Friday, October 24, 2008

Useful Tips On Banking Online

By Don Pedro

Before signing up for online banking I'm sure you will want to know how safe your money will be. There are stories that abound of how people have their money stolen via online transfer and other online banking services. It is true that at a particular time during the inception of online banking, great losses were recorded in relation to fraud and theft. However, today banks now use highly sophisticated software that detect fraudulent activities and restrict unauthorized access to your account.

With your online banking account, you can easily sign up for online investing. Online investing requires you to sign up with an online broker in similar manner to which you have signed up for your online banking. This means in a way, you can handle all the transactions involved in your investment account through your online account once you link them together.

If you go the extra mile in making sure the online bank you join is insured, you can be assured that if the bank goes bankrupt you won't lose all your money. Also, ensure to keep all your banking details private. If you can keep your online account details private, you will realize online banking is quite safe. When you make your online account safe, you will be able to enjoy the true benefits of online banking.

If you are a young American who is tired of doing things the traditional way, here is good news for you; you can bank differently with online banking account. Online banking account is a smart way of carrying out banking activities without the usual conventional queuing up, signing checks and answering questions from bank tellers.

If the government is aiming at regulating online transaction, I believe their primary attention will be turned at ATMs and probably wire transfers. It will be difficult for them to entirely monitor the more sophisticated and internet base online banking where value cards are in used.

Thanks to online banking, you can operate an offshore account. There is no limit to what you can do with your offshore account, so far as you know the way to go about it. Offshore banking allows you the opportunity to make deposits, take credits, money transfer, foreign exchange, trade transfer etc. With some of these services you can affiliate your offshore account to a local account that automatically pays your bills. So if you have to move to a less political and economical stable country, you can still run your Account in America as on offshore account.

Do you tend to always overrun your credit and incur excess charges by using your credit cards? With online banking you can now use a debit card or your ATM card to make payment at point of sales terminals. You don't here to incur excess on credit charges when you can spend directly from your account.

Avoid the online account fraud termed phishing. This type of fraud is carried out by an alleged mail from your bank requesting you to carry out activities on your account from a link in the mail. This link will take you to a web site where your account details will be asked. If you fall for these and you input your details you will be defrauded immediately. Watch out don't login to your account from a link in any email. - 15275

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