Opportunity to build a relationship developing trust and brand loyalty.
Transactions can be conducted there and then.
Additional services such as advice can be offered.
Gives the customer a high level of confidence
1 of 10
Disadvantages of Branch
Need to travel to a branch which is likely to incur travel costs.
Restricted to bank opening hours
May be long queues plus travel time, making the process time consuming
2 of 10
Advantages of Online Banking
Available 24/7
High degree of privacy
Convenient
3 of 10
Disadvantages of Online Banking
Takes time at the beginning to set up or apply for.
Not suitable for cash withdrawals.
Increased risk due to cyber crime
If just an online account, the facilities may be limited
4 of 10
Advantages of Telephone Banking
Convenient, especially to access basic functions such as checking a balance.
No additional charges
5 of 10
Disadvantages of Telephone Banking
Full access may be limited to set hours.
Call centres and automated telephone systems can frustrate customers.
Higher risk of fraud and identity theft
6 of 10
Advantages of Mobile Banking
Convenient
Available 24/7
No additional charges
7 of 10
Disadvantages of Mobile Banking
May need to download specific apps to access mobile banking for a particular bank.
Higher security risk due to increased risk of loss or theft of mobile devices.
Can be prone to hackers sending texts asking for bank details
8 of 10
Advantages of Postal Banking
Traditional method that many customers will feel comfortable with.
Doesn't require any additional technology or devices
9 of 10
Disadvantages of Postal Banking
Can be slow due to the postal system
Post can get lost
10 of 10
Other cards in this set
Card 2
Front
Disadvantages of Branch
Back
Need to travel to a branch which is likely to incur travel costs.
Restricted to bank opening hours
May be long queues plus travel time, making the process time consuming
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