The concept of PC Banking is very much similar to Internet banking. This article intends to provide you a brief overview regarding the same.
Advantages Of PC Banking
Following are some of the advantages of PC Banking:
o PC Banking allows you round-the-clock access.
o You do not need to stand in queue in order to perform important banking transactions. The PC Banking allows you to do just that right from the ultimate comfort and privacy of your homes.
o In comparison to the Internet banking system, the PC Banking provides you increased security.
o Since the level of security is much higher in PC Banking, you can access much more services than what you can through Internet banking.
o What is more, even the speed of the banking transactions is much faster than Internet banking.
o If you are using a personal financial management software and want the inputs from your checking, savings and money market accounts, PC Banking makes it possible for you to download the relevant data right into the software program.
o You can also check your balances and enjoy the convenience and power of electronic fund transfer. In fact, you can get all the advantages that Internet banking has to offer.
This way, we can say that PC Banking is just an advanced version of Internet banking.
Disadvantages Of PC Banking
Following are some of the drawbacks with PC Banking system.
o You can find the Internet banking facility with almost every bank, but PC Banking has yet not gained that much popularity.
o The biggest disadvantage of using this banking system is that it lacks personal interaction between you and bank.
o You need to install a specialist software program in your PC in order to use the PC Banking system.
o Unlike the 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 banks accounts only from the PC on which the required software has been installed.
o Deposit and withdrawal of cash is not possible through PC Banking system. You need to walk into the bank branch or ATMs for such transactions.
Technical Requirements for PC Banking
You need the following things to access PC Banking system.
o A personal computer with access to Internet
o Any of the specialist financial software programs, 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.