How to make the most off your online banking
Online banking, also known as internet banking, allows you to your banking outside of branch opening hours from anywhere you have access to the internet.
It is one of the simplest and most efficient ways to both monitor and manage your account. It is likely that the banks, building societies or credit unions with which you have an account, offers the internet banking facility. By simply registering for this facility online, you will be able to do the following from the comfort of your home or office:
- View your statement
- Pay a bill electronically
- Transfer money between your savings account and your current account
- Transfer money from your account into another account
- Monitor all accounts in one place
- Apply for a loan
- Change your personal details
Fraud is an obvious concern associated with online banking, as it is technically possible for hackers to get access to your account. However, statistics have demonstrated that the chances of becoming a victim of online fraud are relatively minute. This is because of the high security measures taken by banks and building societies in order to prevent this: It is not possible to access internet banking with just one single password authentication. Most banks impose a second layer of security which usually comes in the form of a second password, for which only random figures are requested to be entered at the start of every online banking session.
Online banking is free, and if you’re fairly familiar with computers and the internet, you’ll find it easy to use. So what are you waiting for? Register today!Next Article: Pensions