Cost Comparison between Electronic Money Transfer Channel and Traditional Money Transfer Channel: A Study on Commercial Bank in Bangladesh

Abstract

Electronic banking plays a pivotal role in the economic development of a country. Due to immense advances of Information and Communication Technology (ICT), it certainly introduced new dimension for the global banking community. Attempts are made to find out the total user cost of electronic money transfer that is a segment of electronic banking. To conduct this research, primary and secondary data are used and to compile these data various statistical tools are applied. Efforts are also made to make a comparison between the total user cost of electronic money transfer and that of the traditional money transfer. This research conveys that user cost of electronic fund transfer channels is less than traditional fund transfer channels due to sophisticated technology adopted by commercial banks.

Keywords: Electronic Fund Transfer, Traditional Fund Transfer, Physical Effort