The concept of PC banking is very similar to internet banking. This article intends to provide you a brief overview regarding the same.
Benefits of PC Banking
Following are some of the benefits of PC Banking:
o PC Banking gives you round the clock access.
o You do not need to stand in queues to do important banking transactions. PC Banking allows you to do exactly that from the ultimate comfort and privacy of your homes.
0 Compared to Internet Banking System, PC Banking gives you more security.
0 Since the level of security in PC banking is very high, you can access more services than you can through Internet banking.
o What’s more, even banking transaction speed is much faster than internet banking.
If you are using a personal financial management software and want input from your checking, savings and money market accounts, PC Banking makes it possible for you to download relevant data directly into the software program.
o You can also check your balance and enjoy the convenience and power of electronic funds transfers. In fact, you can get all the benefits that internet banking has to offer.
Thus, we can say that PC Banking is an advanced version of Internet Banking.
Disadvantages of PC Banking
Following are some of the disadvantages of PC banking system.
o You can get the facility of internet banking in almost every bank, but PC banking has not gained that much popularity yet.
o The biggest disadvantage of using this banking system is the lack of personal contact between you and the bank.
You need to install a specialist software program in your PC in order to use the PC Banking system.
Unlike Internet banking, where you can access your bank account from any PC with an Internet connection, the PC banking system allows you to access your bank accounts only from a PC that has the necessary software installed on it.
0 It is not possible to deposit and withdraw cash through PC banking system. For such transactions, you have to visit the bank branch or ATM.
Technical Requirements for PC Banking
You need the following things to access the PC Banking system.
o A personal computer with access to the Internet
o Any specialized financial software program, including Quicken®: version 2005 or later, QuickBooks®: version 2005 or later, and Microsoft Money®: version 2005 or later. These are some of the specialized software programs that work with PC Banking.
