Home bank access has skyrocketed. Almost every bank or credit union allows home banking access. When you use your home bank access, how do you make sure you protect yourself?
Here are a few tips. First, you need to confirm that your home bank is a legitimate bank or credit union. Also, make sure that your home banking account deposits are federally insured.
Whether you are selecting a traditional bank or a home bank that has no physical offices, it’s wise to make sure that it is legitimate and that your deposits are federally insured. Here are tips specifically designed for consumers considering banking over the Internet.
Read key information about the bank posted on its Web site.
Most bank Web sites have an “About Us” section or something similar that describes the institution. You may find a brief history of the bank, the official name and address of the bank’s headquarters, and information about its insurance coverage from the FDIC.
Protect yourself from fraudulent Web sites.
For example, watch out for copycat Web sites that deliberately use a name or Web address very similar to, but not the same as, that of a real financial institution. The intent is to lure you into clicking onto their Web site and giving your personal information, such as your account number and password. Always check to see that you have typed the correct Web site address for your bank before conducting a transaction.
Verify the bank’s insurance status.
To verify a bank’s insurance status, look for the familiar FDIC logo or the words “Member FDIC” or “FDIC Insured” on the Web site.
