Online banking can be bittersweet at times. Although online banking allows customers to easily manage their money across a breadth of accounts, it also allows for unfortunate circumstances, such as fraud, identity theft, and more.
Here is a rundown of some online-friendly tips for banking online in a safe, sufficient manner.
• Check for hidden fees. Several banks do not charge for online banking, but some do. Read the fine print to ensure that you can conduct online banking for free.
• Stay away from emails or communication with banks that you do not have an account with. These are scams and are designed to steal your money. Stick with what you know when it comes to online banking.
• Negotiate fees, rates and terms that are sometimes attached to online banking and be on the lookout for hidden fees. For instance, will you be charged every time you transfer money from one account to another? Again, read the fine print before signing on the dotted line.
• Several Internet gurus advise customers to pay bills only a bank’s secured site, not necessarily on the site for that particular bill payee. That being said, online customers should enter in all of their bill information in their personal online banking account to keep everything organized and in one place.
• Look for the rewards. Several banks offer rewards when opening an online account to help promote their going-green efforts. Read the print so you know when/where you will receive reward points in relation to banking online.
• Understand how online banking works and how long it takes for certain bills to be sent to the payee. This will prevent from you incurring any late fees.
Customers who follow these tips will be one step closer to conducting safe and efficient online banking.
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Looking for a Solid, Well-Capitalized Bank?
5Star Bank is rated 5 stars by Bauer Financial. We have provided outstanding banking services to members of the military and the community of the greater Colorado Springs area for over 20 years. We are “well capitalized” by strict regulatory standards and our capital in relation to assets ranks in the very top percentile of all FDIC insured banks in the country. The bank remains strong with depositors insured up to $250,000 by the FDIC.
5Star Bank has a Capital Adequacy Ratio of 45% as of May 31, 2010. The average ratio of all banks in the U.S. is only 14.90%. Please compare our capital position with your bank or credit union! 5Star Bank is rated five stars by Bauer Financial which can be seen at www.bauerfinancial.com. The bank also has a diversified asset base and is prudent in its lending, resulting in the absence of concentrations in the commercial real estate and residential mortgage sectors.
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