The banking system is the system that is used to facilitate the monetary transactions. The banking system is a very important system and it is used by almost all the people of the world. When you think about the banking system, you will see that it is not just a single system, but it is made up of different systems.
There are different types of banking systems. Some of them are the manual and the electronic banking system. The manual banking system is the system that involves the use of paper money. The electronic banking system is the system that involves the use of computers and electronic devices. The manual banking system is a very old system. This means that it is not easy for the people to use it.
The electronic banking system is a very new system. With the help of the electronic banking system, the transaction of the money is easy. The people can also perform a number of transactions. One of the most important transactions is that the people can transfer the money from one account to another account.
There are two main types of banking systems. They are the manual and the electronic banking systems. The electronic banking system is a very complex system that has made it easier for the people to do all their financial transactions. Now, let’s discuss about the manual and the electronic banking system and how it is used.
Manual banking system:
The manual banking system is a very old system and it has been used since the ancient times. The first manual system was invented by the Babylonians. This system was very complicated and it was not used by the people of this time.
Banks and credit card companies have helped people to use the cash system. In this system, you don’t need any form of identification. If someone asks for your ID, you don’t have to show it. Cash systems are easy to use. They are convenient because the user doesn’t have to carry any additional items.
You should understand that banks and credit card companies are not banks and credit card companies. They are just middlemen who help you to use the banking system.
Banks use money to keep your accounts. They use your money to loan money to other people. This is why banks are called financial institutions. In a bank, you can deposit money into your account and you can withdraw your money when you want.
Nowadays, the manual system is still used by the people and this system is also known as the cash system. When you use this system, you need to use cash to perform the transactions.
Electronic banking system:
The electronic banking system is a new system and it is also known as the online banking system. This system was invented in the 1990s.
Before electronic banking, the customers would need to visit the banks and get the necessary information for performing the transaction. It used to take a lot of time to fill in forms, and it was also expensive to use. Today, with the help of internet, you can access the banking services from any place in the world and without visiting the bank. This is very convenient and easy to perform. You can also perform the transactions in different countries. This helps to avoid high transaction fees.
Some banks have started offering services of online banking. The main advantage of this service is that it saves the time and money. With the help of internet, you can easily perform the transactions without visiting the bank.
With the help of the internet, you can easily perform the transactions without visiting the bank. The main advantage of this system is that it saves the time and money.
Conclusion:
So, these were the two different banking systems and how they are used. Now, if you are wondering what is the difference between the manual and the electronic banking system, then you need to know that the electronic banking system is a computerized system, whereas the manual banking system is a non-computerized system.
