Personal Online Banking- Is It Safe?
I think they are not safe!
So the following guidelines needs to be followed for those considering Internet banking:
- Gather all kinds of knowledge as well as facts about the bank with the help of its Web site. Read the “About Us” carefully. This segment describes the institution as well as the history of the bank, the official name and about the headquarters, and all kinds of information about its insurance coverage as well.
- Keep an eye on the fraudulent Web sites. Know if there is any copycat Web site that use a name or Web address that is similar to the original institution. These sites have a tendency to lure those kinds of customers who might provide their personal information, like their own account number as well as password.
- Verify the status of the bank as far as the insurance is concerned. Customers should keep an eye on the familiar FDIC logo or the words “Member FDIC” or “FDIC Insured” on the official web site of the institution. Some banks that work on the web are not insured by the FDIC, the examples are the ones like those chartered overseas. Customers who go with the transactions with these kinds of bands should know that the FDIC may not insure deposits.
- As far as the insurance purpose is concerned, these banks can adopt a strategy to use different names in order to provide online and traditional services. This statement does not mean that customers are involved in a deal with separate banks. In order to know about whether they are covered by FDIC or not, deposits at the main bank are added along with those at the separately named bank
- The deposits which are deposited by those institutions that are fixed by FDIC are protected by the FDIC.