Security tips for safe online banking
It’s interesting to see how in the last 4000 years the concept of banking has grown and yet in many ways it not changed at all. Banking can be first traced to around 2000 BC, in Assyria and Babylonia (Iraq); from there the concept traveled to ancient Greece and Rome. At the same time similar but independent money lending practices were developing in ancient China and separately in ancient India.
Over time and with much advancement, 21st century banking has become hassle free … well almost. We are able to access our investments and savings from the comforts of our home or wherever we may be, through the internet or even through our mobile phones.
Following its debut a decade ago, online banking has become one of the fastest-rising activities online. For it allows customers to easily conduct financial transactions through a secure website, operated by retail or virtual banks. But like all good things, online banking has its own drawbacks.
So the question worth asking is, “Is Online Banking really safe”? The answer is both yes and no, because as with all things there is no foolproof way to secure yourself. But banks like RAKBANK come close, as they constantly develop innovative ways to secure your hard earned money from online threats.
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Don’t forget, safe banking online involves making good choices that will help you avoid costly surprises or dangerous scams. So, here are a few tips to keep in mind for a safe online banking experience:
Is the bank legitimate? Confirm it!
When selecting a traditional bank or an online bank that has no physical offices, make sure that it is legitimate.
Watch out for fraudulent Web sites
These Copycat Web sites deliberately use a name or Web address very similar to a real financial institution. So check the site carefully.
Guard Your Privacy
Once you become an online customer, ensure that you review the privacy policy of your bank to learn what information the bank keeps about you, and what information, if any, it shares with other companies.
Take advantage of security features available
Encryption is the process of scrambling private information to prevent unauthorized access. To show that your transmission is encrypted, some browsers display a small icon on your screen that looks like a “lock” or a “key” whenever you conduct secure transactions online.
Virtual Keyboards
If your bank offers you the feature of a virtual keyboard that you can use during login. Kindly use the same. Certain
Passwords or personal identification numbers (PINs) should be used when accessing an account online. Avoid sending account numbers, through unsecured e-mail and make sure your password is unique and make sure to change it regularly.
Never give out your credit card or debit card number, unless you are initiating the transaction.
Utilize General security option on your personal computer, such as virus protection and physical access controls and update them regularly.
Check out Rak Bank’s new exclusive online range of banking and insurance products. It’s banking on your terms. RAKBANK provides online banking, insurance, savings account, credit cards, loans, mortgages, wealth management, investments, mobile banking UAE and lot more.
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