Online Banking

1. Online banking provides transaction receipts. True Online business banking is fully secure and fully functional. Many people are scared that their transactions will not go through or that something will go wrong when completing transactions on the Internet. However, individuals have the ability to print the transaction receipt to keep for personal financial records. 2. Online banking is an efficient way to handle your accounts. True Online business banking allows the consumer to efficiently access and manage all accounts from one site. With Internet access to financial accounts, consumers will no longer have to pay bills by mail. Most institutes provide a service where consumers can manage and pay all of bills electronically. This is a good way to save money on stamps by sending mail through the postal service. Also, this will help save time by allowing the individual to pay bills while using the Internet and not having the responsibility of going to the mail box or finding a location to mail bills or letters. 3. Online banking can even be accessed when an individual is out of town. True Business banking online is possible even if individuals are out of the country. Services like these never close. Unlike a typical financial institute, online services are open and available 24 hours a day, seven days a week. There may be times when services are temporarily unavailable for various maintenance issues. Much like more traditional financial companies, it is necessary for some routine maintenance and changes to occur to keep everything up to date and orderly. 4. A drawback to online banking is the time it takes for transactions to be posted. False Business banking online takes less time than a traditional bank. Online accounts are updated immediately when requested unlike traditional institutes that post within 2-3 days. Postings can be checked any time of day from the convenience of an office or home. 5. Using Internet financial services and programs can be a way to practice wise financial management. True Proverbs 27:23-24 - Be thou diligent to know the state of thy flocks, and look well to thy herds. For riches are not for ever: and doth the crown endure toevery generation? Business Quiz