10 Precautions you should take while using internet banking

In today’s world of internet connectivity, a number of tasks which used to take a lot of time are done in a matter of seconds. Whether it is bill payment, online travel ticket booking, hotel booking, online shopping, fund transfer, opening an FD account, paying credit card payments, loan payments or anything related to finances, everything is now at your fingertips.

But every coin has two sides so does internet banking services too. A small mistake can cause you dearly in terms of financial losses which can further result in mental harassment. To be on the safer side, it is very important to keep a few tips in mind. We are hereby specifying a list of 10 precautions that one should adhere to while using internet banking.

1. Never use a public computer: Unless and until it is very important and urgent, never use a public computer to log in, to your banking website. When you are in a public place, key loggers, malware, and viruses can result in leaking of your private information related to banking. In case you have to login in, a public area, make sure to use the virtual keyboard and clear temporary files and cache before you leave. Also, never save your username and password in the browser.
2. Change password at regular intervals: Most of the banks ask for a password change every 3 months, but it is ideal to change the password more frequently than that. Also, make sure to remember the password instead of noting it down somewhere. Keep the password a combination of alphabets, numbers and special characters.
3. Never share your details: No bank employee will call you and ask you for the personal information which can be used to change your online password. Most of the banks now send an OTP while changing the password so make sure not to share it with anyone.
4. Keep an eye on the balance: Ensure to regularly check the balance in your account. If there is a minor change in the account activity which you do not recognize, inform the banking officials immediately.
5. Use antivirus: Make sure to purchase and regularly update a licensed anti-virus with internet security. Do not disable it while browsing especially when you are planning to log in to your banking website.
6. Do not click on links in an email: Phishing is quite common criminal act in which the con artist pursues the bank account holder to enter login information on a fake website. Thus, if you receive an email from a bank claiming some hack or unauthorized transaction in your account, do not click on the link.
7. Type complete URL of the banking website: Never use a bookmark or save the link option to open banking website. Make sure to type the complete URL and only then login to your account.
8. Disconnect internet if not in use: It is a common habit to leave the internet up and running even if it is not in use. Prefer to shut down the modem when you are not browsing the internet.
9. Enable SMS alerts: Contact your bank and get mobile banking activated with SMS alerts so that you get an alert every time a transaction is made from your account.
10. Save bank’s customer care numbers: At the time of panic, it is impossible to find the right number and extension to file a complaint with the bank. It is better to save the associated numbers in your phone for any emergency.

Internet banking or ibanking is a useful technology which can save a lot of time and money. Use it wisely and enjoy the benefits of banking right from your home.