QUESTION: What is eBanking? Without relating to any specific bank, How does it work? What are the advantages and disadvantages using ebanking?
ANSWER: There is no official definition of this term, but it generally implies a service that allows customers to use some form of computer to access account-specific information and possibly conduct transactions from a remote location - such as at home or at the workplace. The obvious advantage to the consumer is convenience--one bank recently used the advertising motto "bank naked" to emphasize the customer's freedom to conduct routine banking transactions from the comfort and security of his/her home 24X7.
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