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DIFFERENCE BETWEEN TRADITIONAL BANKING AND E-BANKING PRACTICES,BANKING AWARENESS

Basis Traditional Banking E- Banking Practices
Global Coverage Traditional Practice provides limited coverage. E-Banking Practices involve global coverage while sitting at home/office.
Marketing Tool Traditional Practice does not provide proper marketing tools. E-Banking provides the facility of marketing of products/ schemes online easily.
Prompt Services Traditional Practices involves process which requires more time. E-Banking same lot of line as there is no need to stand in long queues.
Reduction of errors/ Frauds Traditional banking practices do not provide a complete check on banking transactions. With the system of reconciliation of inter-branch transactions, frauds and errors could be reduced.
Paperwork Bank executives have to perform a lot of paperwork which increases both time and cost. Cost and time could be reduced or everything is to be through some interval and no need for huge paperwork.
Risk of carrying cash In the case of traditional business, a person has to carry cash at each point of time. E-banking provides banking without carrying cash as plastic money (ATMs, Credit cards are available)

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