Banking: Bank and Online Banking Essay

Submitted By soharboy
Words: 399
Pages: 2

Most people are very familiar with how a bank operates. The concept is very simple; you take your money to the bank and they will keep it safe for you and you can collect it later. There are other uses of a bank, such as loans and interest. But with nearly everything going digital, including money transfers, paychecks, bill payments and debit cards, cash is practically becoming obsolete. And while some might be slightly nervous to make the switch to an online-only bank, there are some terrific benefits to online banking. Some of the best online banking services are FlagStar Direct, iGoBanking and E-Trade.
You are probably very comfortable walking into your local bank and depositing a check or making a withdrawal. However, you are also probably very familiar with the lines associated with doing even the most basic tasks. And in order to get into the building, you’ll have to keep in mind all the federal holidays and other banking days when the bank won’t be open. And if you need to visit the bank past regular business hours, forget it, it’ll just have to wait until the next day. Traditional banking has some serious flaws in hours of operation and convenience, which is why online banking can be so appealing.
With online banking, you won’t ever have to worry about full access to your account. You’ll have quick and easy 24-hour access from anywhere in the world. The online bank won’t ever be closed for a holiday or for maintenance. You won’t ever have to rush over to the bank after work and