Is Internet Banking Safe?
Internet banking has become a convenient way for consumers to do their banking without the hassle of standing in line and holding on the phone. Internet banking is available 24 hours a day and makes it a very viable option for busy people. As with anything, using prudence over the Internet is imperative to ensure your money is safe.
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Legitimate Banks
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It is easy to determine if a bank is legitimate by inquiring on the FDIC status of the institution at FDIC.gov. The FDIC insures deposits totaling $250,000 or less whether a bank has physical branches or just an online presence.
Personal Responsibility
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Make sure that your user name and password are kept private. Use only a secured network to log in, don't share information with others and use a password that is not readily associated with you as birthdays, pets or kids names are.
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Similar Bank Names
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A lot of fraudulent web activity is successful because people do not verify website legitimacy. Any emails asking you to follow a link and log into your account for servicing may be taking your information, so always log in directly via your web browser.
Secure Socket Layer
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Most banks utilize a highly secure server that cannot be hacked into unless a person has your username and password or hacks into your system. This security service is called a Secure Socket Layer and can be confirmed on the bank's information page.
Security
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While the banking system is still highly secure, personal computers are not, and people who do not have a strong understanding of computer skills are vulnerable. While there are ways to maintain security with Internet banking transactions, there is still a long way for technology to go to make it very safe.
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