Net banking is a crucial digital service offered by financial institutions to bank customers that permit them to conduct a wide range of banking activities and transactions through online mode. These online transactions include transferring of funds, paying dues, and checking out your bank account balances. For making use of the net banking service, you as a customer must ensure to keep your bank account active as well as set net banking credentials. Also, note that using your net banking account, you can also fetch your bank statements or mini statements with ease. So, for instance, if you have a bank account with the Bank of Maharashtra and Indian Overseas Bank, then you can easily fetch the Bank of Maharashtra Mini Statement and get hold of the important IOB mini statement number through their respective net banking accounts.
Net banking provides various benefits like convenience and the potential to carry out advanced banking transactions without the need for approaching the bank in person. However, it is necessary for you to be aware that Internet banking facility is performed on online platforms, which may be vulnerable to distinct digital frauds, hacking and malicious activity. Thus, it is necessary for you to use Internet banking in a responsible manner and follow all the safety rules to protect your account and financial details.
Discussed here in this blog is how you can make use of Internet banking in a proper manner and tips you must consider for remaining safe.
What are the top ten crucial things you must know regarding Internet banking?
While there’s zero sure shot way for you to safeguard yourself against digital problems; however, you can follow the below-listed points to lower the digital effect –
Ensure to keep a strong passcode –
∙ It is recommended that you create a strong passcode.
∙ The passcode must be formed by using special characters, upper case, lower case, alphabets, and numeric. For instance, ShI@&^222%%.
∙ It is advised to keep minimal use of personal details like date of birth, name, email ID, phone number, etc.
∙ Develop the habit of continuously changing your passcode.
∙ It is looked upon as a good idea to write down your passcode on a secret diary, Google Keep or the cloud.
∙ Always keep your passcode secret and do not share the same with anyone.
Monitor your account –
∙ Always monitor your Internet banking account.
∙ Make sure to review your passbook periodically.
∙ In the case of any suspicious or fraudulent activity, connect with your bank as soon as possible.
Two-factor verification –
∙ With the rising number of digital frauds taking place in the digital mode, financial institutions now provide two-factor verification during the Internet banking opening procedure.
∙ Ensure you input your registered mobile phone number and receive the OTP.
∙ The OTP or code sent to your registered number or any other system stays valid for a short time span. Ensure to input it accordingly.
Sign-out practices –
∙ Always sign out post completing your transactions or other financial activities.
∙ Never ever leave your Internet banking unattended.
Use secure connections –
∙ Make sure you resist using your public networks or WI-FI.
∙ It is recommended to always make use of private networks and secure connections.
∙ Look carefully in case your internet banking site begins with HTTPS.
∙ Ensure your financial institution’s Internet banking site displays a lock symbol on the address bar because it mentions that all data is encrypted and is converted into unreadable gibberish.
Banking notifications –
∙ Keep your bank helpline number or your customer care number handy with you.
∙ In the case of detection of any fraudulent or malicious activity, get in touch with the financial institution and stop this instantly.
∙ Check all your email and mobile alerts sent to you to keep track of your banking transactions.
Email scams –
∙ In the case of any complaint, financial institutions always get in touch with the customer through a call to authenticate the details before starting the procedure.
∙ Financial institutions never ask for the passcode or other banking details over email, call, or message and thus, beware of spammy or malicious emails.
∙ Avoid responding to any phishing emails.
∙ Get in touch with the financial institution to confirm the mail and details mentioned on it in the case you find them valid, however dicey.
Anti-virus software –
∙ Update the software periodically.
∙ Always make sure to use reliable antivirus software to protect your personal details.
Update the operating system –
∙ Keep on updating your OS (operating system).
∙ Never skip the suggested updates from your device.
∙ Keep the latest version of OS installed to keep your data and info protected.
Official Internet banking site –
∙ Avoid using automatic login as such an automatic feature autosave your login credentials. Such automatic features can be accessed by anyone.
∙ Always use the official Internet banking site of your financial institution.
∙ Never sign into the Internet banking site through 3rd party site.
Disconnect the internet network when not in use –
Most users of broadband do not disconnect the internet network on their personal computers. Malicious hackers can simply access your personal computer through the internet network and steal all your banking info.
Type your banking URL –
It is secure and safe to input your URL in the address bar of the web browser than hitting on the links on your email or phone message. There are many instances of fraudsters sending emails with fraudulent site links that are formulated exactly as a financial institution’s original site. Once you input the login information on such site, they might be utilised to access your account as well as steal your parked funds. So, while signing on, always ensure to check the URL and see if it’s “https”.
Avoid using public computers or WI-FI for the login –
Do not sign into the bank account on public computers in libraries or cyber cafes. These majorly are crowded locations and there are higher chances for your passcode of getting traced or viewed by unknown. If you require logging in from such locations, ensure you clear the browsing history and cache and delete all the files you have downloaded. Also, never ever save your login credentials on public computers.
So, in the case, if you hold an account with Indian Overseas Bank or any other financial institution, then for fetching the IOB mini statement number or conducting any online transactions, ensure to use the authentic bank’s site and open your net banking on your own computer and avoid using any public computers or WI-FIs for the same.