Are You Ready for Online Banking - PowerPoint PPT Presentation

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Are You Ready for Online Banking

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Review bills, pay bills, transfer funds. Apply for credit, mortgage or auto loans. Find out if a check has cleared. Swiftly compare rates and prices ... – PowerPoint PPT presentation

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Title: Are You Ready for Online Banking


1
Are You Ready forOnline Banking?
  • By Luke Erickson and Jim Schaffer

2
Why Bank Online?
  • Access account information
  • Review bills, pay bills, transfer funds
  • Apply for credit, mortgage or auto loans
  • Find out if a check has cleared
  • Swiftly compare rates and prices
  • 24 hour access to your bank accounts
  • All without leaving your comfortable chair!

3
Online-Account Access
  • Each bank designs its own Internet website.
  • What you see on
  • your screen and how
  • you use an online
  • banking system
  • differs among banks.

4
Sample Online Banking Screen
5
Making Decisions About Online Accounts
  • When selecting an online bank the most convenient
    choice is the bank you currently use.
  • You should also shop other online banks for
    prices and services.
  • www.checkingfinder.com
  • www.savingsaccounts.com
  • Select the system that best meets your needs, is
    easiest to use, and does so at the least cost.

6
Access your existing account online
  • Go directly to your banks official website.

7
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8
Using Online Accounts
  • Online banking simplifies the banking process,
    yet is very similar to using a regular checking
    or savings account.

9
Using Online Billpay
  • You must identify sources of deposits to the
    account and decide who will be paid online.
  • You will also have to determine the dates on
    which bills are due and the usual amount of the
    bill if it changes from month to month.

10
Enter Sign On Information
11
Search for an Electronic Payee
Manually Add a Payee
12
Select the Bills You Want to Pay
13
Enter an Amount and Schedule a Payment Date
You Can Also Schedule Repeated Payments
14
Disadvantages of Online Banking
  • Learning Curve
  • Like riding a bike. Its hard at first, but it
    becomes very easy once youve learned.
  • Bank Mergers
  • Site Changes
  • Security
  • Fraud
  • Phishing
  • Spyware

15
Identity Theft Happens
  • Identity theft is one of the main concerns with
    online banking.
  • ID theft
  • Personal information is used to impersonate you
  • Social security number
  • Credit card number
  • Bank account number

16
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17
POP QUIZ!
  • What is the best thing to do with spam?
  • 1. Read it and order whatever they are selling.
  • 2. Reply to the sender and tell them to stop
    sending you emails.
  • 3. Yell at it and smack your computer.
  • 4. Forward it to the Federal Trade Commission.
  • 5. Eat it.

18
  • Spam
  • Do not reply to spam email even to remove your
    name.
  • Forward spam email to the Federal Trade
    Commission (FTC) spam_at_uce.gov
  • Use an e-mail filter/firewalls to reduce spam
    other risks viruses, hackers, etc.

19
Secure sight?
  • A normal website begins with
  • http//
  • A secure website begins with
  • https//
  • (Notice the s. This means it is secure.)
  • Another sign is to look for the padlock icon at
    the bottom of your browser, like so

20
Choosing a password
  • Dont use personal information
  • like a birthday or childs name.
  • Mix different character types
  • Letters, numbers and symbols cat.67
  • The longer the better
  • kittycat.67
  • Make it different from common English
  • kiykat.67

21
Security Tips for Consumers
  • DO
  • Make sure that you are on the correct website
  • Make sure that you choose a password that will
    not easily be decoded
  • Check monthly checking and credit card statements
    carefully each month
  • Report errors or problems promptly
  • Be sure to Log Out of website when finished

22
Security Tips for Consumers
  • DO NOT
  • Disclose personal information such as credit card
    or social security numbers unless you are 100
    sure who you are dealing with
  • Have other browsers open while you are banking
    online
  • Download or open files that were sent from
    strangers because this could infect your computer
    and capture sensitive information without you
    even knowing.

23
For More Information
  • FDIC Consumer Rights Webpage
  • http//www.fdic.gov/consumers/consumer/rights
    /index.html
  • What is Online Banking?
  • http//www.bankrate.com/brm.olbstep2.asp
  • Online Banking Security
  • http//www.bankbranchonline.com/security.html
  • FDIC Regulations
  • http//www.federalreserve.gov/regulations
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