Online Banking – advantages & risks

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As I elaborated in my last blog post, just recently I started to pay my bills via online electronic methods utilizing the internet. Many banking institutions offer online banking services. Some banks charge a fee for these services, whereas others do not. There are online banks whose main existence is to perform these services to consumers. In addition, companies offer their own online bill-pay programs for your monthly electricity, water, garbage, etc. – hooking directly into your bank account.

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With the recent media coverage regarding banking industry practices, I felt a need to investigate a little further into the topic of online banking. Perhaps many of you know this information already. In any event, the associated links may be useful to brush up on the advantages and risks associated with banking online.

As much as many of us love the ability to access our accounts online to manage  money virtually, let us not forget we may fall prey to hackers who continue to find their ways through security systems. Click the image below to review dangers associated with mobile banking.

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One thought on “Online Banking – advantages & risks

  1. I’ve been using online banking my whole life, and I’ve never looked at it from this perspective. I’ve never had that fear of my money or identity being stolen because I’ve always thought, “I’ll get my money back.” Probably not the best perspective to have!

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