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 Form 4 Business Studies Online Lessons: Money and Banking

Disadvantages of m-banking

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Answer Text:
Disadvantages of m-banking:
- Registration to enjoy all these services must physically be done in the banking hall, which subject the customers to stress queues of the bank.
- Only the registered mobile number can carry out these transactions which limits the customer to only using one number.
- Users requires a mobile phone with a screen that can display the transaction which a times some may not afford.
- Bank transaction information may load slowly, which may makes it expensive for the user.
-Possibility of transferring the funds to a wrong account, due to error in typing of the account number.


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