All About Online Banking

All About Online Banking

This is one of the popular phrases, that even a young 10 years old will understand about! Yes, online things are most hit among the younger generation, as its real quick in real time. In the olden times, banking procedures involved that we go to the bank, write and fill forms and get the things done; but now it’s different.

You just need to get a few clicks and you are done! Adding money to your account from another one, money transfers, demat accounts and even transferring money to your trading accounts is much simpler. That’s the reasons we see many online trading platforms are on the rise, as everything is possible in just a few clicks.

With the rise in the cryptocurrency markets, many people are flocking to trade the coin and make huge profits as the coins are volatile every time. But, not all that glitters are gold, thus not all the online platforms are genuine and good. only a few are legal and genuine, here to help you in your trading journey, with automated robot systems, that are equipped with algorithms. You can learn more about it here!! Read about the best sites to trust your money with!

So, let’s learn more about another such online change, that transformed the way we transacted with our money.

What is online banking?

We know that many of them know this, but there are a few who might not know the real meaning. In a nutshell, online banking means carrying out any financial transaction from your account, accessing your account too, via online; using a computer, laptop, mobile or any other electronic device that supports the app.

Here is what you can by accessing your account online:

  • Check the balance at any point in time
  • Bill payment and transfer of money to other accounts across the globe
  • Check for loans, mortgages and savings account details
  • Set-up direct debtor even cancel them anytime
  • Check and invest in any investment instrument online.

Is the online banking secure?

Well, many still fear this!! But, today, with the help of technology online security policies are in place, there is a measure taken to see that no hacking and account robbery is happening. But, to stay on the safer side, here’s what you can do:

  • Check your account frequently and also check for the activity pattern and report any strange activity
  • Don’t share any personal details via email or phone calls with any person who claims they are from the bank
  • Ensure that you log out from your online banking every time you log in
  • Use secure wi-fi connection to log in