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Internet Banking - Advantages and Disadvantages NetBanking

Internet Banking - Check out Advantages and disadvantages of Internet for NetBanking. Also known as Internet Banking, So let us find out points on advantages as well as disadvantages of the internet which are as follows.

Some Advantages of Internet Banking are:

  1. Internet banking is 24 hours a day and 7 days a week. One can send money any time.
  2. Payment of bills or ticket booking is easy with online banking or net banking.
  3. With Internet banking Fund transfer, loan application can be done within seconds.
  4. One can update contact information as well as can check online statement with NetBanking.
  5. One can check balance and online transactions any time , no need to visit bank.

Some Disadvantages of Internet Banking are:

  1. Internet connection is required for NetBanking.
  2. If bank's server is down or internet speed is slow then online transaction is not possible.
  3. One can misuse your account if your password or Pin Id. comes in hand of an unauthorized person.
  4. Basic knowledge of computer and Internet is must in order to use Internet Banking.

These are some of the advantages and disadvantages of an Internet for NetBanking or Online Banking

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Prospective process validation

Retrospective process validation

Concurrent process validation

Revalidation

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Retrospective process validation: "Documented evidence - Validation carried out based on the analysis and review of the historical data"

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