Total user cost of Electronic Money Transfer through Brac Bank.
1.0 Introduction
Electronic banking plays a vital role in the economic development of a country. Due to immense advances of information and communication technology (ICT), it certainly introduced new dimensions for the global banking community.
Electronic money transfer is a segment of electronic banking, which, in turn, encompasses all types of business performed through electronic networks.
It provides some attractive features for the customers than those offered by traditional banking system such as to open an account; it takes less time than traditional system. Other services offered like free fund transfer and free payment cards etc. In case of traditional banking system a fund transfer, for instance, used to take several days in case it takes several months whereas electronic banking is capable to perform the same operations within few seconds. Customers are getting better services now because of the development of ICT in E-banking and so bank now can perform its function with high speed and accuracy.
1.1 Objective of the study:
The main objective is to compare the user cost of electronic money transfer channel with traditional money transfer channel.
1.2 Sources of data:
The data related to the research have been collected from both –
Primary sources
Secondary sources
Primary sources: A structured questionnaire was used as the research instrument to collect primary data. The research populations for this study are people who transfer their money through Brac Bank in home and abroad. 25 people are selected as sample based on their availability.
Secondary sources: All the data of the study were collected from the secondary sources like brochure of Brac Bank recent promotion.
1.3 Questionnaire design:
The questionnaire is designed based on the user’s purchase and use costs, time cost, operating and incidental expenses.
1.4: Sampling method:
The convenience sampling technique was used to collect the
Electronic banking plays a vital role in the economic development of a country. Due to immense advances of information and communication technology (ICT), it certainly introduced new dimensions for the global banking community.
Electronic money transfer is a segment of electronic banking, which, in turn, encompasses all types of business performed through electronic networks.
It provides some attractive features for the customers than those offered by traditional banking system such as to open an account; it takes less time than traditional system. Other services offered like free fund transfer and free payment cards etc. In case of traditional banking system a fund transfer, for instance, used to take several days in case it takes several months whereas electronic banking is capable to perform the same operations within few seconds. Customers are getting better services now because of the development of ICT in E-banking and so bank now can perform its function with high speed and accuracy.
1.1 Objective of the study:
The main objective is to compare the user cost of electronic money transfer channel with traditional money transfer channel.
1.2 Sources of data:
The data related to the research have been collected from both –
Primary sources
Secondary sources
Primary sources: A structured questionnaire was used as the research instrument to collect primary data. The research populations for this study are people who transfer their money through Brac Bank in home and abroad. 25 people are selected as sample based on their availability.
Secondary sources: All the data of the study were collected from the secondary sources like brochure of Brac Bank recent promotion.
1.3 Questionnaire design:
The questionnaire is designed based on the user’s purchase and use costs, time cost, operating and incidental expenses.
1.4: Sampling method:
The convenience sampling technique was used to collect the
References: 8. How much charge you have to pay for traditional money transfer channel? Taka 20 (taka 1 – taka 20000) 0.1% (taka 200000- taka100000000) 9