Computer Banking – Get your bank at your doorstep
The concept of PC banking is very similar to internet banking. This article aims to provide you with a brief overview regarding the same.
Advantages of computer banking
Following are some of the advantages of PC banking:
o PC banking allows you 24/7 access.
o No need to stand in a queue to make important banking transactions. PC banking allows you to do just that from the maximum comfort and privacy of your homes.
o Compared to the internet banking system, PC banking provides you with increased security.
o As the level of security is much higher in computer banking, you can access many more services than you can through internet banking.
o What’s more, even the speed of bank transactions is much faster than internet banking.
o If you use personal financial management software and want the input data from your checking, savings, and money market accounts, PC Banking allows you to pull the relevant data right into the software program.
o You can also check your balances and enjoy the convenience and power of electronic funds transfer. In fact, you can get all the benefits that internet banking has to offer.
Thus, we can say that PC banking is simply an extended version of Internet banking.
Disadvantages of computerized banking
Following are some of the disadvantages of computer banking system.
o You can find internet banking facility in almost every bank, but PC banking has not gained much popularity yet.
o The biggest disadvantage of using this banking system is that there is no personal interaction between you and the bank.
o You must install a specialized software program on your computer to use the PC Banking system.
o Unlike internet banking, where you can access your bank account from any computer with an internet connection, the PC Banking system allows you to access your bank accounts only from the computer on which the necessary software is installed.
o Cash deposits and withdrawals are not possible through the PC Banking system. You must log into the bank branch or ATMs for such transactions.
Technical requirements for computer banking
You need the following to access the PC Banking system.
o Personal computer with Internet access
o Any specialized financial software program, including Quicken®: version 2005 or later, QuickBooks®: version 2005 or later, and Microsoft Money®: version 2005 or later. These are some of the specialized software programs that work with PC Banking.
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