What are the disadvantages of telephone banking?

Answer 1

1. The most common one would have to be the fact that not all banks andbuilding societies offer 24 hour telephone banking.

2. Telephone banking like online banking can seem impersonal, but likeonline banking, if you use it on conjunction with your regular bank accountit can be a useful tool

Answer 2

There are various disadvantages of telephone banking such as:

1. The system can be difficult to use i.e working through all those menus

2.Security- Mobile users are susceptible to a phishing like scam called smishing. This occurs when the mobile user gets a fake text message asking for account details.

Answer 3

The disadvantage I can think of with respect to internet or e-banking is the fact that, anyone who has the online banking credentials can access the account and make transactions. This way, if the actual customer lost the information or had it stolen, the thief can use it to take money from the customers account.

Nowadays banks offer one time pins and other authentication mechanisms to ensure that such incidents are minimized.

Answer 4

the petrol station will be poor