Banks (Edexcel IGCSE ICT)
Revision Note
Written by: James Woodhouse
Reviewed by: Lucy Kirkham
Internet banking
What is internet banking?
Internet banking is a secure online platform for accessing and controlling a person's bank account
Internet banking can be accessed via the internet through a secure website or by using the banks' official app on a smartphone
Internet bank allows for transfers, bill payments, account management and much more
Advantages and disadvantages of Internet banking
Advantages | Disadvantages |
|---|---|
|
|
Examiner Tips and Tricks
Sometimes the question will be about advantages and disadvantages of going to the bank rather than using online banking. Read the question carefully (you can reverse the statements in the table above)
Worked Example
Zain uses an online banking service. List two features of an online banking service.[2]
Answers
Increased access (to chat / support / service at any time [1]
Encryption / secure payments / secure data transfer [1]
Anti-fraud measures (e.g. matching name of payee) [1]
Instant mobile notifications [1]
The service can carry out multiple transactions simultaneously / no queuing [1]
One mark max for any general banking service:
Check balance [1]
Payments / transactions / transfers [1]
Order cards/chequebooks [1]
Reporting cards lost/stolen [1]
Set up a new (bank) account [1]
Loan applications [1]
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