Money and banking
Home banking
The impact of ICT on home banking if the user has the internet access and computer at home he can get a password card and code from the bank and then access to his banking account using computer with out going to the bank and ask for statement, the user also are available to see his savings, loans, debits, balance . Also the user can see from where the money comes into the account and where the money does goes to.
The disadvantage of Home Banking is that a lot of people uses online to check their banking details rather going to the bank , a lot of bank branches closing down and this can be the reason why as a lot of bank staff don’t have much work to do and don’t get paid much because not a lot of work.
The disadvantage of Home Banking is that a lot of people uses online to check their banking details rather going to the bank , a lot of bank branches closing down and this can be the reason why as a lot of bank staff don’t have much work to do and don’t get paid much because not a lot of work.
Cheque processing
The impact of ICT on Cheque processing is that cheques can be scanned to the computer or scanning machine, the account Numbers read (MICR) just to indentify the account
Smart cards:
The Impact of ICT on the Smart cards that smart cards has chip and pin which holds the data on the small silicon chip rather than magnetic stripe, the customer can easily enter the pin code and they don’t need to sign the receipts anymore
The Impact of ICT on the Smart cards that smart cards has chip and pin which holds the data on the small silicon chip rather than magnetic stripe, the customer can easily enter the pin code and they don’t need to sign the receipts anymore
Credit/debit cards:
The impact of ICT for the debit and credit cards is that debit/credit cards has the black stripe which holds the card details which can be read and saw when the card is being swiped in the banking machine.
Cash machines:
The impact of ICT for the cash machines which are call automated teller machine (ATM) is that allows people to access to their bank account when the card is being inserted into the ATM , also the ATM most often is being based in the walls which most often being found near the shops and banking buildings.
EFT:
the impact of ICT for the EFT is that credit/debit card details can be send for authorizations which can be send from the retailers or from the automated teller machine (ATM)
the impact of ICT for the EFT is that credit/debit card details can be send for authorizations which can be send from the retailers or from the automated teller machine (ATM)
Automated Payments:
The impact of ICT for automated payments is that automated payments is being send automatically straight into the bank account for e.g. EMA ( educational allowance ) , credits, debits or loans can be send to straight to the bank account automatically etc.
The impact of ICT for automated payments is that automated payments is being send automatically straight into the bank account for e.g. EMA ( educational allowance ) , credits, debits or loans can be send to straight to the bank account automatically etc.
The impact of ICT has some disadvantages on Money and banking because I have found out about one of the banks in Northern Ireland (Ulster bank) that their banking system got crash and the people who is using that bank got affected because they couldn’t receive money into their accounts such as from pensions, EMA, child benefits for almost 4 weeks. Also some people lost their money which was inside their banking account.
also in the news paper I have found some other disadvantage about impact ICT is that 3 Northern Ireland bank branches is closing down in May because not a lot of people using the bank branches anymore and the workers are losing their jobs because many people these days use internet to check the money, transfer the money etc.
also in the news paper I have found some other disadvantage about impact ICT is that 3 Northern Ireland bank branches is closing down in May because not a lot of people using the bank branches anymore and the workers are losing their jobs because many people these days use internet to check the money, transfer the money etc.
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