Online banking and digital payment systems have become increasingly common topics in IELTS Writing Task 2 examinations, particularly as how digital banking improves customer satisfaction. Based on analysis of past papers and current trends, questions about digital financial services appear approximately every 3-4 months in various forms.
Online banking makes payments more convenient through digital transformation
Task Analysis
Some people say that online banking has made payment systems more convenient, while others argue it has created problems. Discuss both views and give your own opinion.
This question requires:
- Discussion of advantages and disadvantages of online banking
- Clear position statement
- Supporting examples
- Balanced analysis
Sample Essay 1 (Band 8.5)
The digital revolution has transformed banking services, with impact of digital banking services being particularly evident in payment systems. While some celebrate this technological advancement, others express concerns. This essay will examine both perspectives before presenting my own viewpoint.
Online banking has undoubtedly enhanced payment convenience in several ways. Firstly, transactions can be executed instantly from anywhere with internet access, eliminating the need to visit physical banks. For instance, people can transfer money, pay bills, or make purchases 24/7 using their smartphones. Additionally, digital banking has streamlined international transfers, making global commerce more accessible and efficient.
However, critics raise valid concerns about digital banking systems. The primary issue is cybersecurity, as online platforms can be vulnerable to hacking and fraud. Furthermore, elderly or less tech-savvy individuals often struggle to adapt to digital systems, potentially leading to financial exclusion. Technical glitches and system downtimes can also cause significant inconvenience.
In my opinion, while the challenges are noteworthy, the benefits of online banking substantially outweigh the drawbacks. The convenience and efficiency offered by digital payment systems represent a crucial advancement in modern finance. However, banks must continue strengthening security measures and providing support for vulnerable users.
Sample Essay 2 (Band 6.5)
These days, online banking is very popular. Some people think it makes paying for things easier, but others worry about problems. I will discuss both sides and give my opinion.
Online banking has many good points. First, it saves time because we don’t need to go to the bank. We can pay bills and transfer money using our phones. Also, digital banking's role in economic inclusion shows it helps many people access banking services. For example, in my country, many people use mobile banking to send money to their families in villages.
However, there are some problems too. Sometimes websites crash or don’t work properly. Old people find it hard to use online banking and might lose their money to scams. Also, if we forget our password or lose our phone, we can’t access our account.
I think online banking is mostly good despite these problems. Banks should help people learn how to use it safely and fix technical problems quickly. This way, everyone can benefit from convenient payments.
Analysis of Band Scores
Band 8.5 Essay Features:
- Sophisticated vocabulary: “digital revolution,” “technological advancement”
- Complex sentence structures
- Clear organization and cohesion
- Well-developed arguments with specific examples
- Appropriate academic tone
Band 6.5 Essay Features:
- Simple but clear vocabulary
- Basic sentence structures
- Some grammatical errors
- Limited development of ideas
- Less formal tone
Key Vocabulary
- cybersecurity (n) /ˌsaɪbəsɪˈkjʊərəti/ – protection of computer systems
- streamlined (adj) /ˈstriːmlaɪnd/ – made more efficient
- technological advancement (n) /ˌteknəˈlɒdʒɪkəl ədˈvɑːnsmənt/ – progress in technology
- vulnerability (n) /ˌvʌlnərəˈbɪləti/ – susceptibility to attack
- digital transformation (n) /ˈdɪdʒɪtəl ˌtrænsfəˈmeɪʃən/ – shift to digital technology
The impact of digital banking on traditional financial services continues to evolve. For practice, try writing your own essay about how the impact of the sharing economy on finance relates to digital banking. Share your response in the comments for feedback and discussion.
