Image courtesy of skintdad.co.uk
Image courtesy of skintdad.co.uk

There are many people that use online banking, but there are also those that do not because they worry about it being safe. Even those that do use it may wonder about the safety form time to time. However, it is a very convenient thing to use, meaning that you can deal with banking matters without having to visit a branch or go to a cash machine. With a lot of financial institutions closing branches or not having any branches at all, it is really handy to be able to do business online.

It is not surprising that people do get concerned about the security of online banking. It is something which it is wise to be cautious about. You do hear of people having security problems, but you can do things to keep yourself safe.

To start with talk to your bank and ask them what they would advise with regards to safety measures when online banking. Some have software which you can download which works together with your browser to make sure that you data is encrypted so that it is kept safe. You should also have a firewall and a password on your Internet connection to keep things safe that way. If you do not know if you have this or understand how to set it up, then talk to your Internet provider as they will be able to help you.

It is wise to set up really secure passwords that are difficult to guess. The best types do not spell out words but are just random letters and numbers. However, these can be hard to remember, so you could write them down, but keep them safe, certainly not together with any other bank details such as cheque books or cards. Some may ask for details such as dates of birth, mother’s maiden names etc which are things that people could find out. If they do, make things up rather than giving the right information, but just note it down so that you remember and you can get into your account.

It is worth noting that online banking can carry the same risks as telephone banking but even if you do not do either there are still some risks with any sort of banking, this could be due to stolen cards, accounts being hacked etc.

The reassuring thing is that if a bank spots unusual activity on your bank account they will get in touch or prevent further transactions until they can check with you whether it was your activity or not. They will sort it all out and should make sure that you get the money back that was stolen from you. Although it is not ideal that this happens, it can be a relief to know that it will be dealt with and sorted out. It could be wise to ask your bank what it does to help customers in this situation so that you can decide whether you think that they will be able to deal with any problems that you might encounter.