Nowadays, almost every banking transaction---that once had to be done in person---can be done over the Internet. Despite the advantages of online banking, such as saving trips to a local bank and avoiding long lines, a considerable number of people still prefer the more traditional form of banking in person. Often, the reasons stem from disadvantages that are incurred when banking online.

Nowadays, almost every banking transaction---that once had to be done in person---can be done over the Internet. Despite the advantages of online banking, such as saving trips to a local bank and avoiding long lines, a considerable number of people still prefer the more traditional form of banking in person. Often, the reasons stem from disadvantages that are incurred when banking online.

Internet Connection

Not everyone enjoys the luxury of having a stable and fast Internet connection at home. Aside from having a personal computer or laptop, having stable Internet access at home is a basic prerequisite to performing electronic banking. Of course, people can always use a public computer with Internet access; however, the security of public computers is always a concern.

Computer Know-How

Conducting a successful electronic banking transaction, like paying bills online, requires basic computer skills and knowing your way around the Internet. Being computer-literate is not common to everyone---especially seniors who might not have grown up using computers---and this is a major disadvantage to electronic banking.

Delayed Statements

When performing online banking there is not a standard at which payments made will show up on your online bank statements; they might show up two to three days later, depending upon the bank. When banking in person, you can generally get the exact status of your bank account.

Security Concerns

One of the biggest disadvantages of doing electronic banking is the question of security. With the prevalence of keyloggers, phishing emails, trojans and other online threats, it is natural for people to be concerned with the security of their identity, funds and electronic banking transactions. Using antivirus and similar programs is not full-proof. People worry that their bank accounts can be hacked and accessed without their knowledge or that the funds they transfer may not reach the intended recipients. Although it is rare nowadays with enhanced security measures, these threats still exist.

Loss of Human Touch

Some people still value talking and interacting with bank tellers, managers and other bank clients. Electronic banking takes the majority of these "human interactions" away, leaving the banking experience as a very hands-off, impersonal process.