Online Banking

 Online Banking

Online banking means accessing your bank account online and carrying out financial transactions through the internet on your smartphone, tablet, or computer. It’s quick, usually free, and allows you to do tasks, such as paying bills and transferring money, without having to visit or call your bank. Many banks have free apps which let you use these services on your phone at any time. 

Facilities offered by Online Banking

  • You can check your bank balance at any time
  • You can pay your bills and transfer money to other accounts
  • You can check any linked mortgages, loans, savings accounts or ISAs
  • You can check your bank statements and go paperless 
  • You can set up or cancel Direct Debits and standing orders
  • You can check on any investments you might have that are linked to your account.

Security in Online Banking

Banks take lots of precautions to make sure your online account is safe. These include encrypted websites, timed logouts, and many authentication processes. Accessing your bank account online is generally safe. You should learn how to use online banking safely to secure your account.

Here are a few tips to keep your account safe:

  • Check your statement often and report any unusual activity to your bank.
  • Don’t reply to emails that claim to be from your bank that ask for personal details or passwords.
  • Always remember to log out of your online banking session.
  • Only use secure wi-fi connections to access your bank account.
  • Public wi-fi connections are often not secure, so it’s important not to use them for banking or to make purchases. 
  • Keep your operating system and anti-virus software up to date.
  • If you notice anything strange on your account, or you accidentally make a payment to the wrong account, get in touch with your bank as soon as possible.
  • Some banks offer instant card freezing, where you can block your card in your app without having to call or visit a branch. 
  • Choose your password carefully – create it by combining three random words and don’t re-use the same one for different accounts.

You can easily set up online banking with the help of instructions provided by your bank or you can contact them to take help with using the online banking services.

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