Advantages - Customer: Can view and print bank statements from online, access their accounts 24 hours a day, 7 days a week (24/7), Transactions are carried out quickly and very often immediately - you don't need to queue, Customers can access their account from virtually anywhere in the world, Disadvantages - Customer: No all customers have access to the internet, Some customers may not be confident in using ICT, Concerns about security and someone hacking the account, No face to face contact with staff which may be stressful for some people, If the website goes down, you will not be able to access your account, Advantages - Bank: Staff numbers can be reduced as customers manage their own bank accounts, Not as many branches are needed, reducing runnings costs for a business, Larger customer base as customers do not need to live near the branch, Disadvantages - Bank: If the website goes down, you will have to have a quick response to fixing it, You will need to employ and pay someone to maintain the website, Need to employ staff to deal with security issues, Features of Online Banking: Check balance, View or print statements, Pay bills, Set up seperate accounts such as a savings account, Transfer money to other people, Transfer money to other accounts that you have, Pay for goods using NFC,

Online Banking

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