Is Online Banking Safe?

As many banks continue to shut locations, you may start to wonder if the switch to online banking means anything for you? Between mobile apps and a constant connection to the internet, online banking has never been easier. But is online banking safe?

Here is our quick guide to understanding whether online banking is safe and why you should feel secure with it.

Is Hacking a Risk?

With the rise of the internet came the rise of hacking. This means breaking into websites and stealing information that can affect your day-to-day life. But hacking is actually quite uncommon and typically affect small businesses more than big ones.

This is because many big banks to create the most secure online bank account possible. They will often even hire professionals to try and hack into their website to find holes and breaches that would otherwise go unseen.

For those worrying about hacking and identity theft, be sure to contact

They Can Save You Money

Switching to banking online can also help save you costs in the long run. They typically do not have the same fees when it comes to minimums in the bank account or having to pay maintenance fees.

Most of that cost comes from having to run the brick and mortar locations. They need to have a way to pay the employees, rent, utilities, and other necessary components like paper and pens. All this adds up, and it is usually the customer that has to eat the cost.

Avoid Scams

But with anything online, you have to make sure that you are accessing the right website. Always double-check that you spelled the bank’s name right when entering it into the address bar. A common scam is for people to buy a domain that is off by one letter and creates a website that is meant to steal your information.

Be sure to check if they have a padlock in the address bar as well. This signifies that they are using a secure website and is verified by a third party. Not accessing a secure website is the first sign of something fishy.

Learn Their Customer Service Options

The safety of online banking also comes with how fast you can get into contact with someone – whether this means through telephone or online customer chat boxes.

See if they are available 24 hours a day, as you can need support at 3 in the afternoon or 3 in the morning. If they fail to have these options available to you, it might be time to look elsewhere.

Is Online Banking Safe? Absolutely

To answer the question is online banking safe, the answer is absolutely, as long as it is a trusted operation. Looking for a bank with the cheapest options will almost certainly come with ill intent, so shop around for the best places for yourself.

If you enjoyed the article and want to learn more about what the world has to offer, be sure to check out the rest of our blog. If you know someone that has been thinking about making the switch to online banking, be sure to share this article with them.