Question- Differentiate between e-banking and traditional banking.

Ans.

Difference between E-banking
and Traditional Banking

1. In traditional banking system, a customer can open any bank account in banks; take the facility of saving his money by depositing money in local bank. He can withdraw his money through cheque, counter payment and through bank draft. He can meet the bank manager and solve his problem. He can take the physical help for getting loan from bank. On the other hand, e-banking means internet banking or modern banking. In this method, customer gets his bank account ID and password and he can check his account, pay his bill and print his receipt through his home personal computer which is connected with Internet. E- banking is development of today banking system.

2. Traditional banking has totally improved from previous face. Traditional banking has improved and there is minimum chance of fraud. For example, now banks started installing surveillance cameras. Banks do not want to take risk of customer's money. Customer's loss is their loss. They deduct fraud cases by monitoring the activities through these surveillance cameras.

E-banking is convenient because we can use e-banking for tracking money in bank without going to bank. E-banking can also protect our environment. We can protect our environment by using e-banking. Just within 5 minute, we can transfer our money from one bank to other.

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