What is a potential disadvantage of online banking compared to traditional banking?

One significant potential disadvantage of online banking compared to traditional banking is the increased risk of cyber threats. Online banking systems are more susceptible to hacking, phishing, and other forms of cybercrime since they operate through the internet. These security vulnerabilities can lead to identity theft, financial loss, and unauthorized access to personal accounts. In contrast, traditional banking, with physical branches and face-to-face interactions, may offer a stronger sense of security and trust for individuals concerned about digital safety.

While flexibility, access to technology, and paperwork can be factors in comparing online and traditional banking, they are not as directly associated with the inherent risks that come with online banking systems. The overarching concern about cybersecurity captures a fundamental difference in the security landscape of these banking methods.