Mobile Banking or Old school Banking system which one is better? -
Mobile Banking or Old school Banking system which one is better?
Posted 23 Apr 2018 03:04 PM

I remember those days when I used to go with my mom to one of the Bank’s Brach nearby our home and we used to wait for hours to withdraw cash or doing any sort of banking activities like creating a Demand Draft, depositing a Cheque and many more. According to me, it was a tedious and time taking task that meant to waste the time of a Bank Account holder. Even now in some banks, the scenario hasn’t changed much we still have to wait for some services provided by the bank. But, at least now we don’t have to wait for a prolonged period of time due to the computerized system as it has made our lives much easier.
In the present time, we don’t have to visit the bank to deposit, transfer or doing any sort of banking as we have net banking facilities, there are many apps also that allow transferring funds without any charges like Phonepe, Paytm, BHIM, Tez etc. With the advantages of the technology, we have to face plenty of disadvantages as well. As there may be numerous chances of hacking, phishing etc.
A user should be extremely careful while performing a transaction online, even banks have started publishing Ads mentioning not to share your account details, debit card details and most importantly don’t share your OTP with anyone. If a user is smart enough in meeting these parameters than he/she can perform tasks relating to banking without any hassle.
In the earlier years, there were fewer chances of hacking, as at that time the information was just between the Bank and the customer whereas now the information is being shared by plenty of third-party apps which sometimes create problems for the user.
But everything in this universe has its own pros and cons. If things are done correctly and with caution then the technology will make our lives smoother rather than making it complicated.
Do share your opinions in the comment section which Banking system so you prefer the old school banking system or the Mobile Banking one?

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