Skip to main content

I Can Manage: Taking Care Of Your Online Banking Account

I Can Manage: Taking Care Of Your Online Banking Account

Online banking has made the banking experience more convenient for people in several ways. People can now send money online through things like PayPal and Venmo. Paying bills has become as easy as having your biller auto-debit the amount from your account.

Thanks to technological advancements, banking-related transactions have become less tedious and troublesome. What’s more, it’s as easy as opening a bank account and signing up. This is why many people opt to engage in various forms of online banking activities.

However, despite the simple onboarding process with online banking, keeping and maintaining that account is no easy task. This is because there are still several responsibilities and things that one must do to help keep that account running.

Simply put, people still need to do their part to manage their bank accounts. Doing so not only makes their life easy but also keeps them out of trouble.

The Importance Of Managing Your Account

This should go without saying, but it’s vital that you learn how to manage your online banking account. Much like any regular banking account, your online account is tied up with your finances–money.

If you’re not responsible about it, you could lose your money, among several other possibilities. Considering that it’s hard to earn money as it is, you should do what you can to secure every cent you have in your account.

If you have this aspect of your finances in order, you can at least be assured that every other financial factor in your life will not suffer. After all, if you take care of your money and manage it well, you’ll be able to make financial decisions with as little difficulty as possible.

What’s more, you can also help do your part to ensure your financial security.

Ways To Manage Your Account

With that in mind, how does one manage their online banking account? Fortunately, it’s a process that isn’t as difficult as you think. There may be many things to look after, but it gets easier once you break down the steps you need to take.

In this case, there are three things you can do to start managing that online account better. What’s more, they’re relatively simple things to do. So, you don’t really have to worry about spending so much time figuring out your account.

Always Keep Track Of Your Balance

Always Keep Track Of Your Balance

One of the most important things you can do to help manage your bank account is keep track of your balance. Whether it’s checking or savings, your accounts will have a balance. This is where your money goes.

Essentially, this is the supply you have. Your balance will tell you how much you have in the bank and how much you have left to spend.

However, while most people rest easy knowing that they have money in their account, it’s still important to keep track of how much you have. Keeping track of how much you have at least lets you know that the amount you have in your account is what it’s supposed to be, no more, no less.

This helps ensure that you’re not losing money without your knowledge. If you ignore this, you could find yourself in more trouble than you can afford.

Take Note Of Expected Transactions

In line with always keeping track of your balance, it’s also essential to take note of expected transactions that involve your bank accounts. This helps ensure you know how much money will be debited or sent to you.

By keeping track of what goes in and out of your account, you can at least cross reference this to any notice you’re given. You can then ensure you’re not being overcharged by your biller or getting an amount less than what was promised.

Aside from that, taking note of the expected transactions can also prompt you to check if you have enough money in your account. If you’re making a check payment, this is very important as this ensures that your check does not bounce.

This also ensures you don’t have a negative balance after paying for something. Because if these things happen, you may face more problems that you may not be prepared for.

Know How To Report Any Banking Concerns

Another way to help you manage your bank account would be knowing who to contact regarding any banking-related concerns. While it may never happen, there may come a time when your biller might debit twice the expected amount from your account, or your check might bounce.

In these instances, knowing how to go about these things can help make your dilemma more manageable.

Knowing how to file a concern and what channels to send them to can at least get you the help you need as soon as possible. This saves you a lot of time and trouble from feeling lost or not knowing what to do. After all, it’s better to be prepared for these things and not have them happen than to have them happen and not know what to do about them.

You Can Do It!

Managing an online bank account is more or less the same as managing a regular bank account. In fact, you can argue that an online banking account is easier to manage. This is because you can access your account conveniently from your smartphone or laptop.

So, it shouldn’t be too difficult to do. You just need to know how to go about it, so you aren’t so overwhelmed.

Thankfully, managing your account is as simple as keeping track of how much you have in your account and knowing what transactions you’ll be having.

By doing these two things, you can at least be assured that you’re responsible with your money because you know how much you have and how much you’re “spending.” Once you make a habit of these things, it’ll eventually be an effortless routine for you.

In the process, you’ll also get more familiar with how your banking platform works and how you can use it.

Online banking has made the entire process of banking more convenient for many people. So, it wouldn’t be surprising if this is something you want to engage in. Fortunately, it’s easy to pick up and learn.

All you have to remember when you get started is to do your part and be responsible enough to manage it. It’s your money, after all. So, it’s best to ensure you’re as responsible with it as possible.

Getting In Line With Online: Starting Out With Online Banking

Getting In Line With Online: Starting Out With Online Banking

Considering the advantages that come with using technology, it makes sense that people do their best to find ways to integrate it into their lives. After all, a little extra convenience wouldn’t hurt. Thankfully, this is the case in many aspects of our lives.

For example, ordering food has now become as easy as opening an app on your phone, choosing what you want, and requesting it. Online shopping has also allowed people to find what they need without going to a store.

Thanks to technology, many aspects of our lives have become more accessible and easier. Banking is no exception to this. With the help of technology, banking has become a less tiresome and dreadful thing to do.

Whereas you usually have to spend a lot of time lining up to process a transaction, online banking has allowed you to do things from your phone! That’s a relief for many people, especially those with busy schedules.

With that in mind, it would make sense that more and more people would opt to make things more convenient for themselves by taking their banking online. However, if this is new to you, you might be wondering how to sign up for this.

Fortunately, the process is easy! Sometimes, you just need to know what to do to help make things less confusing and overwhelming for yourself.

So, how do you get on board with online banking?

What You’ll Need To Get Started

Of course, before you even begin with your whole online banking experience, there are some prerequisites. Without these, you still won’t be able to carry out transactions from the convenience of your phone or computer. However, you’ll be good to go after you’ve sorted all these out!

A Bank Account

So, before anything else, you’ll need to make sure you have a bank account. This should go without saying. So, if you don’t have a bank account, it’s good to look for a bank you can apply to. Different banks have different requirements when it comes to opening an account with them.

However, it’s not such a complicated process. All you need to do is know what each bank requires of you, and then you can send your application. After a few days of processing, your bank will get back to you and give you all your account details!

The Online Banking Platform

Once you have a bank account to work with, you can then get started on opening that online account. You can do this from the comfort of your home, but you can also ask your bank branch for some help with this process. Whatever the case, the signup process is relatively easy to do.

First, you need to find your bank’s respective mobile app or online platform. You then need to fill up some personal details–among which include your account details.

After that, you’re essentially good to go! You will just have to wait a few days for your bank to process your application. Then they’ll give you all the details you need so you can start using your account.

Some Things To Keep In Mind

Some Things To Keep In Mind

That wasn’t so hard, right? Of course, the application process takes some time. However, once you’re finished filling up forms and submitting them, you only need to wait a couple of days or so before you’re good to go!

After that, you can go on ahead and transfer money, pay for bills, and deposit checks into your account!

However, as convenient as online banking is, there are still some risks that come with it. Thankfully, these risks are avoidable. You just need to be extra careful about what you do with your online bank account.

So, before you go on ahead and enjoy all the conveniences online and mobile banking can bring, keep a few things in mind.

Pay Attention To Your Bank’s Tutorials

If you’re new to online banking, one of the things you get after opening an online account would be a list of tips and helpful tricks. While many people might brush these off, they are very helpful in learning how to navigate your bank’s respective platforms. So, giving these tutorials and tips the attention they deserve is essential.

You can learn how your mobile or online banking app works by reading, watching, or paying attention to these tutorials. You can be made aware of its functions and how to access and utilize them. These will also help you learn how to ask for more help if you need it.

Even if it sounds like a waste of time, it’s good to understand these details about your online banking platform. Better safe than sorry, they always say.

Protect Your Details With Your Life

One other essential thing you need to keep in mind regarding online banking is your account details. More specifically, it’s imperative that you protect your account details with your life.

This isn’t to say that your life is at stake if you don’t keep your details safe, but you will get in more trouble than you’re prepared for if you don’t. You see, your online or mobile banking details are essentially what give people access to your account.

If you make the mistake of giving someone else access to your account, you may end up losing all your money or have someone use your details for other types of transactions. That alone is a lot of trouble to find yourself in.

With that in mind, it’s better that you keep your details to yourself. That way, you can at least be assured that you won’t have any unauthorized transactions going on without your knowledge. You save yourself from losing money or even finding yourself in debt you can’t repay!

Making Bank(ing Convenient)!

Many aspects of our lives have been significantly integrated with technology. Thanks to these technological advancements, things have become more accessible and convenient for many people. Online banking is a perfect example of a convenience technology has brought about.

With online banking, you get to make the banking experience a lot less troublesome and tedious. This is because you can carry out certain transactions from the convenience of your phone instead of having to line up at an actual bank.

For people who dread lines, this is definitely a win! What’s more, setting up an online banking account isn’t that difficult to do at all! All you need is a smartphone or computer, a bank account, and to sign up to your bank’s respective online banking platform. It’s that easy!

So, if you’re looking for a way to make your banking experience more bearable, consider going the online banking route! It’s convenient and easy to get started with!

Bag Secured: Keeping Safe When Online Banking

Bag Secured: Keeping Safe When Online Banking

While the advent of technology has brought about many beautiful developments in our lives, it’s also given us new dangers to be aware of. Since more and more people have started to use computers, cyber-attacks and the like have been taking place worldwide.

Of course, when people think of cyber attacks, they might think of things like mass hacking and shutting down entire cities at the push of a button. While this may sound like an awesome sight to behold, these are things that you might only see in Hollywood. Unbeknownst to many, digital and technological-related attacks are more common than you might expect.

If you’ve had an email account in the earlier decade of the 2000s, you might remember receiving an email from a Nigerian prince who wanted to give you some of his money. Nowadays, you’d already know that it’s a scam to get your personal banking information.

However, scams and tricks like these are still prevalent and in more improved forms. Moreover, many people still fall victim to these attacks and scams.

With that in mind, how is something like online banking safe from these incidents? Considering that this is one of the many aspects of our everyday lives that have gone digital, it’s valid that you should worry about whether or not you could fall victim to these types of things.

Fortunately, online banking is surprisingly safe. What’s more, there are ways to keep yourself even safer!

The Risks Of Online Banking

Before we talk about how online banks are safe, it’s essential to know the risks first. That way, you can better understand how banks do their part to protect their customers. So, with that in mind, what are the risks that come with online banking?

Well, these can be summarized into two main risks. The first would be the risk of losing your money. Of course, this risk also comes with doing your banking the traditional way.

However, with how advanced and sophisticated technology is becoming, cybercrimes have still become rather prevalent. As such, people can siphon out money from people’s accounts–which can happen a lot more often online if you’re not careful.

Aside from losing your money to a cyber attack, there is also the risk of someone getting your personal information. Now, they could also use your information to use your bank account. However, losing personal information to someone online can also cause a whole host of other untoward events, such as identity theft.

These are just some of the many risks that many people may face when they do online banking. However, it’s worth noting that while there are risks, there are still ways to help minimize them and make things safer for you.

After all, while things like hacking and phishing–attempts to get your personal information from you–are getting more sophisticated, so are the things that banks do to protect themselves and their customers.

Ways Banks Protect You

Banks have gotten with the times, too, adapting advancements in things like technology and security. So, you can expect they’ve done everything they can to ensure that something like their systems and online banking applications is safe. Considering that their line of business has to do with money, it only makes sense that they do.

With that in mind, what are some ways banks protect online banking customers?

Encrypt Apps And Websites

One of the most common ways that banks–and most other websites for that matter–protect their online platforms would be through encryption. Now, this may sound rather complicated, but it’s something that’s at least easy to understand.

When you have something like a website, you essentially have some data to control things on your website. From the aesthetic aspects to the more functional things like security, data plays a vital role here.

Now, typically, you’ll need to have access to these things. But, when a website is encrypted, access to these important data bits is essentially kept secret to people without authority. It’s like a password of sorts.

This may not be the most accurate description, but it at least helps you understand that these banks do what they can to protect your data. Only they have access to it, and anyone else who tries to access it will have difficulty figuring out how to do it. What’s more, banks spend a lot of money on these services.

So, you can expect these websites to be encrypted with the best possible software and methods.

Authentication And Validation Methods

Aside from keeping the websites secure from cyber attacks, banks also try to prevent other people from accessing your accounts. They do this through log-in authentication methods.

If you use Google a lot, you may be familiar with this. If you try accessing your account from a different device, Google will immediately notify you that someone is trying to access your account from another device.

It will then prompt you to confirm whether this is you or not. This is typically known as the two-step verification method. Many online banks do something similar!

If you try to log in to your account, sometimes you may receive a One-Time Password that you’ll have to key in before you access your account. This could be sent to your email or phone via a text message.

This helps ensure that you’re aware of the log-in attempts to your account and prevent unauthorized persons from accessing it even if they had your account details!

Ways To Protect Yourself

Ways To Protect Yourself

While banks do what they can to help assure you of a safe online banking experience, sometimes there’s only so much they can do. This is because even if they exert the effort to make a safe and secure site, you could still make a few mistakes when going about your banking. So, it’s also essential to do your part to ensure you bank safely and responsibly.

So, how can one protect themselves while doing their online banking?

Stay Informed

One of the best ways to protect yourself from online banking-related scams and the like is to keep yourself informed. Scams are getting more creative and realistic nowadays. Phishing attempts disguised as “official” emails asking for your log-in information are among the most common scams many people fall victim to.

With that in mind, it’s essential to stay informed about these scams and which emails are actually from your bank and which ones aren’t. Fortunately, banks do their part and send periodic reminders telling you they would never ask for your log-in information. So, it’s always good to stay vigilant and stay informed of new forms of scams and phishing attempts.

Get A Bank That Insures Your Deposits

This may seem redundant, mainly because this is practically a standard for most banks, but ensuring your bank insures your deposits is another way to protect yourself. Of course, this also doesn’t seem like a preventive method of protecting yourself from the risks that come with online banking.

However, by ensuring that your bank insures your deposits, you can at least have peace of mind knowing that you’re safe if the worst happens.

Depending on where you’re from and who’s covering it, the amount that your bank is willing to insure will vary. For example, in the US, the Federal Deposit Insurance Corp. covers up to $250,000 if a customer’s money is lost. For a lot of people, that’s more than enough!

Is It Still Worth It?

While online banking seems scary, it’s not as frightening as it’s made out to be. Of course, there are risks that come with it. However, almost everything also comes with risks. What’s more, these are risks that aren’t guaranteed to happen.

So, with that in mind, online banking is still worth it as it’s still safe to do! Banks spend lots of money to ensure that their customers and their money are kept safe and secure, and online banking is no exception.

From having sophisticated technology guarding your data to the verification methods they employ when you try to log in, these banks do what they can to keep your transactions secure. This protects them and yourself!

Online banking has helped make people’s lives more convenient, giving people the ability to make transactions at the tap of a screen. It saves people time and opens up a whole new world of convenience for them.

The benefits of online banking far outweigh its risks, so it’s still a feasible and practical option to consider if you’re looking to make your banking life more convenient!

WE R Solutions provides comprehensive business operations support and lifelong digital education services. We are dedicated to helping individuals and organizations thrive in today's rapidly changing business and digital landscape. We work closely with our clients to provide tailored solutions to achieve their goals.

Contact us today to learn how we can help you transform your business or digital learning experience!

About Us

© 2023 WE R Solutions