Online Banking: Consumers Choose Security

By: Anne

This article is for people who have a computer and at least one credit card. The matter is those who have both the devices, can manage their finance pretty well with the help of online banking services. It is not only online credit card applications . Banks also offer online access to your credit card account, online credit card payments and other ways of your credit management.
Why do banks promote online banking so actively?
* It is quick and convenient. You do not have to spend your precious time on going to the bank office, filling out and posting numerous papers etc. You just make your payments, receive your detailed statements and make other operations via the Internet, at the site of your bank. A statement will be sent right to your e-mail or you will have access to your personal online account.
* It is safe. Banks maintain that all the online operations - applications, payments etc - are safe and secure. The pages where you enter your personal information are protected by data security protocols (Secure Sockets Layer, for example).

Thus, the information is encrypted to be unavailable for abusers. Statistics show that identity theft via stealing bank mail is more frequent than via the Internet.
* It is cheap. Banks have a special interest in developing online banking because it reduces the costs. All the operations and processing is carried out electronically. The company does not have to hire personnel, rent or buy new offices and equipment. Besides, online services are time-saving. Customers are also stimulated to do banking online: for example, they are not charged fees for payments. Besides, one is not supposed to spend extra money on mailing or trips to the bank.
Everything seems extra-advantageous! But some people still hesitate about choosing online banking instead of traditional services. These are the reasons:
* It can be not quite safe sometimes. Banks really do their best to provide outstanding security of their web-sites and convince people in safety of the services. However, there are numerous viruses and Trojan programs spread in the net, and in case of weak anti-virus software on your computer, your data can be hacked. There are also fake bank sites (they look like genuine sites, but addresses differ) and malicious emails that can be spoofing for consumers. However, the risk of identity theft is higher if you receive credit card statements and send applications through the mail.
* Computers and Internet can sometimes fail. Besides, you cannot control the operation after you enter all the data and click 'Submit'.
* The danger to your safety also includes the danger of losing money and time.
As you see, all the benefits of online banking have dark sides. Each of us should decide whether to sign up for it or go on using traditional banking services. Independent of your decision, banks will go on promoting online services as a modern and cheap way to serve customers.

Banking
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 
 • 

» More on Banking