My Internet Banking Account

The theory that banking in Kenya has become easier and more flexible  becuase of Internet banking does not always hold water. Internet banking was introduced to remove people queues from the banking halls. With less people in the banking halls, banks would then reduce the staff compliment. A portion of these redeemed funds would be used in improving the bank’s technology like the internet banking. This has not always been the case.

What are the advantages of Internet Banking?

Internet banking is a facility that allows you to do your banking from the comfort of your home, office or when on holiday. Some of the services you can perform on your own include but are not limited to:

• You can transfer cash or funds from one of your accounts to another of your account, for example, from current account to savings account.
• You can transfer funds to someone else with an account in the same bank
• You can set up periodic transfers or payments for loans
• You can get you statements and view your transactions

How secure is internet banking

You most likely do not have any experience of fraudulent transactions in your account. The security systems for internet banking are set up in such a way that hackers can be identified quickly, if they ever get successful in accessing the system. If one is careless with their user and password, then their accounts can be accessed and they may have their money stolen.

In some instances one may be unable to transfer funds or work on the internet due to slow internet speeds or due to the host banks’ internet banking systems having a problem. This can be really frustrating, especially for people who do not have time to queue to have the transactions performed for them. That internet banking system can give a confirmation of the successful transaction but at the end of day process, the transaction will not be updated. It is therefore important to confirm the balances in your account the next day.

The best time to perform internet banking transactions is in the morning hours before the systems, both within the Bank and the internet provider are clogged up.

Where the bank is having a problem with the internet banking service, a message should be sent on the customer’s account to alert them and reduce the time wasted in trying to perform tasks that are going to fail. The bank workers should be aware of the problems, so that they can alert and assure customers that the Bank is trying to solve the problem. Often times, the bank workers are not even aware that there might be a problem especially in internet banking service.

The banks should allow the internet banking customers enjoy uninterrupted banking services from anywhere in the world and at anytime of the day or night.