Internet banking also known as online banking has become very popular over the past decade. It is a great way to control your finances and an easy way to keep yourself up to date with payments. Most of the people now avoid queuing up in banks by accessing their accounts directly from their computers, smartphones or Tablets .
What Does Online Banking Mean?
It means accessing your bank account and financial transactions through the internet on your computer, smartphone or Tablet. It is quick, free and allows you to carry out many tasks like paying bills and money transfer, without visiting or calling your bank. Many banks have free apps which help you use these services from your tablet or smartphone.
Banks Let You Use Online Account To –
● Check your bank balance.
● Pay your bills and transfer money.
● Check the linked loan, savings or Mortgages accounts Or ISA’s.
● Check bank statements and go paperless
● Set up or cancel standing Orders and debits.
● Check any investments linked to your account.
Is Online Banking Safe?
It is generally safe to access your bank account online as long as you enter all the details correctly when making a transaction and follow few rules-
● Frequently check your statement and report any strange activity to your bank.
● Don’t reply to emails asking for personal details or passwords and claiming to be from your bank.
● Always remember to log out of your online banking session
● Use secure Wi-Fi connections to access your account.
● Keep the operating system and Antivirus software up to date
● Create your password carefully by combining three random words and don’t use the same for different accounts.
Accessing your account through smartphone-using a banking app or website is becoming popular. It’s fast and convenient to manage your finances and banks invest a lot in making mobile banking safe. If you accidentally make a payment to a wrong account or you notice something strange on your account, get in touch with your bank as soon as possible.
How to Set Up Internet Banking?
Majority of banks provide online banking services. To find out if you can get access to your account online, check your bank website, call them or pop into a branch. The registration process, for security reasons involves a few steps-
● Visit your local bank branch.
● Have a password posted to you.
● In some cases, a small security device is given which you need to log on.
If your bank is not offering online banking or you are not satisfied with the service provided you are free to switch to another one. Like- Revolut.
Revolut policies and procedures are designed specifically to protect personal information. They store and process personal information using third party service in Secure data centres, protected by firewalls.
Even if you are not having an Internet connection at home, you can access your online account using a computer in a bank branch or a secure connection at a relative’s or friend’s home.