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Online Banking

In: Business and Management

Submitted By kellii44
Words 405
Pages 2
Business Management

Report on Online Banking for the Future
For this assignment, I chose to research the DCU bank. On their website, they provide a specific section for Businesses. In this section they provide online banking in the ”Free Business Banking" section. Here, they provide FREE online access, a FREE online bill payer. This was the first thing I saw when I signed onto their website. In another section of their website under 'customer service' there is a link labeled "online banking". Here, they explain how online banking gives people 'easy access' to their own accounts 24/7. You can deposit checks online, transfer money to different accounts, apply for loans and many other things as well.
Overall, I think that online banking is certainly a good thing for small business owners to manage their finances. With access to their accounts 24/7 it would make a lot of things easier.
Technology has made it easier for me to pay my bills. Rather than writing checks and sending them in a week before they are due I can just go online and pay them through my account. It is much easier. Also, it makes things easier when transferring money onto my debit card when making purchases- it saves me a trip from driving all the way to the bank to withdrawal. I think the same thing goes for business firms as well- they can probably deposit checks through their phones or over the internet as well.
In my opinion, I think that within the next 5 to ten years people won't even need to walk into a bank... technology would be able to do everything for them such as applying for auto loans, or loans on a house. I think that because of this a lot of bank employees will be put out of their jobs because people will be relying on online banking rather than walking into a bank and finding their needs through a bank teller. A lot of banks are not open during the weekend and evening hours-...

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