INTERNET BANKING- AN OVERVIEW
This century is adding more and more new features to human life make it easier. The world of Internet has made the experience of banking easier and accessible anywhere. The various privileges achieved by the members of the various banks are making their transactions using the virtual bank anywhere and anytime without being present physically present in the bank. There are various features offered by the virtual banks in Internet banking such as, keeping a note of the present account balances and transactions, downloading applications and bank statements, Cheque book ordering. Securing customer’s financial account is of utmost importance as these are very prone to Internet hackers. The financial institutions however set up various security processes to reduce the risk of unauthorized online access.
The member subscribed to use the Internet banking gets to use the privileges anywhere, anytime. Some of the privileges are:
- The account balances can be checked.
- Recent transactions of receiving or sending of money can be viewed.
- Bank statements or forms in the pdf format can be downloaded which can be printed and filled. Thus, going to the bank for collecting such items is not required.
- Cheque books can be ordered and even paid Cheque images can be viewed.
- Many applications which are required for Internet and mobile banking can be easily downloaded online.
- Paying and buying of personal investments can be made.
- Electric bills, telephone bills and others can be paid using the online account.
- All the transactions related to loans can be done online.
SECURING THE ACCOUNTS
Anything on Internet is always prone to theft, and when it comes to money, it is always given the first priority. There are quite a number of good thieves who are always ready to peep into other people’s accounts to extract their money leading to theft. So, securing the online account is of utmost importance. This is the reason why there are unique user id’s and passwords. Several banks use several methods of securing the passwords. The PIN/TAN method is one such method which consists of PIN which is the password used for login and the TAN which is the one-time password used for transactions. Some online transactions have to be signed which are encrypted digitally for maintaining the authenticity of the user.
TIPS DURING ONLINE BANKING
The users must always be alert while using their accounts online and must always keep in mind that they are being watched by someone which would make them more alert. Some of the tips to be followed while using the Internet banking.
- Symbolic keyboards if present should always be used while logging from public computers.
- The passwords should not be revealed to any person including bank over phone or e-mail.
- The bank never sends e-mails requesting e-mail id, passwords or other sensitive information, so the customer should be very careful regarding such fraud mails.
- The website links or attachments in suspicious mails should not be clicked. The may lead to replica of bank website and may ask for keeping log in id and password.
- To ensure safe and genuine login always the official websites must be visited.
- In case of a call, it should be confirmed that the call is from an authorized person.
Following these tips would ensure smooth and safe Internet banking.