Exploring Online Banking - Pros and Cons

Online banking is a cost effective way of delivering financial services over the Internet through the bank's secure website.

Online banking , also known as Internet banking, Home banking or electronic banking is basically virtual banking which exists on the internet. It is becoming increasingly popular as it is a cheap way of providing banking services.

Advantages of online banking:

* Convenience - Online banks never close. They are open 24*7 and only a click away.
* Speed - They process and execute transactions quicker than traditional banks.
* Efficiency - You can access all your accounts from one secure site.
* Effective - Online banks offer various tools which help you to manage your assets more effectively.
* Additional services - Free bill payment, rebates on ATM surcharges, credit cards with low rates, free
online checking and easy online applications for personal loans and mortgages to name a few.
* Accessibility - you can access your account from any location and at any time.

Disadvantages:

For most people the biggest hurdle to online banking is learning to trust it and to be sure whether it is secure.The main concern of Internet banking is security, protection of customer's privacy and protection against fraud.
However a lot of people are choosing Online banking as their preferred method of banking as they appreciate the convenience.

Protect your privacy online

It's been raining continuously for the past few days and I am sitting in front of the computer and whacking my brains for something to write. Hey! got an idea! Since I am online for quite a lot online privacy is a major concern of mine. Here are a few things to keep in mind -

Before going online make sure that you are protected from viruses , worms , identity thefts and other forms of computer attacks. Whenever you visit a website look for their privacy policies as websites can collect a lot of information about your visit , like - the kind of computer you use , its hardware and software , what websites you have visited.....

Just make sure that you -

1. Don't share your password with anyone.
2. Do not share personal information over the internet.
3. Do not send your pictures to someone in email.
4. Do not give out your age , telephone numbers, full address over the internet.
5. Don't open emails and files from someone you donot know.
6. Use an effective anti - virus software, anti - spyware and a firewall for your computer.
7. Regularly update these software , as new methods of computer attacks are developed daily.
8. Use encrypted email.
9. Clean your memory cache after browsing.
10. Reject unnecessary cookies.