Five Common Online Banking Mistakes to Avoid

by Nike Popoola

It is amazing how e-transaction has transformed the banking industry and made transactions very easy for customers.

Unlike some decades back when a person had to get early to the bank to stay in the queue in order to perform a transaction, this is no longer the case. An account owner can do transactions at any time and at any place. With internet, a customer can use his laptop and make all the transactions he wants. Even with the use of mobile phones, a person can receive and send large sums of money as long as he has some data.

He can go through the statement of his accounts by online, make enquiries from the bank and get instant response. He can even apply for loans and do other transactions.

A common practice among many people who try to do online transactions is using Wifi when they do not have their own Internet. With unprotected Wifi, a person can transfer huge sum of money. While online banking is easy and convenient, experts are of the view that users must exercise some caution while using it for personal transactions.

A common practice among many people who try to do online transactions is using Wifi when they do not have their own Internet. With unprotected Wifi, a person can transfer huge sum of money. While online banking is easy and convenient, experts are of the view that users must exercise some caution while using it for personal transactions.

Many will argue that banking online has been the best invention in recent years. And there is no doubt about that: no more statements and papers — everything is on your computer or mobile device, right at your fingertips, according to blog.merchantsbank.com. Read more

Culled from Punch