Online banking Malaysia

Is online banking that easy to use? What could possibly go wrong?

You have heard so many good things about online banking, right? You would even hear more or see more benefit from it if you are living in Malaysia, online banking Malaysia appears everywhere you go. From big hotels, restaurants to the convenient stores, and local kopitiam, online banking Malaysia has penetrated the market so greatly that it is converting into a norm. 

However, relying too much on something could foreshadow inconvenient, interruption, and weaknesses. Any intervention into this system could cause catastrophic effects on many, but this is for the government to deal with. 

Below are some mundane issues that online banking Malaysia’s user should be aware of when they use it. 


Online banking as its name implies is a set of online activities that could conduct high-speed and easy transactions for anyone from anywhere in the world. This is what you might have heard of as cyberspace – the internet – and it is just like our reality, they have cybercrime. 

Cybercrime could research your online banking services’ security gaps and optimise them for their usage. A Russian infamous hacker named NC could be the most intuitive example of how painlessly your information could be found and used. Not saying too far, but do your social media accounts require you to input your personal information beforehand? These are also usable for a hacker to exploit and use viruses to penetrate your balances. 

Another security outbreak could come from a physical context like you forget or drop your phone on the way, and someone finds it, imagine that. Dropping your phone while taking the LRT would be a disaster during rush hour. Someone could gain access to your online banking Malaysia account and the rest will be history. 

Lack of personal contact

Business success – Group of diverse colleagues having a laugh together

A self-service as it is when you could handle all of the common tasks by yourself through your devices. Setting up an account, inputting the money, and making transactions are all linked to the bank’s app or virtual interface. This seems beneficial but also contains potential drawbacks when you don’t have any in-person contact or your go-to banker. 

Having a close contact banker would have you deal with so many different problems. As they are human units that can be flexible, and knowledgeable and help you fix the issue with just your vague descriptions. On the contrary, online banking could pose malfunctions when it happens. You cannot fix it anymore due to the codes deeply implanted within the system and you cannot access or be good enough to learn how to. 

Require high precision 

As mentioned above, you are your banker through the help of technology, and this might only apply to young people and adults. What about the elderly when they have to do it alone? Since it is hard for them to consume new knowledge, and technologies, without the help of an in-person banker, the steps of making a transaction could trouble them. 

Moreover, since the system works and requires a certain amount of precise actions, within just a few wrong id numbers or accident clicks. You could mistakenly transfer your money to a different person and would have to go to an actual bank to have it solved. 

Depends too much on your devices conditions

Imagine this:

  • Your phone got lagged off during a transaction
  • The internet is killed off while receiving your salary
  • Your phone die while you are at checkout
  • You drop your phone before going out

You are getting where we are going, right? Relying too  much on something is a bad thing. 

Prone to spend all of your money too easily and too fast

Online banking has made the tasks of collecting, storing, and spending money so convenient that people unconsciously spend all their money too fast and easily. Some people might even love to spend more of their money due to the perks and utilities when spending money through online banking.