Technology Banking : CAN YOU BANK ON IT?

Technology has changed our life style. It has changed the way we shopped, the way we communicate with friends, the way we listen to music and the way made money transactions in banks. Gone are the days when we stood in a long queue to deposit cash or withdraw money. People can now withdraw money instantly from Automated Teller Machines (ATMs), make payments online and transfer money from one account to another using mobile phones at any time of the day. The money is transferred in real time. For utilising all these services, people need not go to a bank branch even.

There are many people who are accustomed to technology banking and cannot think of an easy and hassle-free day without it. People need not carry money all the time when going out because they get it any time from any ATM and sometimes they need not go to these teller machines to withdraw money. They can pay for their purchases by just swiping at the seller’s premises.

However, there are many people who are apprehensive of using debit or credit cards for money transactions, their fears are not baseless. There have been many instances in which the accounts of the users were emptied up by fraudsters who managed to get the account details of their victims. 

There are many precautions that one should take for safe and secure online and technology banking. Some time or the other you must have received a mail asking you to send your account details to receive a huge amount of money in your account. The excuse is normally given is you have won a prize for allegedly having participated in a competition you may never heard of in your life. Do not reply to such mails. Never share your personal details such as user ID, password and card number with anyone. Even the banks never ask for your password or pin details. In case you lose your credit or debit card you must get your card blocked immediately by the bank.

When you are using an Internet banking site then ensure that your online banking session is secure. People should ensure that https:// protocol is used instead of http:// on the browser bar.  There are many advanced browsers in which address bars turn green or red to indicate whether the communication with the website is safe or dangerous. Users should check and recheck the website address of their banks for safe online banking because they can become victims of net fraudsters. Never click on a link in an e-mail to take you to the website for online banking. 

Users should look for ‘VeriSign’ which is an internationally recognised digital certification for safe e-commerce sites. Users should use anti-virus software on their computers and it is advised to avoid accessing online banking sites from a public computer.  Users should register their mobile numbers with the banks so that they can get passwords and alerts on fund transfer. One should ensure that they log off from their account properly after finishing their online banking. Banks suggest to read account statements regularly to identify any erroneous or criminal transactions that might have been performed in your account without your knowledge.