There is absolutely no doubt that online banking is here to stay. With its convenience to you, the constomer, and the lower operating costs for the banks, online banking is a win-win proposition for everyone involved. With that said though, there are some dos and don’ts that everyone needs to be aware of when opening up or maintaining an online bank account.
Dos
Do be sure that the online bank you’re doing business with is FDIC insured. If they are not, move on to a different bank that is. FDIC insures that all savings accounts, checking accounts, and CD deposits are covered up to $100,000.
Make sure that when you go to the online bank’s website that you’re on the real website. Believe it or not, Internet criminals have designed websites that appear to be similar to the banks website in hopes of tricking you into getting your personal information. You don’t want this to happen to you.
Do look over all your bank statements, credit card statements, etc., to be sure everything looks right and is legit. Talk to your bank immediately if you find any errors or see something that is questionable.
Do keep your password and account login information safe and secure. Never share this information with anyone, especially through an email. Also, try to never use any common passwords like birthdates, names, or social security numbers.
Do be sure you use an anti-virus protection software on your computer at all times. It’s also a good idea to back-up your files on a regular basis. You really don’t want to take chances in this area.
Do log out completely from your bank’s website when you’ve finished with your transactions.
Do change those auto-generated passwords you are given when you first open up an online bank account.
Do find out all the information you can about your online banks security. What kind of protection do they offer? How does that line up with other banks?
Don’ts
Don’t ever send any of your personal information inside an email, no matter how secure you think it may be.
Don’t give out your personal information over the telephone unless you are absolutely certain of who you are dealing with. You also need to know what this person is going to do with your information when you give it to them.
Don’t have other browsers open at the same time you are doing your Internet banking transactions.
Don’t open up emails from banks that you don’t do business with. If you do get an email from your bank asking you for personal information, call the bank first before doing anything else. Ask them about the email and find out what is going on. If it is legitimate, which I doubt it is since banks don’t conduct business like that, then you can take care of it right there over the phone.
Online banking is great. I have been doing it for years without a problem. I can’t imagine doing it any other way now. If you will follow these simple dos and don’ts, you’ll also enjoy the same trouble-free online banking as well.
