Survey Study of Alternate Delivery Channels for Financial Transactionsand its Reasons

Abstract

Analyzed data in this research exposed the fear factor in Karachi citizens while doing the financial transactions on ATM or going to the branch directly. The results showed that50% people used ATM as any Alternate Channel for cash withdrawal or financial transaction and 28% used Internet Banking as second mostly used Alternate Channel, and 11% went to the branch for financial transaction and the remaining 6% opted to use SMS and Mobile Banking. On the other hand, 40%> people used ATM for convenience and felt little secure, however, 37% used purely pr convenience rather than standing in long queues and 23%> felt secure in using ATMs. Due to the law and order situation in Karachi, 52%) people sometimes had a fear of getting robbed while going to bank for financial transactions, however, 35% always had a fear in mind of getting robbed when going to bank for financial transactions