Lesson 11 Using Online Banking. Key Terms Account Transfer – online transfer of money; ex. Savings to checking acct. Fraud – using trickery to convince.

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Presentation transcript:

Lesson 11 Using Online Banking

Key Terms Account Transfer – online transfer of money; ex. Savings to checking acct. Fraud – using trickery to convince someone to give up valuable information or items of value. Identity Theft – opening a cr. Card with another person’s name/social security no. Internet Internet Access Online Banking Password

Key Terms Personal Information Phishing – when a criminal send an using a scheme to get you to divulge your personal information; do not reply to these s Personal Identification Number (PIN) Recurring Payments Username

Using Online Banking You need: – Internet access – Online access to your checking account If using public location (WiFi hot spot, etc.), you run the risk of someone seeing your account info and stealing it

What Can I Do with Online Banking? Check account balances Check transactions for posting – Checks cleared – Debit purchases posting – Paychecks arriving via Direct Deposit Transfer money between accounts Pay bills – May be able to set up automatic payments of bills – Can save on time and stamps

Protecting Yourself Online Conduct transactions using secure Web sites Beware of phishing – designed to look like official correspondence from your bank – normally has link that takes you to site designed to look like your bank’s Web site but is fake Site will normally ask you for your personal info and banking info Criminals now have everything they need to clean out your account Your bank will NEVER send you an asking you to go to a Web site to verify your account info!!!!

Clues to Identifying a Phishing Web Site Misspelled Web address – Could be misspelled by one letter or have a different ending BBandT.net instead of BBandT.com Address bar not there – Site designed to hide the address bar or display a fake address bar to convince you it’s real No HTTPS – Not being done as a secure transaction Misspelled text – Spelling errors on site

How To Create a Good Password Avoid retyping your username, or using your birth date or social security number Use a combination of letters (both upper and lower case) and numbers – Can add other characters (! or % or other characters) to make more complex – The more complex the password, the more difficult for hackers to crack it Think of a word that is meaningful to you, and add a memorable number in between some letters Avoid using the same password for online banking that you use for something else