5 Tips to follow while banking online

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By: MarieGarcia
on 21st Jun,2011

With the help of online banking, you can just login and make your financial transactions without having to step out of your home.
5 Tips to follow while banking online


 

Online banking is undoubtedly an easier option to manage money in comparison to traditional banking transactions. With the help of online banking, you can just login and make your financial transactions without having to step out of your home. However, you need to take certain precautions so as to avoid being a victim of identity theft when you opt for online banking. Read this article and make yourself aware of 5 tips to follow while banking online.

1.  Give passwords which are difficult to guess

Thought it is relatively difficult to remember several passwords for different accounts, yet you shouldn't give one that is easier to guess. It is better to include letters and numbers in your passwords. While keeping a document of your passwords in your computer, make sure you password protect it. Moreover, change your passwords at regular intervals.

2.  Opt for automatic identity-theft protection

There are many credit card companies which offer automatic identity-theft protection. Whenever you find any wrong charges in your statement, make sure you bring it to the attention of your credit card company. It will investigate about the fraudulent charges on your behalf. However, you may have to pay an extra charge for such services.

3.  Avoid talking to cyber people you don't know

You may get e-mails asking you to click on hyperlinks; by doing so, you may make your personal information accessible to cyber hackers. Even if you receive an e-mail from a known institution such as your bank, it is always better to go to your bank's website instead of clicking on the link from the mail. It is also advisable to not open suspicious attachments even from your friends; you never know, your friends' accounts may also have been hacked.

4.  Check account statements at regular intervals

One of the greatest advantages of banking online is that you don't have to wait for the month end to check your account statement. You can check it whenever you feel like. So, it is advisable that you check your account statements at regular intervals and inform the bank immediately if you come across any discrepancy.

5.  Opt for online documents instead of paper documents

It is always better to use online documents instead of paper documents. Apart from being safe, you can save the environment by opting to get financial statements through e-mails instead of getting paper documents. Even if you have to use paper documents, make sure you destroy them when you don't require them anymore. This is because scam artists often try to get clues from your bank statements and your other financial paperwork to steal your personal information for their own financial gain.

In addition to above, never ever give out your SSN (Social Security Number) to anyone without verifying whether or not the organization is a reliable one. You may be rest assured that it is a scam if any website asks for it at the checkout process. In short, it can be stated that never ever give out your personal details if you're not sure whether or not it's safe to do so. Moreover, even if you become a victim of identity theft, report it fast so as to avoid hefty charges on your financial accounts.

 

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