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Hints for Easier Online Banking.

internet_banking.jpgBanking has never been easier or more convenient.  With the Internet and online banking it's possible to do virtually all your banking from the comfort of your own home. 

A recent survey on online banking showed no real surprises.

The reasons people gave for using online banking were predictable.  People like to bank online because;
  • It's free.
  • It's easy.
  • It saves time.
  • It's convenient – you can do it anytime of the day or night.

The most frequent online banking activities were;
  • Checking account balances.
  • Transferring money from one account to another.
  • Viewing or paying bills.

The services online banking offers.
All major banks now offer online banking services.  The type of services they offer online are;
  • Monitoring your account statements.
  • Transferring money from one account to another.
  • Paying bills.
  • Setting up and monitoring automatic payments.
  • Checking interest rates and foreign exchange rates.
  • Engaging in online share trading.
  • Applying for credit and debit cards.
  • Enquiring and applying for insurance and KiwiSaver (if provided by the bank).
  • Enquiring about a home loan or personal loan.
  • Notifying clients of latest offers etc.

Some hints to help you manage your online accounts;
  • Check with your bank about fees. Some banks charge nothing for online banking (or non-business accounts) others charge a monthly fee.  Check with your bank.
  • Make the most of your online service.  Many over-the-counter bank transactions now incur a charge.  On the Internet they are usually free.  Save money by performing everyday banking online.
  • Double check everything.  When making bill payments or transferring money, the website will always give you the opportunity to double check that bank account numbers and amounts being paid are correct.  Never rush through this process.  Slow down – double check what you’re doing.
  • Bookmark your bank’s web address so you can access your internet account fast.
  • If you have trouble with your online banking, check the website’s FAQs and troubleshooting links.  If you still have trouble, phone the bank’s hotline.  Most banks are extremely helpful and the advice is free!
Keeping secure
  • safety_1.jpgUse a dedicated password.  73% of people who use online banking use a password they share with at least one other non-bank website.  Remember the rules for security – use a dedicated password and never tell anyone what it is.
  • Beware any email or phone call that asks you to give out your password.  See our FORTIfi Resource Centre article on phishing.
  • After using your online banking, always log-out.  That way the person who uses the computer after you cannot access your account.
  • Security is vital – think safety!  Banks have rules to ensure security is not breeched.  Read them in the Terms and Conditions part of the bank website.  You must comply with the bank’s rules to ensure they accept responsibility if any fraud or loss occurs.

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