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The Incredible Future Of Internet Banking

Sep 4, 2007
It is an old cliche to say that "time equals money," but like virtually all cliches, there is a significant grain of truth to the statement. To define the concept of time equaling money a step further, one could point to the reality that opportunity costs play a significant factor in the generation of prosperity and money.

From a definition that can be learned in any Economics 101 course, opportunity costs (on a very baseline level) refer to the fact that if a person does something specific, the time and money invested in such an activity result in the minimalizing of the ability to do something else with the same time and money.

In other words, no one can commit resources to two courses of action simultaneously without expanding the source (money) required to maintain a simultaneous venture. This is why it is important to drastically reduce unproductive downtime from a person's life and use the recaptured time for pursuits that will be productive. This is why internet banking is such an important concept.

While we would all love to live in a world where banking and the time required to make a banking transaction are greatly limited, we will never achieve such a goal unless we leave the confines of traditional banking and veer towards internet banking instead. When it comes to time costs, traveling to the bank, waiting in traffic, waiting in line, dealing with poor or limited customer service all add minutes to the time wasted in one's day.

This is to say nothing of the hassles involved with having to conduct all business within the framework of the hours of operation that the bank is open. Internet banking eliminates virtually all of these needless hassles.

With the convenience of internet banking, one can conduct most simple banking processes like withdrawals, transfers, checking one's balances, pay a loan or even make monetary deposits 24 hrs a day, 7 days a week, 365 days a year. Literally, internet banking is a world without limits! Well, of course, it does have certain limits as oftentimes a human element will be required under certain customer service conditions. But for many basic banking issues, internet banking will serve the banking public well.

Unfortunately, there will be those who have certain reservations against using internet banking services. The main reason for such reservations is an unnecessary desire to avoid dealing with something that is considered "new." While it is understandable that people will have reservations against taking the great leap into trying something new, it also must be understood that very little worth anything comes without taking a great step forward.

So, do not continue to do things the hard way. Embrace the ease of internet banking today.
About the Author
Craig Thornburrow is an acknowledged expert in his field. You can get more free advice on online banking and an online savings account at http://www.onlinebankingadvice.com
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