These days, I usually have cause to do transactions with people I don’t see or even know and I need to make payment for these transactions using internet banking. Imagine if there was no internet banking, I will need to go to the bank to make the transaction myself and that would have taken some of my time.
Internet banking also saves you time because you can do your transaction within minutes which is better than going to the bank as you might need to queue before entering the bank and also queue before doing your transaction.
I can remember there was a day I was on my way home and I saw something I have been waiting to buy, but I wasn’t on cash.
As I approached the seller, I was able to get a good price from him maybe because he was in a good mood and I knew I might not be able to get it at that same price when I come another day. So, what I had to do was ask him if he accepts bank transfer and he said yes. That was how I was able to purchase that item at a good price. All thanks to internet banking.
I’m aware that some people do not use internet banking because they feel it is prone to internet fraud. Well, I think offline banking is safer than internet banking but everything in this world have their advantages and disadvantages
We are going to be looking at some benefits of internet banking.
Benefits Of Internet Banking
One of the major benefits of internet banking is that it allows you transfer money from the comfort of your home or anywhere you are to anyone you want to.
A lot of people take advantage of this feature as they need to transfer funds to family, friends, business partners and others regularly.
Internet banking also make it easy to make payment for bills such as Cable TV, Internet bill, Airtime, electricity bill and many more.
Imagine your airtime finishes and you have to walk some distance before topping it up when you can actually top it up when you are on your bed.
Time is very precious and therefore should be used wisely. It’s better you do your transactions online as it saves your time and energy.
Going to the banking hall can be a waste of time sometimes because the bank workers need to attend to others and you need to wait till it gets to your turn.
Internet banking gives you the opportunity to go through your transaction history and for me this is an important feature.
Some banks also allow you print out your statement of account and this could be needed sometimes when you want to reconcile your account.
Disadvantages of Internet Banking
We will also be discussing about some Disadvantages of internet banking
One of the major concerns of internet banking is security. There are a lot of internet fraudsters out there and they are waiting to steal from people that do transactions online. Which is why you need to be careful when doing online transaction.
When doing online transaction, you should not share your password with anyone and make sure you use a secured connection.
Services are also limited on internet banking; there are some banking services that cannot be done on internet banking and you will need to get to the banking hall to do that. For instance, data capturing might need to be done in the banking hall so as to get accurate details.
Using internet banking depends on your access to internet connection. If there is no access to internet connection then you won’t be able to do your transactions.
Sometimes it just happens that you do not have access to internet due to the fault of the network provider.
Sometimes, the bank network can also be bad thereby not allowing you do your transactions online.
Types of internet banking
We have two types of internet banking which are personal internet banking and business internet banking
The personal internet banking is the online banking that is used by individuals and that is what is available for people that have savings or current account in their name.
While the business internet banking is the online banking available to companies, which enables them performs functions such as payroll management.
In this post I will be listing credible banks with reliable internet banking both for personal and business use.
Internet Banking Links (Personal and Business Banking)
First Bank of Nigeria Limited
Guarantee Trust Bank Plc
Access Bank Plc
Zenith Bank Plc
United Bank of Africa
First City Monument Bank Limited
Fidelity Bank Plc
Union Bank of Nigeria Plc
Citibank Nigeria Limited
Heritage Bank Plc
Polaris Bank Limited
Stanbic IBTC Bank Plc
Sterling Bank Plc
Unity bank Plc
Wema Bank Plc
You can now start to enjoy internet banking for both personal and business account by clicking on any of the above link to register. But first you to open an account with any of these banks.