How safe is internet banking & tips to keep your bank account safe

Read this article to know how internet banking accounts are hacked or are prone to danger. Read about the steps that you can take to safeguard and protect your internet banking account from unauthorized access.

Internet Banking has become order of the day.
You can just login to your account, input your user ID and password and enter the secured domain of internet banking.

Through this method you can view your balances, transact, pay bills, request for a cheque book, demand draft, make stop payment of cheque, transfer funds, request for a monthly statement, etc. It is a way beyond your conventional banking. Now, banking is available at your doorstep.

Risk and danger to internet banking accounts

No doubt, internet banking has increased convenience for customers, but at the same time this ease and convenience are hampered by the fraudsters. These persons can make your life miserable and vulnerable. Some may try to steal your private information. Others may send you phishing mails asking your credit card number or bank account number with other sensitive details.
Most sophisticated attacks involve the use of Trojans or other spywares to extract the sensitive information. To prevent such frauds, banks safeguard their customers by providing 128 bit SSL encryption technology.
No doubt, the technology is highly efficient; but you also need to take active steps to protect yourself from data hijackers.

Steps for safe banking and to keep fraudsters away from your internet banking account

Always check URL of the bank, if you see anything other than genuine URL of the bank, it is merely fake, done to deceive you.

Never enter your password or user Id before ascertaining that you are on a right website.

Change your passwords regularly-Avoid passwords that are easy to guess like birthday, first name, and telephone numbers. The best way to get a secure and safe password is using the alphanumeric password. These passwords contain alphabets and numbers. It is a perfect way to safeguard yourself from identity theft.
Check internet banking policy-It is necessary to check the internet banking policy of your bank. Some banks provide an additional layer of security that means you cannot withdraw money beyond certain fixed amount. If the amount exceeds particular sum, you need to reenter password to validate the transaction.The internet banking services in India are highly flexible to all customers.
Keep your operating system and browser upto date. Install new connections only from the trusted site.

Remember, it's not your FB account or mail account that you simply exit just by pressing the control tab. An effort must be made to log out from online banking portal. Also, close the browser to ensure that your sessions are terminated.
Install a firewall to prevent unauthorized access of hackers; it is more essential if you connect the internet through cable or a DSL modem.

To keep your accounts secure, banks provide an additional panel of last logged in session. Check the panel regularly, and if you find any irregularities, feel free to visit your nearest bank branch.

Update your anti virus software regularly.

Don't use any embedded links to visit the home page of bank's website. Type the proper URL (http ://) in your browser.

Don't leave the PC unattended, while transacting on a website.

Don't install or run a program from a third party vendor or the person whom you don't know.

Don't fill out form in email messages that ask for private and confidential information like username, password, bank account number, etc.

Don't revert to any mail that is asking for your debit or credit number. No bank will ever ask for such personal information.

Don't select the option in the browser that automatically saves your username and password.

If you have, several bank accounts to operate don't choose the same password for different accounts.

Avoid doing any internet banking transaction through cyber cafes. Cyber cafes are prone to various attacks by hackers. Also, avoid locations that proffer online connections through WI FI, where privacy and security is less than minimal.

Read How to Activate Internet Banking in SBI


Author: Ramchandra10 Dec 2017 Member Level: Gold   Points : 3

Internet banking is safe if you are using secure internet connection by using Firewall, Antivirus and other such security tools in your system. Otherwise, internet banking is not safe at all.

Users should be always alert while using internet banking about his passwords, security codes, personal information etc. If his personal information and bank password get hacked by a hacker on the internet, then there will be a big loss for the account holder who is doing internet banking.

So online banking is safe only when you yourself is alert about security of your bank account. That's all, digital media is always giving fastest service but it should be used carefully always.

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