List the advantages and disadvantages of online banking.
Ask the Guides to think about the possible advantages and disadvantages of online banking.
Have a discussion about the information that is stored by a website that allows a person to log in to online banking, both via the website or via an app.
• Ability to check balance from home before making a purchase
• Ability to transfer money between accounts
• Access to bank statements
• Stopping payments
• Viewing pending transactions
• Fast and efficient
• Control over your own finances
• Easy to use
• Security concerns – chance of account being accessed by others (hacking)
• Password must be secure
• Cannot be accessed if the site is undergoing maintenance
• Requires an internet connection
• Customer service can be less accessible