Compare And Contrast Online Banking And Traditional Banking

Bill Gates, the co-founder of the most famous multinational technology company, Microsoft Cooperation along with Paul Allen once stated, "Banking is necessary, bank is not." (Filkorn, 2016). Nowadays banking is the most important thing that a person would do. It is dangerous to have so much money in your hands. It may lead you to be the victim of many crimes such as robbery and snatching bags. To prevent this from happening, people will save their money in the banks, but they will withdraw the money whenever they want to use it. Previously, people are not aware of the use of the internet, but now, everything can be done or solve by using the internet including the banking transactions. This kind of transactions is called online banking. Online

They may look similar in certain ways, but they still have the differences that make them different. But nowadays, people tend to choose online banking rather than the traditional banking as online banking is a really friendly and convenience banking process compared to the traditional banking. As now people are getting more and more busy, simple but effective thing will always be their choice in doing anything. That is another reason why the online banking becoming the perfect and popular choice for the people nowadays. Despite the increasing popularity of online banking, the traditional banking is still being used and traditional banking is still important as there are people who choose traditional banking over online banking. Even though online banking is an easy process of doing banking transactions, bank users still need to be aware of the danger that might come or affected you. Cyber-crime, like hacking and stealing others identity in order to gain benefits is the new type of crime done by the robbers. This type of crime is a lot easier as you only need to sit at one place and does not need to go through hardships to broke into someone's property in order to get valuable things such as money. With a single click, a robber can get money and do the crime, but with one single click too, a person can save his time, energy and ease him in doing his banking transactions. As stated before, online banking and traditional banking may have the similar name but there are many differences that differentiate