#ThinkDigital: Safer Digital Banking

It is safe to assume that virtually anything can be achieved via the Internet – from schooling to shopping and even religious worship. This assertion rings true in the banking sector as digital banking is the new tradition. It is safe to say that today, most bank transactions can be completed online including opening accounts, completing forms and initiating requests from anywhere with internet access and a smart device.

Small businesses still face constraints on reconciling requests so signing up for an online account might help in several areas as it offers advantages like accessing funds 24 hours a day, and saving time spent in the bank among other perks. Convenience is the major advantage digital banking has over traditional banking processes. Simple banking transactions such as paying bills and transferring funds between accounts can easily be performed at the convenience of consumers.

Digital banking also allows access to accounts from virtually anywhere. If you’re on a business trip or far away from your office, you can still keep an eye on your transactions. Imagine the relief that comes with being able to get your financial statements at any given time without having to wait on a customer care agent to print one for you.

To partake of the advantages of digital banking just walk into any commercial bank and make inquires. Ensure that the right digital banking service provider is chosen for unlimited access to a wide range of solutions backed up with cost saving opportunities and cyber space security.

A few precautions to ensure you have a safer digital banking experience at all times:

  1. Always ensure that you access your bank account directly via the bank’s website, and not through suspicious hyperlinks sent via personal emails.
  1. Watch out for bogus sites and scams. It is quite common to get emails that claim to come from banks, check the domain names and email accounts used. These mails often ask for your security details or request that you click a link to a site. Do not click links or respond to emails requesting for your bank password, card details, etc.
  1. Protect all data and accounts with strong passwords that have complex characters consisting of alphabets and numbers, and remember to change them regularly.
  1. Always log out of your account profile and close your browser window once you have finished your transactions.
  1. Ensure your online banking; social networking and email account passwords are different and unique at all times.
  1. If you think you have been a victim of fraud or someone else has accessed your profile; contact your bank immediately.

Digital banking does have different sides to it, especially being a tool to grow businesses. However, safety should be upheld at all times.

#ThinkDigital is an original 234Finance series that provides you with articles, resources and information to assist you in achieving better productivity whilst saving costs. Please let us know those you will be implementing and how well they have worked for you. Feel free to share using the hash tag, #234FinanceThinkDigital.