Is It Wise To Continue With Activities Like Internet Banking?

Discussion in Phone, Internet & TV started by explorerx7 • Oct 20, 2017.

  1. explorerx7

    explorerx7Active Member

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    The worldwide web is becoming increasingly voulnarable to attacks from hackers. Recently, I have seen a US government agency indicating that it's had been under attack from hackers and to there seems to be similar happenings around the globe on a daily basis. I used to be involved in obtaining my banking information online but I have discontinued this activity because I have been having a problem login in and each time I would now have to be calling the bank for assistance to get into my account. I am now questioning the safety of the online banking prkcedure, therefore, I have discontinued doing so.
     
  2. Shine_Spirit

    Shine_SpiritActive Member

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    I think this is still very valid as long as you try to make yourself sure about the reliability of the process. It's clear that bad things can happen, but that is independent of the field of activity.
     
  3. Jamille

    JamilleActive Member

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    If your bank doesn't implement additional measures to make online banking secure and to make their depositors feel secure about their services, you may be doing online banking with the wrong bank. That doesn't make the entire internet banking process unreliable. My bank, for instance, requires a password when logging. On the next step, it will ask you to provide a One Time Pin (OTP) which is sent to the depositor's registered cellphone number. That means that even if some scammers have managed to extract my password, they can't gain access to my account.

    Alternatively, I can opt to answer the challenge question if my cellphone is not available. Additionally, even if the scammers do acquire access to my account, they won't be able to transfer the amount to their account as this process will require enrollment and ATM confirmation. I distrust banks or financial companies that don't have this check and balances and make things too easy for their depositors to part with their money.
     
  4. Alexandoy

    AlexandoyWell-Known Member

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    I used to work in the IT department of a bank and my wife is currently employed in the biggest bank here. Although we know that hacking is a possibility, we still trust the bank because if something goes wrong with your account, there is the so called audit trail to trace what happened, why the balance had changed when you did not withdraw. What’s good in online banking is that you can transact payments to bills using your bank account. That’s very convenient instead of going to the mall to pay in person.
     
  5. mildredtabitha

    mildredtabithaActive Member

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    I have also experienced this problem since last week and I contacted the bank and they claimed it was because they were upgrading the system. I was withdrawing cash last week on Wednesday and my ATM card was swallowed by the machine. It was solved and I was given my card later and I think that was why they decided to upgrade the system.

    Some online transactions have also been delayed and has caused some inconvenience but I hope it is this week only since my local bank has already upgraded the system. I am not quitting internet banking because I can't have a replacement now. As long as they can solve any problems I experience without any expenses on my side, I will continue using their services.
     
  6. moneymania

    moneymaniaActive Member

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    Well, any online site is vulnerable to hackers, so your wariness is justified. We used to do banking in person anyway before the internet became popular, so for your peace of mind, you can just do your banking offline.
     
  7. NinetyEighty1

    NinetyEighty1Active Member

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    Well, I would suggest you try to do a bit off offline banking to save yourself the stress if it is making you this uneasy. If you choose to continue, I would suggest just finding a good anti virus to keep you safe and secure. Also, try to change your passwords every now and again so you want have to worry about people hacking into your account and stealing any income.
     
  8. littlewitch66

    littlewitch66Active Member

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    I must admit, with all its risks I love internet banking. I have my bank's app on my phone and can check whenever I want what is coming in and out. I would hate to go back to visiting my bank anytime I want to see my balance so I just make sure I have a good antivirus and I don't intend to give it up any time soon.
     
  9. wallet

    walletActive Member

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    Yes, it is safe to use Internet banking because the bank has its measures of security that will protect your account. I do own a bank account and I do use Internet banking without a problem since 2007, and I trust my bank that they will keep my money safe!
     
  10. Pioneerauthor

    PioneerauthorNew Member

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    Yes, it's great to continue using the internet banking platform, but with uttermost care and suspicion. You must be very aware of the ongoing scam and fraudulent activities that are rocking the world currently, particularly at some specific locations of the world. These scammers or fraudsters make use of those online platforms to defraud people and extort money from their bank accounts.
     
  11. luri

    luriActive Member

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    I don't see any problem with internet banking. If you secure your account with a good password and change your password often, your account will never be compromised. You can also secure your account with two factor authentication, having to use a code sent to your phone to loghinto your account, for instance.