10 Tips For Online Banking


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10 Tips For Online Banking

Canadians Love to Save Money Shopping Locally!

Canadians Love to Save Money Shopping Locally!

Banking has never been easier than it is today. Online banking allows you to access your bank accounts from the comfort of your home at any time of day or night. Now with the new addition of smartphones you can access your bank account while on the go, so it really has never been easier. You can even do this dressed in your underwear if you like, but we suggest wearing more than your underwear if you are using your smartphone at your local cafe.

Another great benefit of using online banking is that you no longer have to wait in long lines or worry about banking hours , simply login, make your transactions, sign out and get back to your day.

  1. Probably the first thing to consider with online banking is the convenience. You can access your bank via the Internet at any time of day or night, even while lying in bed if you like.
  2. Is your bank account right for you? Most banks offer discounted accounts for people 55+ and you should make sure to check with your bank what type of account they can offer you.
  3. Transactions performed online are generally much cheaper than those done over the counter at a bank branch. You can pay bills, transfer cash, check balances, and much more for much less. When you set-up your online banking you should ask if there is a limit to the number of online transactions you can perform each month and what are the charges for going over this amount.
  4. Online savings accounts are something worth considering. Banks such as ING Direct make it easy to transfer money in and out of your accounts. Online banks usually pay higher interest rates and typically fees are lower than traditional banks.
  5. Automatic Bill Payments, most online banks will offer you tools so you can add payees and manage monthly payments. Some accounts allow you to schedule the payments so you no longer have to worry about not making a payment on time; this is especially useful if you like to travel.
  6. Transfer money between accounts is easy with online banking and you can quickly move money from your checking account to your savings account. Automatic transfer can also be set-up to deposit funds from one account or from one bank to another on the same date every month.
  7. Computers and some browsers have convenient ways to help you remember your login details. We recommend not using the “remember my password” option. Keep your bank login details very safe and secure and never share them with anyone.
  8. Most online banks will allow you to change your password. This is a very good idea and something you should do regularly. Of course, you must also remember your new password each time it is changed.
  9. Logging on to your online bank is easy and very convenient. When you have completed your transactions do not forget to sign out of your account. This is especially important if you access your bank from a library, at work, or in any public place. If you are a public location remember to make sure nobody is watching while you are entering your password.
  10. Look out for fake emails requesting that you login into your account. Sometimes your bank may send you an email with new products or services but banks will never send emails asking for personal details. Emails like these are a looking for you to disclose your bank account details, they are called Phishing Scams. If you receive an email list this and are not sure if it is legitimate or fake, open a new browser window go directly to your banks URL and sign the way you normally do. If your bank is trying to get in touch with you they will have a message on your sign-in screen.
  11. Secure Your Computer: if you are banking online make sure that you have reputable anti-virus software installed on your computer and that you update your software frequently. Most anti-virus software can be set-up to automatically update on a schedule.