Internet Banking is quickly becoming one of the most popular ways of transferring money. Basically, it is a web-based payment system enabling users to conduct all sorts of financial transactions.

This is similar to regular banking we are all used to, but much more convenient; therefore, there are so many people these days who switch to online banking. It just makes your financial activities much more convenient and your transactions faster.

You can make deposits, send your money, receive and withdraw payments, and do whatever you want with your money online. For most people, it is much easier than going to an actual bank and doing those things there.

Is Online Banking Safe for Customers?

That is the question most people ask when they start considering web banking, and that’s totally normal. Some people are still anxious about using payment systems, some of them just don’t have the experience with Internet banking, and some are just afraid to try. Of course, there are some risks related to internet banking, and it is natural because there always are shady people around when it comes to money. What are the main risks related to online banking? Let’s find out.

Possible Risks of Online Banking


Phishing is the most basic form of scamming online. Basically, phishers just send e-mails, text messages, or even call random people posing as the representatives of financial institutions and asking them to provide some of their personal data. Most people know that the real bank workers would never ask for their data, but some people don’t. Phishers just use their data to reach their ends and disappear. So, you have to remember not to share your private information under any circumstances.


This is a more sophisticated type of scamming that uses specific software that sees and memorizes the combinations of letters you type on your keyboard. This way, the scammers can know exactly what passwords you use. So, let’s say you want to deposit real money to online casino or conduct any other transaction; in that case, the keylogging software will memorize the combinations of letters you press, and the scammers will get all of your passwords. To avoid this, make sure to check all the files you download with your anti-virus.


Pharming is also tricky as it involves creating clone websites that look exactly like the websites of certain financial institutions or gambling site. Let’s say, a group of scammers creates many websites that look really similar to the websites of major payment systems like PayPal or Skrill. The attentive user would notice the difference, but some users might fail to see it and fall into the trap. So they might enter their personal data to the website that belongs to the scammers.

So, how safe is the Internet banking? It is 100% safe only if you pay attention to what you are doing. If you are sloppy and careless with your personal data, your chances of getting scammed grow higher.

To avoid troubles, just keep your eyes open, do not trust strangers, do not share your private information, and just be smart. Eventually, Internet banking will be a convenient and safe tool for you to use.


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