Banks offers free internet banking to their clients to make banking transactions more convenient for them. Most of these banks offer free internet banking that enables anyone to view their statement of accounts and manage their finances with just a click of a mouse. Some of the services free internet banking provides are bills payments, appying for a savings or credits account and fund transferring.
The most important advantage of free internet banking is that it is convenient for the bank’s clients. Instead of personally going to the bank, with just internet access at any location, he or she can access the account; view deposits and withdrawals made. Keeping track of scheduled payments would be a breeze and can even be printed for a hard copy. When financial problems arise to a traveling client of the bank, he or she can simply log on to the account and take care of it at any time of the day. Transaction speed is very impressive when it come to internet banking because most of the services provided are processed at real time.
Besides having a great deal of advantages, internet banking also raises important concerns to the customers. One of the biggest concern is the difficulty of relying on how secure would the account be. Because of the increasing number of fraudulent activities over the internet, many are worrying that their bank account would get hacked and their finances get stolen. Another concern is that other services are not available on free internet banking and should be done at the branch of the bank. Because of security purposes, an example of this is depositing of checks which should be done at the bank.
Using online banking tools needs basic knowledge on using the internet, which is also another concern. Some people, most especially the elderly are having a problem in familiarizing navigating the internet. It is crucial not to click spam links from the email to ensure that the account information would not be compromised by fraudulent hackers in the internet.