by Istvan Online banking has changed the way people bank. Net banking has proved to be useful for both individual customers and small businesses. Toda
Online banking has changed the way people bank. Net banking has proved to be useful for both individual customers and small businesses. Today many banks claim that more than half their customers bank online. Initially, security was an issue. However, banks have improved their security and their efforts have paid dividends. Today, it is considered quite safe to bank online.
Online banking offers numerous advantages to customers. First, with personal online banking you have 24/7 access to your account. And this is all year around. So no matter where you are, if you have access to the internet, you can always check your finances.
Many internet banking services offer their customers the tool to pay bills online. So you do not have to mail in your bills or go down to the office to pay your bills. Just access your online bank account and pay all the bills with a simple click of buttons.
Online services also let you check balances, transfer funds and buy financial products. So if you have been thinking about buying that insurance, you can simply pay for it online. You can do this from the comfort of your home or office. Even if you have to transfer some funds to your mother’s account, you do not have to go down to the bank. Basically, online banking has made banking very convenient.
Some online banks even let you trade off the balance in your savings or current account against your borrowings. This helps to cut the interest on your mortgage. In these hard times, you might want to consider this option.
Online banks also offer their customers better deals on online credit cards, mortgage deals, personal loans, and saving accounts. They are able to do so because online banking is cheaper than traditional banking services. Online banks are thus able to pass on the savings to their customers in the form of excellent deals.
Internet banking is probably one of the best things that have happened in recent years. However, as a customer you have to be careful about the following security issues.
-Make sure that your online bank is using an encrypted site for online banking transactions. If your bank is using Secure Sockets Layer (SSL) technology for encryption, you can be rest assured that the data that you send or receive cannot be read by anyone else.
-Beware of “phishing” emails. These are mails that request for your password or some other financial information. It is hard to recognize these emails because they just look like the official emails that you get from your bank. The only difference is that phishing emails ask for your personal financial information. Never provide your username or password and never click on the link provided in these fraud emails.
-Never write down your password or PIN number. Always remember them in your head. Never email them.
-When selecting a password, never go for the obvious. Use your mind a little bit and come up with something extraordinary. This way no one will be able to figure out your password.
-Always close your internet account after you have finished banking to prevent anyone else from accessing your bank information.
With these handy tips you can always ensure that your online banking transaction is secured.
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