Do You Use Digital Banking?

[Suba]

Digital banking is certainly different from mobile banking, which is accessed solely through the internet, from account creation and transactions to account closure. Digital banking doesn't have a physical building like a conventional bank. Unlike mobile banking, which has a physical building and allows you to interact directly with the bank by visiting the nearest branch. Digital banking generally doesn't issue ATM cards, but rather Visa debit cards that can be used at any ATM near you.

 

[gwolf666]

The interesting thing about digital banking is that it has completely changed the way we understand the financial system. Many people still confuse Digital Banking with Mobile Banking, when in reality they are two different concepts. Digital banking is born completely online, without the need for a physical branch. That means everything, from opening an account to closing it, is done in the digital environment, without face -to -face procedures. Instead, mobile bank is usually an extension of a traditional bank, which does have branches and allows the client to choose between face -to -face care or use of its application.
Another point that differentiates digital banking is the way it emits its products. They generally do not focus on traditional debit cards associated with their own automatic ATMs, but on visa or mastercard cards that can be used in any global network. This gives a lot of flexibility to the user, especially those who travel or shop in line frequently.
However, there are also limitations. The lack of physical branches implies that all support must be resolved online or by phone, which is not always comfortable for all users. In my experience, digital banking is an excellent option for those who value speed, low commissions and accessibility, but those who still prefer personal treatment may find more security in traditional banking.

 

[Springtime]

Here, we call banks without physical branch virtual banks. Right now, they are not so popular here. Many people still prefer to use banks with a physical presence.

 

[Starmix]

I am not so sure of what the other people doing in my place regrading their preference in banking. In my case it's safer to transact what I used to be doing.

 

[eLdavis]

Yes i have some accounts with some digital banks, and their services are pretty fast, which is why i make use of them.

 

[neku]

Single investors who are not employees are often targeted for resume robbery, identity theft here, so it is not safe for them to use digital banking since well connected frauds are always impersonating them.

 

[Suba]

Single investors who are not employees are often targeted for resume robbery, identity theft here, so it is not safe for them to use digital banking since well connected frauds are always impersonating them.

If you live in my country, your money stored in a digital bank will be safe, even if the bank goes bankrupt or is liquidated, because your money is guaranteed by the government's Deposit Insurance Corporation. Hacking occurs due to your mistakes, whether in mobile banking or digital banking, such as installing malware from WhatsApp messages, giving out your PIN code to others, sharing your ID card on social media, etc.

 

[neku]

I do not use mobile or digital banking, yet I find that high status well connected frauds are falsely claiming to own my bank account to get great powers, monthly government salary for more than 15 years.

 

[Suba]

I do not use mobile or digital banking, yet I find that high status well connected frauds are falsely claiming to own my bank account to get great powers, monthly government salary for more than 15 years.

I can imagine how difficult life is in your country, there is a lot of fraud by government officials, the police do not take any action, in my country there are government officials who say that people are stupid, they are immediately attacked/demonstrated by the people, they immediately run away abroad, even dismissed from parliament.

 

[neku]

In this case the government officials faking bank account ownership and supporting the online fraudsters cannot be easily identified, since they are allegedly from security and intelligence agencies.

 

[Suba]

In this case the government officials faking bank account ownership and supporting the online fraudsters cannot be easily identified, since they are allegedly from security and intelligence agencies.

Indeed, for a skilled white hat hacker, tracing the tracks of bank account fraudsters would be quite easy, as these account transfers require the user's personal data. In the more difficult-to-trace world of crypto, the hackers could eventually be identified.