What is Online Banking & Is it Safe?

oday with the advent of technology and advancement especially in the field of internet and computing; one will not have to stand in the queue for long hours to do his banking tasks. Today, most of the banks, whether public or private, provides with the facility of internet banking or online banking. Other than mere banking activities, online banking also provides the facilities like bill payments, fund transfer across other bank accounts, manage savings, and various others. With the advent of online banking or internet banking, the customer can avail the banking facilities from any corner of the world. He does not need to visit the bank branch to do his job done. Rather he just needs a computer and an internet connection for having his banking done.

When a customer opts for online banking he is provided with a user identification number and a password that he needs to enter every time when accessing his bank account through the bank website.  But many people today question about the safety and security of online banking. Yes, online banking is totally safe and secure, only that you have to remember certain thumb rules to operate your account through the internet. Certain things must be kept in mind when you opt for online banking.

• Firstly, when you are accessing your account on the internet, you should never do so from a public computer like a cyber café or someone else’s machine. Malwares and spywares can be present on the machine that can track your online transactions.
• You must have a regular check on your online account to make sure of any unusual transactions.
• You must never disclose your online account password or more accurately the PIN number (personal identification number) to anybody, no matter who he/she is. You must not disclose it even to people who claim to be from the bank. You may be asked to verify your address, birth date or other information but it must be kept in mind that a bank never asks you to verify your PIN number.
• The password or PIN number must be strong enough for anybody to make a guess. It must not be any personal information like anniversary or birthday or name which is quite easy to guess.
• Your personal computer or laptop through which you access your bank account must be kept safe with proper antivirus and updates in order to keep it safe from hackers.
• Do not respond to mails that you receive with a subject related to your online banking that drives you to some other websites other than the actual bank website.
• You must keep all your electronic receipts and fund transfer bills so that it can be verified later, if needed.

If the above points are kept in mind online banking can be much safer than the usual banking process, and most important it helps you a lot by saving your time and providing with several facilities that you cannot opt for in a general bank account.