How To Use the Net Banking Facility? Crucial Practices to Follow.

Net banking infers the digital service provided by financial institutions or banks to you as a customer. This is one of the crucial services available to you on the online platform for smooth and easy daily transactions. If you are a customer with an active savings account and credentials for net banking to use the net banking services, then you can eliminate the need for visiting the bank physically for activation of your net banking. For instance, suppose you opened 2 bank accounts i.e., a Canara bank account and a Karnataka bank account. As these two banks have already provided you with the required credentials for opening the net banking, you do not require visiting the bank branch during the Canara bank timings and Karnataka bank timings, for opening your net banking account. You can simply open the net banking facility online from the comfort of your home with just a few clicks on the phone or desktop with the credentials provided by the bank. 

As net banking provides an advanced banking service, you must ensure to opt for this facility to save your precious time and effort. Not using this digital facility makes it unnecessary to go the traditional way around that comes with a lot of hassle and wastes a lot of your effort. With the net banking facility activated, you can do most of the banking activities, which includes downloading your monthly bank statements, applying for loans of your choice, applying for debit card and credit card of your choice, transferring the funds from your bank account to another account, paying your bills, making investments in fixed deposits, recurring deposits or in mutual fund through the SIP route. However, as digital podiums are susceptible to digital fraud, hacking, malicious activities, and others, it is recommended for you understand the net banking system judiciously to understand the safety measures and use the facility to its benefit. 

Here are mentioned some of the important safety tips, you must be well versed with – 

While there’s zero sure-shot way to protect yourself from digital problems, however, you must follow specific points to lower the digital impact. These include – 

Keep your passcode strong

∙       It is recommended to form a strong passcode.

∙       The passcode must be formed by using special characters, numeric characters, and alphabets. 

∙       It is advised to keep the usage of your personal details like your date of birth, name, email ID, phone number, etc., minimal. 

∙       Build a habit of constantly changing your passcode. 

∙       Always keep your passcode as a secret and avoid sharing the same with anyone. 

Monitor account

∙       Do not skip monitoring your net banking account. 

∙       Make sure to continuously check your passbook on a periodic basis. 

∙       In case of viewing any suspicious or fraudulent practice or activity, ensure to connect with your bank as soon as possible to discuss this and get a solution. 

2-factor verification

∙       With the surge in the number of frauds over the digital channel, banks are now offering a 2-factor authentication during the net banking account opening procedure. 

∙       Ensure you input your registered phone number to get an OTP. 

∙       OTP or the code received on your registered phone number stays valid for a limited time, ensure to input to as soon as possible for signing into your net banking account. 

Logout practice

∙       Do not leave your net banking unattended. 

∙       Always ensure to log out after finishing your transaction or finishing the required banking tasks or activity. 

Use secure connections

∙       It is recommended to always secure a private and secure network connection. 

∙       Resist using any public network or WIFI.

∙       Look thoroughly if your net banking site begins with an HTTPS. 

∙       Make sure your net banking site has the lock symbol present in its address bar so that all the data is well encrypted and is converted into an unreadable text before processing any banking process. 

Banking notifications

∙       Go for email and mobile alerts whenever a transaction or any banking activity happens through the mobile banking or net banking facility. 

∙       Keep handy the customer care number or bank assistance number to report instantly if you witness any fraudulent transaction in your name or any other discrepancy, which must be corrected instantly. 

∙       Keep the bank help number or the customer care number available just to you. 

∙       In the case, if you detect any fraudulent or malicious activity, ensure to connect with the bank to stop this instantly. 

Email scams

∙       Financial institution never ever asks for passcodes or any other sensitive banking credentials over email, message, or call, and hence, ensure to be aware of any spammy or malicious email. 

∙       In the case of any complaints, banks ensure to always connect with you personally and authenticate the details before starting with the procedure. 

∙       Avoid responding to any emails linked with phishing. 

∙       Connect with the financial institution to confirm your email and details mentioned in its terms and conditions. 

Anti-virus software

∙       Always ensure to use the best antivirus software to easily safeguard your personal details. 

∙       Update your software on a regular basis. 

Update the operating system

∙       Continue to update your OS or operating system. 

∙       Never ever skip the suggested updates from your device. 

∙       Install the financial institutions’ latest OS version to stay updated with the latest info and data.  

An official net banking site

∙       Always ensure to use the net banking site, which is official. 

∙       Never sign into a site through a 3rd party site. 

In the conclusion

A Digital network is an important system with a vast pool of details linked to you and your account. Thus, ensure to be careful and follow the above practices for safe banking. Open your net banking account to easily manage your current or savings account. For instance, if you have a Karnataka account, which is just a secondary account with minimal usage, then also you must ensure to register for the net banking facility. This is because you may not know when the need for this facility may arise and visiting the bank as per the Karnataka bank timings may not be possible for you. So, having a net banking facility can keep you covered.