E- Banking Simplified with a glimpse of If- 00
Jerry Cedicci, Robin Trehan
When it comes to the future of
banking, there is an assortment of predictions. The majority of individuals
envision consumers with imbedded chip implants. Consumers have the ability to
swipe with their hands or arms over a designated reader as they handle bank
transactions with these implants. This
is the new way of doing banking, as the ATM machine becomes a distant memory.
The customer simply walks into the store, swipes and views his balance
instantaneously. It is If-00 ( Internet Future- Millennium Technologies)
Several individuals believe the
paper dollar and coin will become extinct. Everything is expected to be
electronic in a society without paper.
E-banking allows bank customers to simply access banking information via
the access of the Internet. Whether home or in the workplace, customers can
access the banking information 24 hours a day, seven days a week.
Executed between two parties,
such as business to business or business to consumer, e-commerce is an
electronic financial business activity. E-banking, which is bank to business or
bank to consumer, has actually been around since the 1990s. The popular features
of e-banking are funds transfers, automatic payment options, electronic bill pay,
view account balances, account history accessibility and schedule future transfers.
Virtual banking is another
alternative to traditional banking. Virtual account customers do not have to
endure the inconvenience of stepping foot into a building or an actual
financial institution. Customers have the option of mailing their deposits or
even setting up direct deposit. E-bank
customers enjoy the advantages, such as 24-hour, seven days a week access to
their bank accounts. The passé method of standing in line and filling out
tedious paperwork seems like forever for many bank institutes. Bankers do not have to concern themselves
with the thankless task of speaking on telephones to a customer service
representative to find out banking history, wait for a bank statement in the
mail that could easily get lost and wind up in the possession of a prying
neighbor. A secure site is accessible to
the online banking consumer.
As in everything in life, there
are disadvantages. It can be arduous to navigate and learn online banking,
although many companies try very hard to utilize navigation around their site
user friendly. In addition, many
consumers are also concerned about viruses and privacy issues that can cause glitches
in the e-banking system, which can cause delays and mass confusion.
Nevertheless, there are constant
improvements in online banking, such as the bill pay option. This allows
customers to set up accounts online as they schedule their bills to be paid at
various times to different companies such as telephone companies, cable
television, insurance and mortgage payments. The funds come directly out of the
bank account and allocated to the company of choice.
The statistics do not lie as
there are more and more people who doing only e- banking. Look into www.ingdirect.com
and look at their rates,
it will amaze you and make your banking a novel experience. It is a
glimpse of Banking and Internet Future Millennium also named as
If 00
Jerry Cedicci and Robin Trehan can be reached
at contact@creditcapitalfunding.com
