Online Banking - List of Do’s and Don’ts

By angsuman, Gaea News Network
Monday, March 25, 2013

List of Recommend Practices for Online Banking Users

  • Keep your password difficult to guess by others and easy to remember by you. You can use a easy to remember phrase and then replace few characters according to a pre-defined pattern like 1 for i or l, 3 for e etc.
  • Change your password at regular intervals. While it is almost always recommended and often enforced, it is the hardest thing to do in practice and sometimes forces people to delegate the password to a software to remember it for them. I don’t have a good solution for this except to say, maybe adopt a poem and use different lines from it and then repeat it from the beginning.
  • For logging in, always type the website address ( fully on your web browser. Better yet bookmark it in your browser.
  • Ensure Secure Websites ( websites starting with https:// ) while shopping or banking, paying bills. Two checks to ensure secure websites: Yellow lock in the lower right hand corner of the browser and “s” (“s” stands for secured) at the end of http: (i.e https:) in address bar of your browser.
  • Read and follow the information displayed on the screen, if any, prior to logging into Internet Banking portal.
  • Ensure that your computer / tablet / mobile is having latest anti-virus/anti-spyware/personal firewall/ security patches.
  • Monitor your Bank Statements and Credit Card Statements regularly, check for large and / or irregular amounts.
  • In case your mobile phone stops working all of a sudden, please do the following immediately (it can mean that someone has duplicated your SIM and maybe impersonating as you):
    • Inform your Branch or Call Center and request them to stop the Internet Banking transactions immediately.
    • Login to the Internet Banking website and change your login and transaction passwords.
    • Find out the cause for sudden non-working of your mobile phone from your mobile service provider.

List of Non-recommended Activities for Online Banking Users

  • Don’t share your credentials (user-id, password, Account number, credit card number etc) with anyone. Please note that Bank will never ask for your passwords.
  • Don’t have all your passwords and account numbers written out & kept in a wallet. Losing a wallet is not that hard.
  • Don’t click a web link given in an unknown e-mail. Use the bookmark in your own browser or type it manually if you are not using your own computer.
  • Don’t transfer funds or share your account details, credentials with any unknown or even known persons, luring you with commission, attractive offers on phone or through e-mail.
  • Don’t perform Internet Banking transactions from public computer (cyber-cafes).
  • Don’t respond to or click on links in any mails asking for your user id, password, credit / debit card details, etc.
Filed under: How To, Tech Note, Technology, Web, Web 2.0

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