brad asked:


I just read an article online that the top 150 banks are set up to allow customers to make a deposit online by scanning the check and submitting it on the financial institution’s website. I’ve not been able to find anything on which banks offer this.

Do you have this type of service? If so, I’d love to hear more about it.

Please, only respond if you KNOW which bank(s) offer this service.

Thanks!

As technology has improved significantly over the last decade, criminals have become proportionately smarter and savvier. This is especially true in the online world – the universe where crooks can hide behind e-mails, websites and fake personas. Unfortunately, these same criminals would like to find their way into your bank account. However, there are some simple tips that you can follow to make for a safe online banking experience.

PROTECT YOUR PASSWORD: Your password is the key that opens the gate to your online bank account. As such, crooks would love to know this vital piece of information. To prevent this, make sure your password is not too personal. Avoid using your birthday, phone number, or social security number in your password. Craft a password that is a combination of impersonal letters and numbers. The longer, the better. It is also recommended that you change your password every few months or so.

BEWARE OF SUSPICIOUS EMAILS: Those wanting to steal personal information online often resort to what is called “phishing”. In this practice, criminals may send emails asking for credit card info, PINs (personal identification numbers), or passwords. Crooks in the online banking world often send emails that seem to be from legitimate financial institutions. These emails can appear to be convincing because they contain the logo of a real online bank. However, these emails often contain a link that leads you to a fake site designed to lure you into compromising personal information.

These suspicious emails can be easily recognized because they will usually fail to address you correctly, they contain many grammatical errors and they have links to suspicious or unfamiliar domains. If an email is questionable, it is always safe to check with your financial institution. Legitimate emails from your online bank will typically follow the same standards each time. They will usually address you by your proper name and will never ask you for your password, PIN, or credit card information. A legitimate online bank will usually notify you of its security standards on their official site. If all else fails, then call customer service to get clarity on your bank’s security policies.

USE ANTI-VIRUS AND FIREWALL PROTECTION: When it comes to online banking, anti-virus software and firewall protection can prove to be invaluable. Be sure to get the best protection your money can buy. High prices don’t always guarantee the best quality. Shop around and consult computer experts or PC magazines to find the highest rated products. Anti-virus and firewall protection keeps your computer safe from viruses that can steal space on your computer’s hard drive or rob personal information from you.

COMMUNICATE WITH YOUR FINANCIAL INSTITUTION: Never hesitate to get help from your financial institution if you think you may have accidentally submitted your personal information to a fraudulent website. As a matter of fact, contact them quickly if this ever occurs. Also, be sure your bank has your current mailing address and phone number(s). If they wish to contact you with sensitive information, then they will likely make a phone call and/or send you something in the mail concerning the matter.

Online banking can be both a convenient and safe way to manage your finances. However, just as with anything else, the necessary precautions have to be taken in order to ensure the safest experience possible.

By: Michael Russell

About the Author:

As the use of the Internet continues to expand, more banks and thrifts are using the convenience and ease of the Web to offer products and services, as well as enhance communication with customers. According to the Federal Deposit Insurance Corporation (FDIC), the Internet offers the potential for safe, convenient ways to shop for financial services and conduct banking business – 24/7. However, to ensure safe banking, customers need to be educated in making good decisions that protect them from costly surprises or even scams.

Protecting Deposits

Whether seeking a traditional bank or online bank that has no physical offices, the FDIC advises to make sure that the institution is legitimate and that deposits are federally insured.

The following are safety guidelines for those considering Internet banking:

1. Seek key information about the bank posted on its Web site. Read the “About Us” section that describes the institution where a brief history of the bank, the official name and address of the bank’s headquarters, and information about its insurance coverage is provided.

2. Be on the watch for fraudulent Web sites. Keep an eye out for copycat Web sites that use a name or Web address very similar to that of a real financial institution. These sites hope to lure in unsuspecting customers who might provide personal information, such as an account number and password.

3. Verify the bank’s insurance status. Customers should look for the familiar FDIC logo or the words “Member FDIC” or “FDIC Insured” on the Web site. Some banks operating on the Internet are not insured by the FDIC, such as those chartered overseas. Customers who choose to bank with these types of banks should know that the FDIC may not insure deposits.

4. For insurance purposes, banks may use different names for online and traditional services. This however, does not mean customers are dealing with separate banks. To determine maximum FDIC coverage, deposits at the parent bank are added together with those at the separately named bank Web site and are insured for up to the maximum amount covered for one bank.

5. Only deposits offered by FDIC-insured institutions are protected by the FDIC. Products such as mutual funds, stocks, annuities, and life insurance policies sold through Web sites or at the bank itself, are not FDIC-insured, are not guaranteed by the bank, and may lose value.

Protecting Privacy

Bank customers often want to know how their personal information is used by their bank and whether it is shared with affiliates of the bank or other parties. As of July 2001, banks are required to provide customers with a copy of their privacy policy, regardless if business is conducted online or offline.

Customers should be advised that banks may want to share information about their customers to help market products specific to needs and interests. Customers who do not wish to participate in information sharing have the right to prevent the bank from sharing personal information with any parties not affiliated with the bank.

Some companies may also track the Web browsing habits of their customers while at the bank’s site, to better understand interests. Customers can ask whether a specific bank track browsing habits if these practices pose a concern.

Protecting Transactions

Learning how to safeguard banking information, credit card numbers, Social Security Number, and other personal data is of vital importance when conducting business on the Internet.

Customers who want to ensure their transactions are secure should carefully examine a bank’s Web site for information about its security practices, or contact the bank directly. Examples of security features include:

1. Encryption: the process of scrambling private information to prevent unauthorized access. Some browsers display a small icon on the screen that looks like a “lock” or “key” when customers conduct secure transactions online.

2. Passwords or PINs: When customers access an account online, a password or personal identification number (PIN) should be required. Passwords or PINs should be unique and changed regularly. Avoid birthdates or numbers or words easily guessed by others.

3. General security: Virus protection over personal computers and physical access controls should be used and updated regularly.



By: Ann Knapp

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