are also on the rise to commit illegal ways to steal funds from internet bank accounts. Some offenders uses spam mail that would ask the client vital information that could be used in hacking their online account. Some even imbed illegal programs to the user’s personal computer, not knowing that their keyboard activities are being recorded. That is why it is important to be proactive in ensuring that important information that could be used to openthe online account should not be shared to a third party. It would be of great help to use antivirus that detect any that hackers can infiltrate the account. It is the bank’s responsibility to ensure the account is safe by providing countermeasures.
Furthermore, personal online banking has made its grounds in the mobile phone industry and banking activities such as monitoring account balances and transferring funds to family and friends can be done using a mobile phone. The clients would also get notifications via email or text message to help them monitor their banking transactions.