Banking Online: Tips To Help You Bank Safely
July 17, 2007
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Sometimes you may need to access and manage your bank accounts long after the bank has closed for the day. Internet banking has become the answer to this inconvenience. But, just like everything else you do online, care and caution should be taken. Knowing how to stay safe when banking online will save the user unnecessary headache.
Most banks nowadays have websites where customers can access their accounts via the Internet. There are also fraudulent websites with the same names as reputable banks that seek to take your money. These scams can rob you of your hard earned cash.
Is your online banking institution insured? Banking institutions and websites that display the “FDIC” initials are insured. This means that their monetary deposits are backed by the federal government. Deposits up to a certain dollar amount are guaranteed federally if something should happen with the bank.
Banking institutions that are chartered outside the United States may not be federally insured. This means that your deposits may not be safe in the event that something goes wrong. Check with the banking institution to find out whom, if anyone. insures their funds.
Institutions require passwords for customers to access online accounts. Most banks require that the customer apply for online banking access in the bank. They will have to provide proof of identity and the account numbers for all of their accounts. In a couple of weeks, the customer will be sent a password and login so that they can access the online account the first time. After that, passwords can be changed to something the user can remember easily.
Be sure that any page that contains personal information has a small lock somewhere on the page. This ensures that the website page is secured from third parties that may try to access your information. After you finish your online transactions, close your browser page completely. Some will prompt you to close this page when you go to log off. This is another safety precaution to make sure that your information is not stolen.
If you are using wireless access for the Internet, use your own connection when accessing banking accounts. The use of an unsecured wireless connection allows your information to possibly be seen by another party also using that connection. Your information could be accessed and stolen without your knowledge.
Knowing your rights as a consumer will save time and money. You can search the FDIC online database for the name of your banking institution. Know the proper email address of your bank to avoid being taken in by an online banking scam.
To learn more, check out the Mom’s Talk eBook’s Guide to Family Budgeting - Step-by-step guide to help you establish a workable budget.
Posted by admin | Filed Under Money & Finance
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