Tips to confirm whether an online HIGH RISK CREDIT CARD PROCESSING banking firm is legitimate or not

While setting up an online banking account for the first time, many people may have a few reservations in their mind. This is because anyone could come up with a website and clam to be an online bank, after which they can deceive their customers by running away with all their money. There are a few precautions that can be taken by users to ensure that an online bank is legitimate or not.

Firstly, go through the website of a bank thoroughly. In the website, one can get information given by the bank regarding their banking-related credentials. The name of the bank should be listed officially. There are a number of articles that describe the bank’s history, including their online banking history.

An address of the headquarters should be mentioned on the website. An operation base has to exist, even if the bank is a virtual one. If the bank is a good one, then they will never hesitate to inform users about their FDIC insurance. Users can easily check the FDIC insurance of a bank. In the FDIC logo, if words such as “Member FDIC” or “FDIC Insured” are found, then the bank is a legitimate one and has FDIC insurance. Users can go one step further and verify if the online banking firm is actually affiliated to a federal insurer or not.

FDIC has a database of its own and includes all financial and banking institutions, including online banking companies that have FDIC insurance coverage. The FDIC’s “Bank Find” site helps users find out of a particular bank is covered by them or not. This search can be carried out by typing the name and address of a particular bank.

If your online banking firm is not included on the list then directly go to the FDIC. The FDIC will see if the bank is legitimate of also checks the bank’s safety. It is advisable not to open accounts in a bank that has not been insured. It is best to look out for another online banking operation.

After you have signed up with a virtual bank, it is necessary to be cautious while using the website of the online bank. There are thieves who try to obtain personal and banking information of a user from the internet. This can be done when a user logs into his or her bank’s website.

The fraudsters then set up a site that looks similar to that of your own bank’s website. Moreover, the URL too is similar to the URL of your bank. After this, they wait for users to enter their banking information into their fake websites. All the information typed by you can be tracked by the fraudster. They get access to information such as password, username and other vital information. Hence it is necessary to verify if a particular bank is legitimate or not. The best method for ensuring that you are dealing with dealing with your bank’s legitimate website is to manually type the URL. Contact one of our helpful account representatives to assist you in the setup of a high risk merchant account or offshore merchant account for a high risk merchant.