The main pros and cons of telephone banking

Some people prefer telephone banking because it gives them the chance to discuss their finances with a human voice. For example, if a customer has a specific query, it may be easier to receive advice on the phone rather than online. Telephone banking is also convenient for customers who are temporarily unable to access the Internet from their home.

The main advantage of banking by phone is that customers can receive information about the status of any payments that are expected to be withdrawn or paid into an account. If there is an issue, such as an overpaid credit card payment, it may be easier to alleviate the problem on the phone because workers will be able to access the bank's private databases. However, if a customer requires help outside of business hours, it may not be possible to call their bank during this time.

Another disadvantage is that telephone banking does not usually operate during bank holidays, whereas online banking is fully accessible throughout the year. Accessing account details such as a balance or a recent transaction takes longer on the phone because people will usually be redirected to different services before they can talk to a person directly.

The security procedures involved are often more strict, since many banks require a special security code that is different to the one used for online accounts. However, this makes telephone banking a safer option than Internet banking because it is significantly harder for criminals to access accounts through a phone network. For more details, customers should visit their website or call their bank to request further information about the services they can receive.

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