Is online banking safe?

Why is online banking safer than traditional banking (paper statements, ATMs, etc.)?

It’s understandable to be uncomfortable about making the switch from paper to online statements, but online security has come a long way. From sign-on screens that encrypt your sign-on information, to the password you use to sign on, as well as your own Internet security – your account information has several layers of security. In addition, having your account information accessible twenty-four hours a day will become a convenience you won’t know how you did without, even if you only check it once a week. Checking on when the checks you’ve written have cleared, as well as deposits you’re waiting to post to your account are instantly known with online banking. Online banking also affords you the convenience of transferring balances between savings and checking accounts.

If you are on a shared checking account, it’s also great to have more up-to-date information to track purchases so the budget and spending stay on track.

Some additional reminders when using online banking:

  • The nature of the process ensures that your business is done from the security of your home or office.
  • Since there is an ongoing awareness of identity theft, there has been a real focus on security.
  • The computers are protected by a firewall and multiple factor authentication (MFA) of log in information and data transfers are encrypted.
  • When you have completed a transaction, log off so that you break the connection with the host server.
  • Never conduct transactions while multiple browsers are open on your computer.

Sometimes life gets too interesting and busy to talk about banking at the dinner table, your daily updated statement can do that for you. As far as online statements, it’s actually more convenient (because it’s often faster than the mail) and more secure. People need to pass through multiple layers of security if there were seeking access to an online statement. One that comes in the mail can be plucked right out of our mailbox and/or filing cabinet.

online banking account example

Greater Iowa's online banking is easy to navigate and is a secure way to access account information.