Although many accept such offers instantaneously, there are issues which need to be sorted out before such offers are accepted. Being vigilant and being cautious can sometimes relieve you from great inconveniences and this could just be a good example.
Let us first take a look at some of the disadvantages of online banking.
If the login name and the password is used carelessly and is made available to a third party, it is rather easy for a person other than the account holder to perform transactions causing monetary losses. From time to time there may be technical breakdowns or mishaps in online banking which can put the online customers at inconvenience and delay or put a hold to the scheduled transactions. At times, check deposits into an online account can take a longer time to process and therefore could delay earning of interest as well as the finalization of a transaction. Furthermore, setting up an online account can be a cumbersome task and sometimes would take ages for it to be activated. If someone badly requires assistance in urgency, it may not be available through an online banking portal as it asks for at least 24 hours for a response in most instances. In some instances, even though a hot line number is available, it may require numerous calls and long delays before you reach a customer care assistant which may not be helpful after all.
Thus, before embarking in registering yourself to your banks online system, clarify the following and make sure the concerns are addressed.
Is there a customer care hotline with a guaranteed response time for online banking related queries? What measures are being taken to reduce frauds and to secure the online banking portal? How long is the delay in realization of checks and deposits to an online account? What is the possibility of a technical failure which may disrupt the ability to perform transactions? What other benefits are given to online customers?
If these queries can be adequately resolved, it may be a prudent idea to sign up when considering the convenience it gives in performing routine banking transactions. But, if the online system is not developed up to standard or the bank is unable to give you any satisfactory answer, not committing for such banking practice may be a good idea for the time being.