Online Banking guide



Online banking is a growing trend in the financial industry. Bank of America alone has nearly 30 million customers utilizing their at-home banking service. Today, online banking has grown from a simple way to log in and view your bank statement, to conducting all your bank transactions with a click of the mouse.

Passwords
When creating your online banking account, be sure to answer all the security questions with answers that you know but that are not obvious to other people. Select questions such as "Mother's Maiden Name" or "First Pet" because people cannot guess these things easily - unless you're posting about them on social networking sites. Also, choose a password that contains a variety of numbers and letters so hackers cannot access your account.

Services
Online banking provides a number of services. You can view all the bank accounts you have with the bank in one convenient location. Money can be transferred from account to account as well. Many banks also offer bill paying, where you can automatically link your bank account to such companies as the cable or electric company to set up automatic payments directly from your account.

Differences
Online banking is part of electronic banking, but it is not the same as using an ATM or banking by phone. ATMs require a visit to the ATM machine to withdraw or deposit money, whereas you can use online banking from anywhere that has an Internet connection, using a computer or smartphone.

Alerts
Mobile banking is popular because alerts can be sent via text message to your phone daily with the balance on your bank account. Online banking also offers a similar service, which sends alerts to your email account. You can also sign up to have a monthly or weekly bank statement emailed to your account.

Security
Avoid using an unsecured network or a public computer when conducting online banking, doing so is unwise. If you must, make sure you log out completely from your account when you access your band account via an open network or public computer. This way, no one can access your information. When using an unsecured Internet or public connection, be sure that your firewalls are on so no one can access your information.


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