4 Tips for Safe Internet Banking
By Anupama Deshpande | November 27, 2019

After demonitization, transactions in electronic form are becoming popular day by day and so as the internet banking or netbanking. Internet banking, also known as netbanking or online banking, is an electronic payment system that enables youto conduct a range of financial transactions through the financial institution's website. Netbanking is a fast and convenient way to carry out any transaction. It is processed very quickly being a digital mode. For conducting a netbanking transaction, you must have a registration with your bank for netbanking, internet connection and a system like mobile or computer.

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You can carry out a netbanking transaction from anywhere and at anytime. Generally, people use it for fund transfers, bill payment, online purchase, investment in FD or Mutual Funds, etc. Tradition way of going to the bank or issuing a cheque is not prferred by most of the people now-a-days.

Netbanking is very convenient way but at the same time it needs to be used very carefully because of the risk of phishing and fraudulent ways of accessing to your confidential banking information by the hackers. Mentioned below are 4 Tips for Safe Internet Banking:

You must always carry out a netbanking transaction through your own mobile or computer. After doing so, ensure to clear the cache and browsing history of your system.

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Following networks should not be used for carrying out netbanking transactions:

• Public networks
• Free networks
• Cyber cafe
• Office desk

As in above mentioned places, there are more chances of your password being seen or forged by other people.

Keep very strong password for your netbanking account. Remember that it should not contain your important days like birthday, weddig anniversary, etc. so that it cannot be cracked by any hacker. Also, if your bank permits, opt for receiving OTP on your registered mobile for processing your netbanking transaction.

You should prefer to choose an account with two factor authentication. You should never click on any links from a third-party email to access your online bank account.

In order to conduct a safe online transaction, you must install and use licenced anti-virus software which will protect your computer from new viruses.

After successful completion of your netbanking transaction, you must log off your account and close the browser so that your session gets expired. It will prevent your account to get hacked by fraudulent people.