Risks Accompanied in Online Banking Transactions

Posted by Grace under Banking on February 20, 2016

Here are some of the risks accompanies when making online banking transactions. Do you know the risks whenever you are making an online banking transactions. I know and you know that online banking transactions are easy and convenient to do rather than going to the bank and make a over-the-counter transactions.

Online banking can only be safe if you are familiar with the online banking portal and you will not lose any money if you know what you are doing with your bank account online.


Risks Accompanied in Online Banking Transactions

Be informed, beware and be smart…Here are the risks accompanied in online banking transactions;

  • Losing money from your online banking account is very possible.
  • You bank account information can be shared easily.

Online banking transactions are risky. I said it because I encounter bad experience in online banking. Here’s the story;

  1. I opened an online banking account with my preferred bank.
  2. I used the email I used in my social media accounts.
  3. I check balance regularly without clearing cookies afterwards.
  4. I responded to email phishing.
Risks Accompanied in Online Banking Transactions

Image Credit: richie graham via Flickr CC 2.0

Those are some of my mistakes. I am not saying opening an online banking account is a big mistake. The number 2, 3 and number 4 are the big mistakes.

Learn from these mistakes. Do not use the same email as if you are just creating a social media account. Always clear cookies, CTRL + SHFT + DEl can solve this problem. Lastly, beware of email phishing who are just collecting your bank account information.

What about you? Have you experience losing money in online banking transactions? Aside from this risks mentioned above, can you share another one using the comment box below? Did you find this page useful? Then share it with your friends! Thank you.

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