How to Keep Online Banking Safe

Online banking is one of the latest developments in banking. Instead of going to the bank every time you need to withdraw or deposit money, do balance inquiry, and pay for products and services that you purchased online or through the internet. This means savings in the customer’s time and money.

If you need to pay for something that you purchased from someone who lives in another city or country, you can do it instantly as long as that person has a bank account. All you need is that person’s account number and you can transfer funds from your computer or mobile phone to the account of that person. You do this while relaxing in your home or doing your job in your office or anywhere you have access to the internet. As soon as you hit the send button, whatever amount you are sending will automatically be credited to the recipient’s account. If he is doing online banking as well, he can see that the balance in his account has increased as the amount that you sent has been added to the previous balance.

However, recent cases of hacking have caused people to lose money in their online bank accounts. Complaints about withdrawals that were not made by the owner of the bank account have caught the attention of the media and of the banks and depositors concerned. What used to be considered as the safest way of keeping your hard-earned money has become a great concern.

Cyber theft is a term used to refer to stealing money from online bank accounts. Despite the use of the PIN or personal identification number or passwords, some computer-savvy people are still able to rob banks of the money deposited by their customers. These thieves may have gotten your bank details from documents that you have carelessly left lying around or from the online transactions that you have made. For example, you made a balance inquiry and forgot to close the page where you did the transaction. Or a hacker has entered the bank computers and randomly picked accounts to rob.

Taking some precautions will prevent such thing from happening to you. How?

Although we live in an almost paperless society where everything are done and kept in a computer, there are still documents that we must fill when we open a bank account. These papers may contain your bank account number and other personal information that hackers can use to open your account. Losing these documents will put your account in great danger. To be safe, memorize your password and personal identification number. All documents related to your account and other transactions must be destroyed. The best way to do this is by secure paper shredding. You use a shredding machine to ensure that no one else could find any information from those documents.

Bank appliances such as computers become old and must be replaced. Most of these computers are sold as secondhand items. For the safety of the bank and all its clients, all information that has been stored must be deleted prior to appliance recycling. This will prevent anyone from find information related to people’s bank accounts. Let us take these precautions to have an absolutely secure online banking.

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