How Safe Is Online Banking

Pros and Cons to Online Banking

In today’s date, most of the money transaction is being done online via the medium of internet banking, mobile banking, credit and debit card. It saves a lot of our time and wires the money from one account to another within a split second. Though convenient, the internet banking has its own hazards which can be extremely troublesome for you.

The online world is a big web, and there is a chance of getting into problem knowingly or unknowingly is always there. The risk gets greater when there is money involved, and naturally, you cannot bear any kind of loss due to the online hazards. Therefore to avoid such disaster, know about the dangers of online banking and know how safe it is actually.

Are Online Banks Safe


Online Banking Safety

The creditability of the security system of several banks has come under scanner time to time due to phishing of the accounts. It is a real risk of any accountholder as the online sharks can swipe away your hard earned money. It is one of the most annoying security issues in internet banking.

Even though the banks have security systems of their own, you need to be precautious too. If your own system does not have a strong spy-ware detection system and elimination program, then you are inviting trouble for yourself.  It helps in keeping the hackers away from your system and prevents their access to your personal information. If you are installing such program in your PC, then be sure to install the latest one.

Unknown emails

How Secure Is Online Banking

It is another menace that can sneak into our personal account if we are not beware of it. The bank doesn’t ask any information from you, but these emails come in the name of the bank with a login link. Do not fall into the trap by clicking on those links otherwise your bank account details can be compromised. It is one of the easiest ways to phish your account details by the swindlers online.

If you ever get such email, never open those and if possible, report to the bank immediately. It is one of the major things that you need to keep in mind while doing internet banking.

Online shopping

Risks of Online Banking

Online shopping has become a common trend today, but you must resist shopping at shoddy places. You might get bargain deals and many more luring offer from them. But if you do any sort of transaction on these sites it is likely that your card details might get into the wrong hands as there is no security system in these sites that protects your data from the phishers. For that reason, you always need to check the authenticity of the website, and it’s payment portals so that your account details remain safe.

Password Variation

Pros and Cons to Online Banking

Internet banking involves a lot of technicalities in it and most important thing while operating your account online is your password.  It is a standard security measure of net banking, but some people tend to take it casually and then invite trouble for themselves. Hackers are always on the prowl, and if you keep simple phrase passwords something related to your birthday or so, there is a huge chance it might get hacked. To avoid this, keep different passwords for different accounts and keep changing them in every six-month duration.

Access account from trusted VPN

Security Of Online Banking

When you are using internet banking or doing any online transaction, it is crucial that the network which you are using is secure and trustworthy.  In case you are accessing your account from any remote location then you might prefer to set a Virtual Private Network of yours which will help you to establish an encrypted connection to your home or office network for accessing your account.

You shall notice a padlock icon somewhere on the browser and then the URL of the site that begins with ‘https’ which is an authentication that your account is being accessed over an encrypted connection. It will keep your account secure from any unwanted external access.

Log Out When Done

Risk In E-Banking

Many people have a habit of shutting the browser without logging out of their account that they use and it is the biggest blunder that they do. It creates an open invitation to online hackers trying to sneak into their account or any third person using the same system. It is a big risk, and you must avoid it at any cost. Whether you are accessing the account through your mobile, laptop or PC, when you are finished doing your work, always log out completely from your account. It is an easy way of staying safe and keeping your account information secure.

Avoid Downloading Bad Apps

Dangers Of Mobile Banking

On many occasion, downloading apps from any unknown site might cause the download of malware also which can hack the data from your mobile. It becomes riskier if you are using mobile banking for doing transactions. These bad apps can corrupt your mobile data and also open a gateway to the third party for accessing your account’s information.  To avoid this, download apps only from trusted sites or Play Store that too after reading the review part and its utility.

Hence you are a habitual online banking user for doing transactions; then these are some of the risks involved in internet banking and the ways to avoid any trouble created by them.

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