How to ensure safe online banking?

Online banking can be a great convenience as long as you keep a few things in mind.

08:53 11 September 2013

Technology emerges faster than the blink of an eye it seems, so it’s no surprise that more and more people turn to online banking and mobile banking to take care of their financial needs. Online banking is much more convenient for busy individuals than trying to find a branch bank that is open at convenient times. If you have not tried online banking yet, here are a few things to keep in mind before you begin:

• Fees—many banks provide Online banking can be a great convenience as long as you keep a few things in mind. options as a free service to their customers, but this is not always the case. There are some banks that may offer particular online services free of charge and others that may charge a monthly fee for the ability to do any type of banking online. Still other banks may charge a fee per transaction.

 

• Processes—while some of the online banking processes are much more convenient to initiate, the actual process may not be that different. For an example, if you choose to set up automatic bill payments from your banking institution they may actually cut a check and send it to the company you are paying. This means that a payment could still take the same amount of time to process as if you had mailed it. Be sure to know how your bank processes and allow sufficient time to prevent negative marks on your credit rating. 

 

• Security—one of the concerns many people have about online banking is whether or not the information is secure. Just like any other internet-based transaction, or even a traditional transaction there is always an amount of risk. Most banks take exceptional care to ensure the security of their online banking. To make it more secure, do not save your login information, always log out of your banking page, and close the tab or browser completely.