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Online banking – the do’s and don’ts
In recent times, the biggest development
in the banking sector is the arrival of
internet banking. Internet banking has
given a whole you perspective to the way
in which customers carry out their
banking related transactions. Moreover,
this facility has led to banks lowering
their costs significantly. However,
there are a few do’s and don’ts
associated with internet banking that
people need to know before acquiring an
internet banking account.
Do’s – The first thing to be done is to
check whether the bank you are doing
business with has FDIC coverage. This is
essential and if a bank is not FDIC
insured then consider moving on to
another bank. With FDIC insurance, all
CD deposits, checking accounts, as well
as saving accounts are covered.
The next thing to be done is to check
whether the bank’s website is the real
one. In many cases, online thieves and
criminals come up with fake websites
that have close resemblance to the real
ones. By doing so, they cheat customers
by obtaining their personal information.
Credit card statements, bank statements
should be seen carefully in order to
check if everything is alright. Is
something looks suspicious, then
immediately contact your bank.
Always ensure that your login
information and password is in a secure
and safe place. This information should
never be shared with anyone, your spouse
inclusive, especially through e-mails.
The passwords should not consist of SSNs
or birth dates since they are easy
give-aways. In addition to this, it is
necessary to protect your computer with
software such as anti-virus protection.
It is advisable that you keep a back-up
of all your files. Also, remember to log
out from your account completely when
you are done with the session. This will
ensure that nobody can access your
banking account.
Auto-generated passwords that are given
when you first acquire your online
account should be changed. Above all, it
is essential to update yourself about
the security measures taken by your
bank. Compare these measures with that
of other bank security systems.
Don’ts – Never send across your banking
information through an e-mail as this is
not as secure as you think it is. Do not
give personal information over a
telephone unless you are certain about
the person being dealt with. It is
necessary to know what that person will
do with your personal information.
No not open other browsers
simultaneously while carrying out
transactions online. Moreover, it is
important to ignore e-mails sent from
unknown people. If an e-mail is received
from a bank asking for your personal
information, first call your bank to
verify if the details are actually
required or not. Usually, banks do not
ask their customers for their personal
information via an e-mail.
Opening an online bank account is a good
idea. It is not only convenient but also
faster than traditional banking. Keeping
in mind the dos and don’ts of internet
banking, customers will sure have a
pleasant experience using the services
offered by internet banking. |
