Disadvantages of Online Banking
Challening for new users
People who used to go to the bank to finish their banking tasks might find it a bit difficult to use an online app. This is especially true with older people who are not used to using their phones, especially for this purpose.
Some consumers prefer in-person transactions with a banker since using electronic devices for the first time may provide difficulties that prevent transactions from being done.
Unsecure private information
While mbanking apps are getting more and more secure each day, we still know that the Internet is not the safest place on earth. Such accounts and the information held there are still vulnerable when it comes to hacking. That’s why they always advise you to use your own mobile data or WiFi instead of public WiFi networks to prevent unauthorized access.