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What are the pros and cons of online banking?
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Pros of online banking:
 • Convenience and accessibility
 • users can manage their financial accounts at anytime, from anywhere
 • Cost savings
 • banks can offer lower fees and better exchange rates than traditional banking methods
 • Faster payment processing
 • transactions can be completed instantly, without waiting for traditional methods such as checks and transfers
 • Increased protection
 • online banking is generally more secure than traditional banking methods, due to multiple layers of authentication and encryption that protect users' accounts2

Cons of online banking:
 • Security risks
 • malicious hackers can intercept users' financial information if not properly protected
 • Potential connectivity issues
 • slow internet speeds or service outages can interrupt banking service
 • Limited customer service
 • in some cases, support is limited or nonexistent, leaving customers without assistance in the event of an issue
 • Lack of physical contact
 • without being able to speak directly with a representative, customers may be limited in their ability to ask questions or resolve problems.