I am going to be tell you about online banking. Online banking services allow you to do many of the same things you would do in a bank, all from the privacy of your home computer. When having an online bank account you have have multiple accounts, such as checking account and savings account. This way you can transfer money into which ever bank account you want. Most people now-a-days like using online banking because it gives them the ability to receive and pay bills electronically.
Virtual bank is only accessible online or over the phone. You can use virtual bank’s website to handle many common banking tasks, just as you can with the website of a traditional bank. There are several pros and cons of using an online bank. Pros are paying bills, like I said earlier it is very easy to pay your bills. Also it is a simple set up and use, all you need to do is set up the account and a few clicks away you have a new online banking.
Online banks can be accessed 24 hours unlike usual banks. There are some cons that come with online banking such as security. Security is a big issue people have because there are computer hackers and identity theft. Nothing can stop these people that are doing these types of things. Also there is no ATM online bankers can go to without having a transaction fee. This means that every time online bankers want to use an ATM to get money out they are charged a $3 fee to their account because they done use the banks that the ATM machine requires. Finally there are some pros and cons of online banking.