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Lesson 11

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.

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Lesson 11

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  1. Lesson 11 Using Online Banking

  2. 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

  3. Key Terms • PersonalInformation • 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

  4. 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

  5. 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

  6. 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!!!!

  7. 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

  8. 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

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