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 e-mail using a
scheme to get you to divulge your personal
information; do not reply to these e-mails
• 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
– E-mail designed to look like official correspondence
from your bank
– E-mail 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 e-mail 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