Today, many people use the internet and smartphones to transfer money to friends, family, and businesses. Why do you think people do this? Are they any disadvantages of doing this?

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At present, a large number of individuals rely on digital networks to conduct financial
transactions
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with close acquaintances, family members, and enterprises. In my opinion,
people
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do
this
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because of the ease and speed of
transactions
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and
also
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availability compared to traditional methods, but I believe that there are some disadvantages to it. One reason is that it is fast.
In other words
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,
people
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can transfer
money
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using online platforms easily within seconds.
For example
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, in Saudi Arabia,
people
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prefer to use Al Rajhi Bank apps to do transfers in the afternoon, especially when the temperature is high because if they go to the physical bank, they might get sick because of the hot weather.
Therefore
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, with
this
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, they can easily complete
transactions
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through their mobile phones without being worried about getting sick. Another reason is that online banking is the best option when there are no banks in
people
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’s
neighborhoods
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neighbourhoods
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.
That is
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to say, if someone needs to transfer
money
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, and they cannot find a bank near their house, online
transactions
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can help them.
For instance
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, in Yemen, some small cities, namely Wesab, do not have a lot of banks, so
people
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have to travel to the capital city, Sanaa, to do their transfer.
Hence
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, with the help of
Internet
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the Internet
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, they can send
money
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easily.
Nevertheless
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, I believe that
this
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can lead to some drawbacks.
Firstly
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, they will face some technical issues. To put it simply, sometimes, because of the slow internet connection, they cannot send their
money
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easily. In some cases, they might send the
money
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two times.
This
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can cause them to lose a lot of
money
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.
Secondly
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, some
people
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can lose their
money
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because there are many online hackers.
For example
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, in Malaysia, many
people
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have lost their
money
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because of online banking.
To sum up
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, I believe that
people
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rely on online
transactions
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because of their convenience and speed.
However
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,
this
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can sometimes result in issues
such
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as security risks and privacy concerns.

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