Banking means businesses conducted or services offered by the bank. Young adults and adults alike will have to do banking every now and then to manage their financial expenses. However, in this day and age, it can be such a hassle to have to deal with financial expenses physically in the bank. To have to queue in a long line, with only one or two counters open can be draining for anyone trying to do banking. Therefore, these days most people prefer to switch to internet banking Malaysia for convenience.
What is internet banking?
Internet banking, or in other terms online banking, is an electronic payment system that provides a platform for a customer of the bank, or a financial institution, to manage and monitor their financial and non-financial expenses. Internet banking covers most banking services, however, there are a few services that still require one to visit the bank.
How does one use internet banking?
One can only access internet banking when one is registered to it and has an active bank account, or any financial institution. Usually, registration for internet banking will be done at the bank once one finally decides to open a bank account for financial expenses. Once one is registered for internet banking, then a trip to the bank will reduce to less frequent visits to none as most banking services can be easily done virtually.
Why should one consider registering for internet banking?
Being able to manage, monitor and save virtually are some of the perks of living in this digital era. With cashless payment being the trend, it is understandable why most people would opt to switch to internet banking.
Internet banking is convenient
Who doesn’t want to do work in a convenient manner? No more queueing up in long queues, and no more walking or driving such a distance to visit a bank branch to have to manage and deal with one’s financial expenses. As they said, everything is at the tip of our fingers, thanks to the existence of the internet and the word wide web. With internet banking, one can easily access one’s bank account through electrical devices like PC, laptops, tablets and smartphones.
Online payments are trending
Even before the pandemic in 2020, online payment has always been a thing, but most people back then still prefer to deal with their financial expenses the conventional way. Now, as many companies prefer contactless cash and payments, most bills can be paid online such as domestic bills like electric and water bills, and rent can be paid online too for those who are renting, as well as paying one’s telco bills.
Transfer between accounts made easy
With internet banking, one can transfer funds easily without the need to go to a nearby ATM/CDM machine to do so. Usually, funds transfer within the same bank will be done within the same day. However, if one is transferring funds to other banks, it will normally take up to 3 days for the funds to be fully transferred to the receiver’s account. As aforementioned, banking services such as funds transfer can easily be done virtually today.