The Question Man Has Pondered On Since The Beginning Of Time (High Street or Online?)

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Product:	High Street or Online?
Date:	07/07/02 (93 review reads)
Rating:

Advantages: See Op

Disadvantages: See Op

This opinion shall provide relevant comparisons between the benefits and downfalls of both banking methods. I hope that it shall aid you in your decision to choose which banking method you shall undertake.


Security of your account and your funds is without a doubt the most important thing to consider when choosing whether to use online banking as a pose to real-time. Of course, seeing your cash actually being placed inside your account and inside the actual bank building is very reassuring as you know for a fact that the money is there but with Online banking you are never sure until you finally see the increase in balance on your computer screen. The other security issue is robbery and theft of your savings. Although theft of banks is often associated with real-time banks as a pose to online banks, the truth is the both are as vulnerable as each other. A masked thief with a gun may break into a bank but a hacking expert with inside information may also sabotage an online account. The terrifying fact is that your savings are never 100% secure despite whichever method you use for banking.


Depositing and withdrawing money is something, which draws a line between the two methods. I believe that an actual real-time bank is the best for facility simply because like an online bank you can bank via post and telephone but in addition you can also visit the bank and be consulted on your account by an actual human being whereas online banks such as Egg.com rely on you sending an email and then having to await their advice.


Of course with this fact comes the question of convenience. In this section I will have to say that Online banking is the best because of the convenience factor of not having to drive all the way to the bank and then realising you've forgotten an important document in your haste. With online banking you are free to transfer money from your account to other accounts and thus organise your finances from the comfo
rt of your own house anytime you wish and you are not restricted by bank closing times.


In addition to this comes the consulting factor. Whereas it may be difficult for yourself and your partner to visit the bank at the same time to view the situation concerning your joint account, online this factor become very convenient because you can settle down one night and decide to fix you finances as you wish and in addition to this you can also take as long as you wish continually consulting with each other.


Both online banking and actual real-time banks both have perks because of their structure and the way that they have been set up. Both provide unique features for a range of customers that the other doesn't offer, so rather than saying that one is better that the other, I will just say to choose the on which is best for you.

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