Five Tips for Safe Online Banking

The traditional banking method can be excruciatingly dull. When your employer pays you, you have to figure out when your local banking branch is open, run down there, and then wait in the long line full of people with questionable hygiene practices, just to deposit your check. If you ever need to withdraw some of your own money when you are out, but are unable to find an ATM machine that is owned by your bank, you will be penalized. In fact, your brick and mortar bank is probably charging you all kinds of hidden fees, such as:

-          Minimum account balance fees
-          Check fees
-          Dormancy fees
-          Overdraft fees
-          Transaction fees

You didn’t open an account with your bank to have them slowly sneak all of your money away from you. But, what are you supposed to do about it?

Hundreds of accountholders, tired of their banks hidden fees, have switched to an online checking account. These accounts include all of the advantages of a traditional checking account, but come with even more benefits and are lacking in many of those annoying little fees.

With online banking, you have access to your account from anywhere you are able to get an Internet connection. You can write checks using the funds from your online checking account, and you are even able to use a debit card. You will get annual eStatements detailing your account history, plus 24/7 customer service in case you have any questions.

But just how safe is Internet banking? Wouldn’t it be pretty easy for a hacker or an identity thief to take advantage of an online account? Online accounts just make banking so darn easy, isn’t there anything that you can do to make sure that you are doing your online banking as safely as possible?
The truth is that online banking is very safe. Credible online banks will be backed by the FDIC, and have layer upon layer of software protection. But if you are still worried about the safety of your Internet account funds, here are 5 things that you can to further protect yourself:

1. Never share your account login information over the phone or via email. Your personal account information is for your eyes, and your eyes only.
2. Never use a public computer to access your online bank accounts. The computer will hold onto your information making it easy for some low-life to wreak havoc on your bank accounts.
3. Never open a strange link from your email inbox, especially one that claims to be from your financial institution.
4. View your online account’s transaction history frequently in order to catch any suspicious behavior should it occur. When you know what is happening with your account, you will be able to catch problems quickly, which will save you a lot of stress.
5. Invest in personal security service. These programs will alert you whenever anything major happens with your account, like when a new one is opened or a major transaction takes place. This will allow you to take action if someone takes advantage of your funds.

Internet banking is very safe. The increase in demand for these kinds of accounts will only allow them to become even more protect in the years ahead. Protecting yourself from thieves is simple, but it does take some careful planning and attention.

This article was written by Carletta Wellman, a small business owner and tech enthusiast. Carletta lives in Massachusetts, with her husband, where she operates her own business. Carletta is interested in technology, business banking, online checking account, mortgage bank and cooking.