Despite the numerous advantages of e-banking, there are also some limitations to consider, including:
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Technical Issues: E-banking relies on technology, and technical issues such as system failures, internet connectivity problems, and software bugs can occur, disrupting the e-banking service.
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Security Risks: While e-banking has advanced security measures, it is not immune to security risks such as hacking, identity theft, and fraud. Customers must take necessary precautions to protect their accounts, and banks must implement strong security measures to protect their customers’ information.
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Limited Accessibility: E-banking requires access to a computer or mobile device with an internet connection, which may be a limitation for customers who do not have access to these resources.
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Lack of Personal Interaction: E-banking does not offer the same level of personal interaction as traditional banking, which some customers may find limiting or unsatisfactory.
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Dependency on Technology: E-banking is heavily reliant on technology, and a failure in the technology infrastructure could disrupt the banking system and cause financial losses for customers.
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Transaction Limits: Some e-banking services may have transaction limits, which can be a limitation for customers who need to perform large transactions.
Overall, while e-banking offers many advantages, it is essential to consider the limitations and potential risks before using these services. Customers should carefully evaluate their options and choose the e-banking service that best meets their needs and requirements.
