Prowriters hub week 004|Technology in our lives - banking services enhanced by modern technology by @emmanu
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Hello steemians,
I welcome you all to my second entry of this week prowriters hub contest and in this article I will be writing the on the ninth topic which is:
Technology in our lives -How banking services has been enhanced by modern technology
Modern technology has really improved our banking services and has helped everyone both young and old people to save money without stress and also has reduce the way thiefs steal money since no one walks around with there money.
How people save money before the invention of banking technology
During the olden day people usually saves money by burying there money other ground. They will dig a hoe put there money and cover it and this money that is been buried might spoil if the money is been saved there for a longer period of time.
Before the invention of banking technology, In order to save money people usually exchange there money with assets worth there money and when they are in need of the money they will as well set the asset.
In the olden days people usually save money inside mattress that is there house and there money tends to be unsecured because they can be rubbed easily
In the olden days people usually save there money in can, envelopes and even in an empty drum and lock it with a padlock.
Banking services brought by technology
Banking services has really improved from and today people can now save there money in the bank easily and can even withdraw it anytime any day. Banking services has being made easy through technology,now let's see some things that technology has brought that made banking services so easy
Automated Teller machine: This is an Automated machine that is normally outside the bank that can help people withdraw, transfer and even check there balance without going inside the bank. Going inside the bank to do all this thing is really stressful but with the help of the Automated teller machine people can now do so many transaction without stressing themselves and the bank officials.
POS machine:This is also another banking tools that is used by bank agents outside/far from the bank. This machine also helps account owners to withdraw and deposit money into there account. In the ATM there is always
long queue and before you get to your turn you must have waited and wasted time but with the help of the POS machine you can now withdraw your money close to your house without much time.Mobile banking:This is the most amazing amongst all and it helps to do some of the transactions done in the ATM with our phone. We can use our mobile banking app to transfer,buy airtime,fund our betting wallet while in our houses but we can not withdraw and also deposit money to our accounts through it.
Disadvantage of modern Banking services
It is said that any thing that has an advantage also have a disadvantage and modern Banking has disadvantages too and here are some
- Lost Funds:In this modern Banking services people easily lost there money. When you mistakenly transfer to another person's account it can not be refunded.
Conclusion
Technology has really brought many impacts to human life. I am really satisfied with my bank service because if I am not satisfied with there services I would have stopped banking with them since. Modern Banking has really helped people to save there money and keep them away from thieves.
My regards;
@emmanu
Totally agree with you when it comes to banking services, modern technology has really improved our banking services and has helped everyone both young and old. For example, the ATM has made it easier for people to withdraw money when they need it. They can also deposit money and transfer funds without having to visit a bank. There are a lot of apps that make it easy to get a loan and save money.
Yes, technology has really done so many things and it's still doing more, technology has reduced stress for bank officials and even bank account owners
Yeah now every bank user have complete hold on his account he can send money to anyone from home he no needs to visit his bank branch or he can also check Balance by internet banking
Agreed POS machine is really helpful as well as with the invention of ATMs, people can now deposit or withdraw money with the touch of a button. And with online banking, people can now open a bank account with just their personal information.
People can now open account while in there house with there Bank Verification Number and other personal information that are requested by the banks
No doubt even if you need a bank representative contact you if you have any problems related to account opening you have to do nothing if you are busy in your life routine and also you can open new account from your mobile phone in a minutes i think this is the real invention
Yes exactly the invention of modern technology in banking is very good. It has been able to help people with a lot of things. For example, it has helped people who are going on vacation get all their money out of the bank and put it into their own account
The modern Banking is really fast and reliable that one can take there money anytime, anyday and also deposit without stress
Thanks for reading and engaging
Yess brother it is very easy in this modern era to get withdraw from bank or deposit in your account you can also send money from your home from internet banking you can pay your bill from home through internet banking this is big change in the field of banking thanks for commenting
Upvoted! Thank you for supporting witness @jswit.
Yes @emmanu,the invention of modern technology in banking is very good as it has provided this very nice machine that you have just added to your post as it helps in the withdrawal of money more faster and reliable.
The invention of modern technology in banking is very good because it has made the process of banking easier and more convenient. Now, instead of having to go to a bank branch and wait in line, people can go online and make their transactions.
That's true,banks are no longer crowded and there is no much queue in the ATM because of technology
Yes their is many advantages of technology in banking field but there is also many disadvantages because if any get your otp so he can easily steal your money from your account
Exactly , modern technology now ease up the customer stress for getting to go queue in banking hall , just to transfer funds to beneficiary account.
Technology has made bank system so easy an interesting that we can even stay in our various houses and do so many transaction
Thanks for reading and engaging
You have done well to juxtapose the traditional means of saving to the bank system. The traditional method leads to loss of money via stealing since the money is hidden under carpet, in a wooden safe, or even buried in the ground.
In this modern days, banks have made it safer, made transactions easier and helped users to transfer funds across the world.
Checking the rules
Checking Post Quality
Saving money before the invention of modern Banking services was really a risk because thiefs can access your money any time and any day
I have added text alignment to my post
Thanks for reading and engaging
We can now transfer money across the world easier and faster onlike before that one will pass through difficult procedures and all this are possible through the help of technology
You are correct technology in banking has really helped us. We can now go out and withdraw money from POS without going to the bank. It has also saved human from home robbery of the wicked guys.
Technology has really improved the banking system and not just banking system but every aspect of life. Technology has really made life easy and stressless