Electronic banking, which is also called "online banking," is a great way to do your banking without leaving home. With the extra security features that are available today, this is also a safe way to do your banking. But you need to be careful with everything you do "online."
Electronic banking is just doing your banking on your computer instead of going to the bank. With online banking, you can put money in or take money out. Once your accounts are set up for online transactions, you can also use it to pay your bills.
Online banking can be used for both personal and business banking. As more and more work is done around the world, online banking is becoming more and more popular. In fact, many people do all of their banking online and never see a paper check again.
For electronic banking, you need to be connected to the internet and have a computer. Even though a dial-up account will work, it is better to have broadband internet. The account must also be set up with your bank. Once you've done these things, you can just click a few times on your mouse to get to your account. The best part is that you can get to your account at any time, day or night.
This unlimited access to your account lets you check your checking account balance, see which checks or bills have cleared your account, and, if you want, authorise payments to utility companies.
You can also use online banking for other types of accounts, like checking on your savings account. Most banks will let you set up online accounts for all of your accounts, and they will keep them separate for you so that you don't get confused.
There are a few things to watch out for when you bank online. First, you'll be asked to set up a username and password for your account. You shouldn't ever tell anyone else about this. If someone has this information, they can get into your account and cause you all kinds of trouble. You should be as careful with your password as you are with your ATM PIN.
Most banks will never call and ask for your password over the phone. They will also never ask you for that information in an email. If someone calls you and says they are from the bank, don't give them your password. Instead, tell them you will call them back and get their name and extension number from the bank. Then, call your bank at the right number and ask to speak to the person who called you. This way, you know you are talking to the bank and not someone who is pretending to be from the bank.
If there are any mistakes on your online bank statements, you should call the bank right away. If they need to, they can stop payment on something that looks suspicious or that you didn't give permission for.
Online banking is a great way to save time and energy, and because it is so safe and secure these days, it is well worth the work it takes to set it up. You'll love it once you try it.
