Colegio de Calumpit, Inc.

Iba O’ Este, Calumpit, Bulacan

TEACHERS’ PERSPECTIVE ABOUT ONLINE BANKING IN THIS TIME OF

COVID-19 PANDEMIC

Submitted to:

Ms. Jerahmel Anne Vicente

Researchers:

Barquilla, Janice

De Jesus, Maria Beatriz

Gatchalian, Giechel

Jordan, Angel

Lagura, Trisha Paola

Ocampo, Juan Miguel

Santos, Jaira Fate

S.Y. 2020 – 2021

 CHAPTER I

PROBLEM AND ITS BACKGROUND

Introduction

A few people were truly adept in raising livestock. Some were good in growing crops,

some in fishing, and some in making furniture as it was essential for a rancher to also buy

furniture in the form of trading with others without setting a standard price. During the

Mesopotamian era, bartering has been prevalent as it helps people trade their goods and services

to satisfy the needs of both parties. However, during the time of barter system, the lack of goods

and services became confusing which brought the currency into existence to measure in terms of

exchange (Prabhavathi K and Ginesh G, 2018). Every person uses money. It allows them to

obtain what they need, negotiate the price of goods, and store their wealth for long-term. While

the growth and creation of money were inherently intangible, it was the way to get the things

they need and desire.

The bank is a financial institution that manages debits and credits. It also accepts,

deposits, and produces money through loans and other banking services that builds the gap

between the borrowers and the lenders. With the emergence of Internet and technological

innovation, from early 1980s up until now, banks have led itself into its more practicable,

globalized, and technology-driven channel to perform in a highly competitive environment.

Today, it is very usual to see people doing their banking transactions anywhere and anytime as

long as Internet access is available. According to Islamia (2017) “Online banking also referred as

Internet banking, E-banking and by some other terms, is an electronic payment system that

allows customers of a financial institution to conduct their monetary transactions through a

website which is also operated by them, such as a virtual bank, retail bank, credit union or

building society.” All these financial institutions intend to fulfill their responsibility in the lives

of their customers and therefore consistently endeavor harder to keep satisfying their customers'

demands through better channels of conveying their offerings (Islamia, 2017). This new channel

has become useful particularly in the time of COVID-19 pandemic wherein physical contact is

restricted. This implies a limited movement of people and increasing their time at home as much

as possible. In accordance with these indications, banks in the affected countries have reduced

their opening hours promoting to their customers the use of Internet banking (Al-Siqilli, 2020).

The purpose of this research is to determine how these people, particularly the Colegio de

Calumpit (CCI) teachers, adapt to the use of Online Banking in managing financial transactions

during the time of pandemic. This also includes their opinions since it will further help the study

to execute its concerns – if it is more preferable and practical over traditional banking, and also if

it is advisable for all. If so, this study would be a great contribution to the existing knowledge of

the customers, future customers and also in the electronic banking field of study.

Statement of the Problem

This study aims to determine the adaption of Colegio de Calumpit’s Senior High School

teachers to the online banking and how they adapt to it during these times of COVID-19

pandemic.

This research aims to answer the following questions:

1. What online banking services do the respondents typically use?

2. What makes the Senior High School teachers of Colegio de Calumpit feel satisfied in using

Online Banking during COVID-19 pandemic?

3. What adjustments/adaptation did they employ in using online banking?

4. How can the banks improve their online banking services?

Significance of the Study

The significance of this study would be beneficial to the following and suggest new

banking services for their customers, particularly the Colegio de Calumpit’s Senior High School

teachers that will affect the banks’ reputation to improve their service quality.

For Teachers. The teachers have been greatly affected by the COVID-19. The lack of

teacher experience with technology, lack of technology/up-to-date technology, and the lack of

financial resources have impeded the capability of numerous teachers to embrace the online

class. Hence, they are mostly the beneficiaries of this study. This can be used as their guideline

in adapting the proper use of Online banking whatever age they are especially now that their

mode of receiving their income is through online banking. Furthermore, they can likewise keep

away from certain mistakes of other customers.

For the School Administration. This research will benefit the school administration for

it will help them realize the teachers’ opinion about the shift to online payroll.

For Elderly Adults. As the aging concept is continuous, there is a consensus that

technologies can assist elderly adults to improve their living conditions. In relation to it, internet

banking for these people plays a vital role in their lives especially when they are receiving and

paying bills on their own considering their age and limitations. Though it requires effort for them
to understand, this somehow promotes a much healthier and effortless living independently for a

longer period of years in their various settlements or communities.

For Financial Institutions. This study could provide the customers’ feedbacks and

opinions about their services. Consequently, financial institutions can focus on the influences

that tend to have a dominating impact on satisfying the customers such as the COVID-19. This

results in a better internet banking service quality provided by the banks which may boost

customer satisfaction and that, in turn, will help retain the existing customers and also gaining

new ones. Besides, it may greatly increase their market coverage and better track customers as

well.

For Future Researchers. This study is beneficial for them for it contains reliable

information that undergoes scrutiny to be verified and accepted. This would equip them to be

better analysts and expand their common knowledge since it can be a future reference for more

studies in the future.

Scope and Delimitation

This study is primarily focused on determining the adaptation and opinions of Colegio de

Calumpit’s Senior High School teachers to the use of Online banking during the pandemic. This

includes their opinions: if it is more preferable and practical over tradition banking, and if it is

advisable for all. The respondents of this study must be a grade 11 Senior High school teacher in

Colegio de Calumpit, Inc. school year 2020-2021. The researchers must not interview a Junior

High School nor Elementary teachers as well though most of them shift in Online Banking.

The study will be conducted at Colegio de Calumpit, Inc. campus and on the indicated

school year only.

Definition of Terms

Traditional banking. the monetary establishment that is devoted to the administration of the

money that its customers store in authority custody and, on the other hand, the bank uses that

money to allow it as an loan to people or organizations, charging them interest.

Customers’ satisfaction. A measurement that determines how well a company's products or

services meet customer expectations. One of the most important indicators of consumer purchase

intentions and loyalty is customer satisfaction.

Banking services. Any activities involved in accepting and safeguarding money engaged with

other people and entities, and afterward lending out this money to acquire a profit.

Customers. is a person or business that buys another company's goods or services.

Financial institution. A company that specializes in financial and monetary transactions such as

deposits, loans, investments, and currency exchange.

 CHAPTER II

REVIEW OF RELATED LITERATURE

This chapter provides background that supports the whole study pertaining the impacts

of online banking to the customers’ satisfaction and the relationship between internet banking

and its customers. It will also serve as references in conducting the research.

RELATED LITERATURE

Foreign Literature

A study in Malaysia shows that one of the country’s most important industries is the

banking industry. Most banks in this country have provided their own banking websites as an

approach to be more broad and effective. Internet banking brings convenience to customers and

encourages them to conduct transactions more easily and efficiently through the banking website

(Goh, Yeo, Lim & Tan, 2016). This study indicates that various types of products and services

were provided by the banks through their websites to satisfy customer’s needs. As a result, a new

aspect to the concept of customer satisfaction has been added.

Factors which can Influence Customer Satisfaction toward Internet banking

As stated by Naik et al. (2010) Service quality is created when clients make a contrast

between preceding-service expectations with their actual-service assumptions and with their

actual-service experience. In relation to Internet banking, e-service quality plays a vital role to

the financial institutions since it affects customer satisfaction. Thus, a fraction of the service

quality dimension has indicated a relationship towards customer satisfaction (Nupur, 2010).
 According to Ahmad and Al-Zu’bi (2011) a well-presented web design includes clear

graphics, a decent screen format and plan, clear illustrations and dynamic shading setup.

Therefore, the significance of web design reflects to the customers’ fulfillment level and it is an

important factor to allure the usage of Internet banking.

Security and Privacy are also factors which can influence customer satisfaction in internet

banking. Security exists to prevent the hackers from invading the privacy of the customers while

Privacy is an important element that banks must ensure every client’s personal and financial

information are protected.

Next factor is Convenience. Based on Shariq (2006) the main attraction and focal point of

the Internet banking customers. Furthermore, they were much focused on the simpler ways in

conducting financial transactions through Online banking hence it is related to customer

satisfaction (Kassim & Abdullah, 2010).

As mentioned by Ahmad and Al-Zu’ bi (2011) Speed is the amount of time that banks

response to the customers' concerns and the rate of time which the customer spends for a page

response. Additionally, it is affected by high-resolution graphics and incompetent host server.

Speed has showed an important impact with customer satisfaction.

In accordance with Kotler and Keller’s study in 2011, Customer Satisfaction can likewise

be portrayed as the feedback of a post purchase evaluation of certain service or item's quality,

and contrasted and the assumption for the prior-purchasing stage. It is also considered as one of

the most significant concepts in the field of marketing studies in present day.

In relation to Goh et al. study, McMillan in 2016 conducted a study in Ethiopia that

customers have not been widely accepted the Internet banking. Instead, they still prefer to
conduct their banking transactions through Traditional banking. Therefore, the main focus of this

study is to determine the factors that affect customers’ usage of electronic banking services. The

outcome showcases perceived behavioral control, behavioral intention, subjective norms, attitude

towards use, perceived usefulness, perceived ease of use, availability of internet/network

connection and awareness of the study have a positive influence on customers’ usage of e-

banking service delivery channels, however, perceived risk showed a negative impact.

Local Literature

Davao City is one of the fastest growing economies in the Philippines and the world and

because of the rapid growth arise the number of banking institutions both from local investors.

For example, BDO and Metrobank offers Internet banking to better serve the needs of consumers

especially in this time of pandemic. Nonetheless, researchers are still oblivious to the reason why

people in Davao are gravitated to Internet banking.

Quilantang (2016) conducted a research which aims to see the effectiveness and

perceived convenience and also a strong element of internet banking adoption. The study

published used the underlying design of investigation to delimit the causes of the problems.

Factor Analysis was used to classify the appropriate items for analysis. Probity regression was

used to determine the probability of adoption of internet banking by customers and the aspects

that determine their approval of using online banking. The banking services construct consists

trust on the security of information, capacity to convey assumptions for clients, depositors’

information are kept hidden and confidential. It represents the other factor which is the trust of

customers towards banks. Factors that are potentially describing preference of Online banking

are classified into two categories: the personal experience (“convenience”); and,
expectations of confidentiality of information (“banking services”). As for the chances on why

people in Davao are into Internet banking, according to Quilantang (2016), it is because of age

and income that were found to show statistical impact on becoming an internet-banker, yet

there is an increase in age reduction chances of becoming an internet user in banking.

Meanwhile, income determined probabilities of making a depositor become an internet-

user in banking transactions. It was also found that an increase in income also increases the odds

of becoming an internet-user in banking. Lastly, ease-at-use afforded by a bank will attract

depositors to avail services of internet-based banking. In conclusion, age and income of

bank customers in Davao City were the results that showed a strong impact on likelihood to

adopt Online banking in their banking transactions.

RELATED STUDIES

Foreign Study

According to Baladevi & Nedumaran (2017), Internet banking is an electronic payment

system that enables customers of a bank or other financial institution to conduct a range of

financial transactions through the financial institution’s website without going to the

establishment itself. This financial transaction is not the same with telephone or also known as

mobile banking. Banks now regularly allocate customers numbers, whether or not clients have

specified an intention to access their online banking facility. To be precise, the customer number

can be linked to any account with the financial institution that the customer controls, though the

bank may limit the range of accounts that may be accessed to.

In conclusion to the research conducted, the financial institution needed more to take it

step-by-step in educating their clients on the subject of the new technology and other
services offered by the banks. These institutions may increase the time when it comes to

meeting every customer with bank officials and also a pleasant and welcoming approach is

required especially when dealing with their concerns.

Local Study

In the present time, electronic payments are now widespread in the world. There are

various companies involved on setting up electronic or digital cashless payments support.

Philippines is in the progress of coping up with this innovation. As explained by Nair (2016),

these cashless transactions are continuously increasing through the help of the young generation

in urban areas who are exposed thus gaining knowledge in the world of technology through

online shopping. The creation of this cutting-edge innovation was due to the report of the World

Bank back in 2013, that only 42% of the Filipinos do not own any personal bank accounts. For

this reason, it had formed a division among rural and urban provision of financial services due to

some poor accessibility of the rural areas in the Philippines which indicates that there is a need to

new means of sending cash for the families of the overseas workers to support their basic needs.

And so it formed this modernization, the cashless transaction. But the Philippines is still reliant

on cash and cheque mode of payments despite of having a strong hierarchical support from BSP.

In addition, out of the 2.5 billion (US$ 74 million) payments made per month, only 1% are

digital based on Better Than Cash Alliance (BTCA) in 2015. To further ameliorate country’s

electronic payment systems, since it is a part of the initiatives of BSP, the National Strategy for

Financial Inclusion have been improved by them for the purpose of reaching out those who are

financially excluded.
 In conclusion of this study, doing online transaction is of convenience, where Filipinos

have limited time to physically perform their necessary tasks such as paying their utilities and/or

sending money to their relatives. Besides, arrangement of user friendly applications and

frameworks will help support more Filipinos in receiving it on the grounds that the present

technologies this world has to offer have for connecting in the Internet helps Filipinos the

adoption of the electronic payment systems such with respect to smartphones. There are

applications that provides serves fund transfers as well as bill instalments, which makes it

simpler for Filipinos to execute. With these, the Philippine Government is on the right track on

giving channels on improving the use of electronic payment systems through their Public System

for Monetary Consideration (Banko Sentral ng Pilipinas, 2012).

In relation to the study mentioned before, Mojares conducted a study in 2014 that the

respondents in this paper strongly agreed that Internet Banking Service of Philippine National

Bank provides lower cost delivery channel. The customers who are fund of using internet

banking in Philippine National bank are largely satisfied and contented with the speed and

accuracy, accessibility and convenience, and security features of the internet banking service

facility. People who are into online banking transaction agree that they will continue to trust and

show loyalty in using the online service of Philippine National Bank. The satisfaction of internet

banking in terms of speed and accuracy is affected by the effects of internet banking services.

Management of Philippine National Bank should be aware of the needs of the customers and

offer them the best quality virtual service.

 Conceptual Framework

USAGE

TEACHERS’
ADAPTATION AND
IMPROVEMENT OPINION TOWARDS SATISFACTION
ONLINE BANKING

ADJUSTMENTS

Figure 1: Conceptual Framework

Figure 1 portrays the conceptual framework which serves as the guide and overview of

the study. The researchers used different shapes, such as oval, rectangle and a one-way arrow to

visualize the study. The main focus of the study is to determine teachers’ adaptation and opinion

towards online banking. It is located in the middle of the conceptual framework inside an oval

which represents the main topic and the focus of the study. The factors that deal with teachers’

opinions in online banking which are (a) usage of the costumers, (b) satisfaction with the Internet

banking services, (c) adjustments for the financial institutions, and (d) improvement were put

inside rectangles and were connected to the center with a one-way arrow to represent that those

factors are affecting the adaptation of the teachers towards online banking.
 CHAPTER III

RESEARCH METHODOLOGY

This chapter contains the researchers' preferred methods and techniques that are used for

the study. This chapter also includes the population of the respondents and their description, the

instrument used and the data gathering procedure.

Research Design

The researchers will use Qualitative method wherein it does not include any

mathematical figures. As stated by Aspers and Corte (2019), Qualitative research is an iterative

process which improved better understanding to the specific community which is achieved by

providing new important distinctions that result from getting closer to the phenomenon studied.

Employing qualitative as the researchers’ methodology will further help the study since these

qualitative methods responds to the questions about meaning, perspective and experience, most

often from the outlook of the participant. (Hammerberg, Kirkman & de Lacey, 2016)

Qualitative research is commonly used in collecting and analyzing non-numerical data. It

relies on data gathered by the researchers to better understand concepts, ideas, opinions, or

experiences. It can be used to comprehend how a person subjectively understand and gives

meaning to general or social reality.

This study will be using analytical method as a research design. This procedure is being

used if the problem can be simplified to a one-dimensional problem. An analytical method is for

the analysis of a problem, status or a fact. This method is usually time-limited and task-limited.
Methods of analysis are connected and shaped by the researcher's commitment to a specific

custom or approach to social inquiry.

Research Instrument

The instrumentation that will be used by the researchers to accumulate different data and

information for this study is through a questionnaire. The researchers will conduct several

questionnaires for 13 Grade 11 Senior High School teachers in Colegio de Calumpit that will suit

the research respondent’s criteria. The researchers carry out different questions to be answered

by thirteen well-chosen respondents of the study. The goal of the researchers is to determine the

factors that deal with teachers’ opinions in online banking and in addition, to explore among the

teachers’ idea of their preferred and recommended Online banking services through answering

the main problem in order to help the financial institutions improve themselves and meet the

satisfaction of their customers.

Population of the Study

The researchers use the purposive technique because the study focuses on teachers’

perspectives in which their opinions are the most effective in discovering the satisfactory level of

the customers of online banking platforms.

Research respondent’s standards

1. They should be senior high school teachers of Colegio de Calumpit, Inc. school year 2020-

2021.

2. The respondents should be a teacher of Grade 11 students.

3. They should be a regular customer of a specific bank with an online banking account.
 The given criteria is set to obtain accurate results in pursuing the goal of the research

study, inquiring the satisfactory level of Grade 11 teacher in using Online Banking.

The researchers will use Purposive sampling, a type of sampling that sets criteria in

determining the respondents of the study.

There are twenty-four (24) Senior High School Teachers of Colegio de Calumpit, Inc.

School Year 2020-2021.

The study has 13 respondents age 24-60. It consists of three (3) males and ten (10)

females.

Data Collection

• The researchers have selected a year of study deadline which is 2020-2021.

• The researchers composed questionnaires to be used as an instrument of the study

through the use of Google Forms. After its completion, the researchers presented the

said questionnaire to the teacher for its approval.

• Afterwards, the researchers distributed the questionnaires to the respondents of the

study online. Overall, the researchers will give thirteen (13) questionnaires.

• Through this, researchers will be able to determine the answer to their study and will

interpret the information gathered from the respondents of the study.

 CHAPTER IV

RESULTS, ANALYSIS AND FINDINGS

This pandemic really showcased the essence of transferring money. Just as the

importance of food and medicine, online transaction through an electronic device plays an

important role in a no physical contact exchange of commodity.

One of the most important features of internet banking is that it can operate by electronic

means without the exchange of any tangible commodity and it made it an essential instrument to

protect people from the threat of this deathly pandemic.

The study used the Qualitative method as their research method. This method only

focused on interpreting, evaluating and analysing the data gathered. Questionnaires were used by

the researchers on gathering and collection of data as their instrument.

This chapter shows the data that the researchers collected for the study including the

analysis, explanation, and interpretation based on the statement of the problems presented in

Chapter 1. This chapter consists of the results from the questions: (1) What Online Banking

services do they often use? How often is it? (2) What causes the satisfaction of teachers when

using Online Banking during COVID-19 pandemic? (3) What adjustments/adaptation did they

employ in using online banking? (4) How does online banking improve their transactions? (5)

Are there any suggestions or recommendations on how banks will improve more of their Online

Banking Services?

The study has 13 respondents age 24-60. It consists of three (3) males and ten (10)

females.
1. What online banking services do they often use? How often is it?

According to the analyses of the researchers, the respondents are using Online banking

for different purposes. Four (4) of them use internet banking for money transfer. Two (2) of them

use it for paying their bills, and another two (2) for balance inquiry. Some mentioned, “I usually

transfer money (from my account to another), get my salary, pay bills and buy something using

my account.” and “I use [it] frequently when checking balance and transacting money transfer

thru Gcash; sometimes, reloading (load transfer).” In terms of the frequency of their usage, one

respondent uses it weekly, one (1) uses it once a month, one uses it twice a month, and another

uses it for 5-6 times a month. Their answers indicate that the frequency of their usage of online

banking is dependent on their purpose of using it. Some respondents did not answer this question

comprehensively.

2. What causes the satisfaction of teachers when using Online Banking during COVID-19

pandemic?

As per the analyses of the researchers, the results of the study shows that out of thirteen

(13) respondents, seven (7) said that the cause of their satisfaction is the convenience. Majority

of their answers stated, “It is easier and convenient, because it allowed us to transfer and receive

money even at the comfort of our homes.”, “It is convenient and safe. No hassle.” and “The

convenience. Even if you are in your house or elsewhere, as long as you have internet, you can

access Online Banking.” According to the study conducted by (Hasan Ali Al-Zu'bi, 2011),

internet banking provides a higher degree of convenience which allows customers to access

internet bank anywhere and anytime. Three (3) of the respondents were satisfied for the reason
that E-banking is a safer way in managing their financial transactions. They mentioned, “Well,

due to pandemic. I find online banking satisfying to use in terms of: money transaction and

reloading.”, “Of course, it keeps us safe. I think that’s the greatest satisfaction we get.” and “I

find it more safe especially in these times.”; two (2) answered accessibility: “can easily access to

know how much is my balance” and “We can easily access and transfer money to others without

going to bank.”; and, one (1) responded that it is because of the ability to check the customer's

money regularly: “In online banking you can check your money regularly.”

3. What adjustments/adaptation did they employ in using online banking?

According to the analyses of the researchers, most of the teacher respondents were

struggling when they first tried using online banking application. Most of them, as time pass by,

got familiar with the new way of banking. It is expected for the reason that this new way of

banking is useful in everyday life, from online shopping, groceries, buying essential products

such as food and medicine, everyone in legal age is allowed to use. But some respondents’

answers show that they are already satisfied with their banks services.

4. How does online banking improve your transactions?

The analyses of the researchers to the data gathered explains that online banking improve

their transactions in different ways. Some of them say that it is easier and faster way than

traditional banking. Also, they find it more convenient and less hassle. Due to the COVID-19

pandemic, physical contact is prohibited. Paperless transactions like online banking are now

much in demand since it is much safer. As stated by Koskosas (2011), online accounts are user-

friendly and do not require more information than a traditional bank account. That is why some

respondents were able to check their balance without going to the financial institutions.
Furthermore, it is also environmental friendly for it does not require paper and are virtually

pollution-free.

5. Any suggestions or recommendations on how banks will improve more of their Online

Banking Services?

As per the analyses of the researchers, the respondents gave three (3) different

suggestions. First is about banks strengthening their security for the customers’ privacy. The

results of the study show that it is the customers hope that the financial institutions can ensure

their personal and financial information particularly in doing their transactions via internet

banking. Some voiced, “Make the transactions more secure. I think it's always important to have

that sense of security when doing transactions online. If a bank is vulnerable to security lapses,

breach of privacy or hacking, it definitely makes me lose confidence to do business with them. It

would be also nice if they have a more responsive and reliable customer service especially these

days where phishing scams are more prevalent.” and “I hope they can improve their security. So

far, with my both accounts, I haven’t experienced anything bad. But, it makes me scared using

their online services as I hear phishing issues.” According to the study conducted by Khalaf and

Hasan on the year 2011, banks security had a significant relationship towards customer

satisfaction. Second is that financial institutions should pay attention in cancelling the upcoming

transfer fee. Lastly, mobile apps of banks should always be on active status. Offline can make

one irritated when emergency situation comes. However, some respondents did not give any

suggestion or recommendation regarding banks improvement.

 CHAPTER V

SUMMARY, CONCLUSION, AND RECOMMENDATIONS

This chapter includes the researchers’ results from the data collected on the previous

chapter. The conclusion that was obtained from the result of the findings, the limitations of the

study that the researchers found throughout the study and recommendations which explained the

effects on the specific problems acknowledged in Chapter 1.

This study was conducted to determine teachers’ adaptation and opinion towards online

banking which includes their personal opinions that will further help the study to execute its

concerns. This study was conducted to thirteen (13) respondents, three (3) males and ten (10)

females, who were selected through random sampling technique.

The findings of the study were as follows:

1. Four (4) respondents use online banking to transfer money; two (2) of them use it to check

their balance; and 2 of them use it to pay their bills. When it comes to how frequent the usage of

online banking, one respondent uses it weekly, one uses it for once a month, one uses it for twice

a month, and one uses it for 5-6 times a month. Other respondents did not answer the question

thoroughly.

2. The causes of the respondents’ satisfaction when using Online Banking over Traditional

Banking during COVID-19 pandemic is convenience and hassle-free, and it keeps them safe

from having physical contact with other people with the accessibility to do any kinds of payment

in the comfort of their homes.

3. The adjustments or adaptations the respondents employ in using online banking is that some

find it difficult to adjust due to lack of knowledge in technologies and interface of the
application. Some of them already have advantage because of the experience in using online

banking even before the pandemic.

4. The suggestions or recommendations of the respondents when it comes to the improvement of

Online Banking Services are to strengthen their security because some of the respondents are

anxious when giving their personal information online. They need to be reassured that it is highly

secured and confidential. But for some respondents, they are satisfied with their banks’ services.

5. When it comes to how internet banking improved the respondents’ transactions, some

answered that online banking is much easier and faster in managing their financial transactions.

One even suggested that online banking is good because people are adapting to paperless

transactions thus preventing waste of thousands of paper.

6. In comparison with online and traditional banking, every respondent agreed that online

banking is more convenient than traditional banking because it saves time, energy and effort and

with current situation, it is safer.

Conclusion

1. Majority of the respondents use online banking to transfer money, checking their balance, and

paying their bills while the rest did not answer the question correctly.

2. Most of the respondents’ satisfaction is because of its convenience and hassle-free service that

keeps them safe in this pandemic.

3. Unfamiliarity in technologies and interface of the application were the adjustments done by

some respondents while others were already using online banking before.
4. Few respondents suggested for strong security while vast majority were already satisfied with

their banks’ services.

5. A part of the overall respondents explained how using online banking makes them feel at ease

and how fast it is in managing their financial transactions.

6. In basis of all the respondents’ answers, online banking is more convenient than traditional

banking.

Recommendation

After thorough analyses of the data gathered, the researchers came up with suggestions to

have the study’s additional development and to help incorporate further concepts that might be

beneficial for upcoming researchers conducting related research. Here are the recommendations:

For the Teachers. The researchers recommend to the teachers to expand their knowledge

and to get familiar about online banking for them to avoid mistakes. It also encourages all

teachers to open an account on their preferred financial institution or bank.

For the School Administration. The researchers of this study encourage the school

administration that online payroll through internet banking is a better choice. It secures the

teacher’s safety during this time of pandemic because it promotes paperless transaction and less

physical contact with people.

For Elderly Adults. The researchers of this study suggest that elderly adults should learn

the use of online transaction especially in this period of time. Though it requires an effort for

them to understand, this somehow promotes safer and more convenient way.
 For the Financial Institutions. The researchers advise that financial institutions should

be able to lessen their customers’ fear and anxiety by reassuring them that their personal

information are confidential and strongly secured. In that way, the customers will be more

satisfied, banks will gain more customers and they can become the most trusted financial

institution.

For the Future Researchers. The researchers of this study encourage the future

researchers to promote online banking and broaden their knowledge on it. Researchers also

suggest addressing unanswered aspects.

 REFERENCES

Prabhavathi K., Gsinesh G.P., (2018). Banking: Definition and Evolution. International Journal

of Scientific & Engineering Research Volume 9, Issue 8, Augsut-2018 745 ISSN 2229-5518.

Retrieved from: https://www.ijser.org/researchpaper/Banking-Definition-and-Evolution.pdf.

Frankfield, J., (2020). Online Banking. Investopedia. Retrieved from:

https://www.investopedia.com/terms/o/onlinebanking.asp.

Al Siqilli, M.M., (2020). Online Banking In Time Of Covid-19. Finextra. Retrieved from:

https://www.finextra.com/blogposting/18897/online-banking-in-time-of-covid 19?

fbclid=iwar237-jljvo7pk9r-rrd0oqdglysgpf7srwmrcitzz3u3cfman1lwouihri.

Firdous, S., (2017). Impact of Internet Banking Service Quality on Customer Satisfaction.

Journal of Internet Banking and Commerce, April 2017, vol. 22, no. 1. Retrieved from:

https://www.icommercecentral.com/open-access/impact-of-internet-banking-service-quality-on-

customer-satisfaction.pdf?

fbclid=IwAR2CqI6hN3nYLnS24M7wPSXa04LnlxRgY1jYaL1yMBWGVZwN0FdjKtfEkCY.

Shao, G., (n.d.). The Diffusion of Online Banking: Research Trends from 1998 to 2006. Journal

of Internet Banking and Commerce. Retrieved from:https://www.icommercecentral.com/open-

access/the-diffusion-of-online-banking-research-trends-from-to-.php?

aid=38486&view=mobile&fbclid=IwAR1Vu2jmPlZHxSmkJ0Q5qjBW_uGJulaBBgEGw7QlOu

DruMA4VBtzcnLAE5U.

Ching, M.R. (2017). Challenges and Opportunities of Electronic Payment Systems in the
Philippines. Doctor of Information Technology (DIT), College of Computer Studies, De La Salle

University. Retrieved from:https://xsite.dlsu.edu.ph/conferences/dlsu-research-congress-

proceedings/2017/HCT/HCT-I-006.pdf?

fbclid=IwAR0RrbvoBLbpAWiwO6j2F0MjRAcwPkn6m1Ltoh9c1SxviWIq7uZ8EJbZY68.

Nedumaran, G., Kaleeswaran, B., (2017). Impact Of Online Banking Services: A Study.

Department of Commerce, Alagappa University,Karaikudi ISBN: 978-81-935783-1-5. Retrieved

from:

https://www.researchgate.net/publication/332188449_IMPACT_OF_ONLINE_BANKING_SER

VICES_A_STUDY.

Quilantang, J.J., (2016). Characterizing of internet banking users in Davao City Philippines.

Univ. of Min. Intl. Mult. Res. Jour. vol. 1, no. 1, pp. 40-47. Retrieved

from:https://www.researchgate.net/publication/315487140_Characterizing_of_internet_banking_

users_in_Davao_City_Philippines.

Jerene, W., (2019). Determinants of Bank Customer’s Intention to Adopt Electronic Finance

Technologies in Ethiopia: An Integration of Tam with Financial Risk, Financial Trust, and

Awareness. Journal of Internet Banking and Commerce, August 2019, vol. 24, no. 2. Retrieved

from:https://www.icommercecentral.com/open-access/determinants-of-bank-customers-

intention-to-adopt-electronic-finance-technologies-in-ethiopia-an-integration-of-tam-with.pdf?

fbclid=IwAR1c1Q_iBwkk40E2uEjRdIH3V_I7aFYc3LSU7--q_T_KCglPuyGm-TZRODE.
Goh, M.L., Yeo S.F., Lim K.B., Tan S.H., (2016). Understanding Customer Satisfaction of

Internet Banking: A Case Study In Malacca. Procedia Economics and Finance 37 ( 2016 ) 80 –

85. doi: 10.1016/S2212-5671(16)30096-X.

 Question Respond

1. What Online Banking services do you often 1. Weekly cash remittance to our Church

use? How often is it? during this time of pandemic

2. Bank transfer, 2 times a month

3. Security/Paymaya/Gcash - I use it when the

need arises.

4. Security Bank. I use frequently when

checking balance and transacting money

transfer thru Gcash; sometimes, reloading

(load transfer).

5. Security bank

6. Security bank

7. I usually transfer money (from my

account to another), get my salary, pay

bills and buy something using my

account. The frequency is different. For

example, I’m in-charge to pay for our

internet bill so surely, I need to transfer

once a month. I also use it to pay for my

tuition which happens quarterly so I

cannot really give an exact frequency.

8. BPI, every week

 9. BPI. Twice a week.

10. Security Bank

11. The online banking services I often use

are transfer of funds and bills payment. I

used it everytime i need it like 5-6 times in

a month.

12. I do not use online banking

13. I have the apps for Security Bank & AUB

on my phone. I regularly use it to check

my accounts and pay bills. And if it is

available as an option, I always choose

online banking for my transactions.

2. What causes the satisfaction of teachers 1. Teachers get their salaries direct to their

when using Online Banking over Traditional bank accounts, not obliged to go to school

Banking during COVID-19 pandemic?

2. It's makes the work and transaction faster

3. It is easier and convenient, because it

allowed us to transfer and receive money even

at the comfort of our homes.

4. Well, due to pandemic. I find online banking

satistfying to use in terms of: money

transaction and reloading. I also learned how to

utilize it unlike from the traditional banking.

5. In online banking you can check your

money regularly.

6. Mas lalung napadali ngayon lalu na sa

pagbabayad ng mga bills kumpara sa

tradisyonal

7. Of course, it keeps us safe. I think that’s

the greatest satisfaction we get. We don’t

need to go out and pay for our bills or even

get our salaries. We can do any kinds of

payment in the comfort of our homes.

8. can easily access to know how much is my

balance, no need to go outside to pay bills

9. It is convenient and safe. No hassle.

10. We can easily access and transfer money to

others without going to bank.

11. The convenience. Even if you are in your

house or elsewhere, as long as you have

internet, you can access Online Banking.

10. You dont have to go out and mingle with

other people

13. I find online banking to be hassle-free, I

don't need to go personally to the bank to

withdraw or pay for my bills. It's also very

 convenient that you can just check your

accounts through the app or website. I find it

more safe especially in these times.

3. What adjustments/adaptation did you 1. N/A

employ in using online banking?

2. Familiarisation and ensuring security of my

personal details.

3. The mere learning on how it works in the

beginning .

4. For me, I've adapted how to transact in an

online manner; also, I have managed to check

on my balance and monitor my account

frequently. Which I found very useful and

easy.

5. The adjustment/adaptation I employ in using

online banking is I can use it everytime I need

money for paying bills.

6. Sa panahon ngayon kailangan na mas

maalam ka sa pag gamit ng online banking

nakakatakot kung ma scam

 7. To be honest, none really for I have already

utilized my online banking even before the

pandemic. I just think that how often I use it

increased as we were locked at home.

8. N/A

9. For me to adapt to the new technology I

often use the system on online banking to be

more familiar on the process and its uses.

10. I think the process of making an account

and the transfer of money before.

11. None. Because i've been using it for a long

time.

12. I dont use online bAnking

13. I have to familiarize myself with the

interface of the application. I felt lost when I

used the applications for the first time but I

gradually get accustomed to the interface after

navigating them more frequently.

4. How does online banking improve your 1. fast and easy

transactions?

2. It's makes my work very easy

3. Not applicable.

4. I find it very easy and handy, like for

example that I'd purchase an item online I

could just simply link my account number or

rather transfer an amount to their account

which really improved my transaction.

5. In online banking I can pay bills using my

account.

6. Maraming na improve tulad ng paying bills

at transfer money.

7. It makes transactions fast like with just a few

clicks, I can pay and send money without

leaving my house.

8. no need to go outside to pay bills

9. It helps me to pay without withdrawing

cash. Also it helps me to check my savings on

my account without going to the atm.

10. I can easily check my balance account.

11. It lessens the time i needed to transact. I

don’t need to go to the bank just to do my

transaction.

12. You save time

13. I like how online banking makes my

transactions easier and faster. It's so convenient

that I don't have to personally visit the bank

and queue for hours just to make a transaction.

It's also good that we are adapting to paperless

 transactions thus preventing waste of

thousands of paper.

5. Any suggestions or recommendations on 1. Mobile apps of banks should always be on

how banks will improve more of their Online active status, offline can make one irritated at

Banking Services? times of emergencies

2. Cancel the upcoming transfer fee

3. None at all. I am satisfied with their services

at the moment

4. The online banking that I'm currently using

right now gave me so much satisfaction. I

could transfer money to other banks, pay our

bills (e.g. internet), and even have a reloading

option which I would recommend for the other

online banking to adapt if they happened not

have those yet.

5. I don't have any recommendation regarding

in online banking.

6. Landbank

7. I hope they can improve their security. So

far, with my both accounts, I haven’t

experienced anything bad. But, it makes me

scared using their online services as I hear

phishing issues.

8. always update and give more security in

terms of data privacy

9. N/A

10. Kindly, add some banks to transfer with.

11. None. Because the online banking i am

using caters all the things i need

12. Make it faster

13. Make the transactions more secure. I think

it's always important to have that sense of

security when doing transactions online. If a

bank is vulnerable to security lapses, breach of

privacy or hacking, it definitely makes me lose

confidence to do business with them. It would

be also nice if they have a more responsive and

reliable customer service especially these days

where phishing scams are more prevalent.