Benefits of e-Banking

Benefits of e-Banking

There are various benefits of e-banking provided to customers, which are:

  • e-banking provides 24 hours. 365 days a year services to the customers of the bank;
  • Customers can make some of the permitted transactions from office or house or while travelling via mobile telephone;
  • It inculcates a sense of financial discipline by recording each and every transaction;
  • Greater customer satisfaction by offering unlimited access to the bank, riot 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:

  • e- banking provides competitive advantage to the bank;
  • 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 withdrawal needs of the customer;
  • Load on branches can be considerably reduced by establishing centralized data base and by taking over some of the accounting functions.