Internet Banking

Internet banking refers to banking operations carried out between banks and their clients through Internet. It is also commonly known as online banking. Internet banking helps in expediting banking operations, reducing the cost and ensuring that you can utilize various banking services in your living room or even while traveling thousands of miles away from your home.

The process of Internet banking begins with every customer being given a unique user name and password by a particular bank. The customer can log on to the bank’s Web site and use this user name and password to access his or her bank account. Then he or she can give instructions online to the bank regarding any particular transaction.

All major banks provide the option of Internet banking to their customers. The banks keep a record of all online transactions. Though Internet banking is fast becoming the most popular mode of banking, there are certain security issues which still remain to be tackled. Though most of the banks claim that their Web sites have enough firewalls to prevent unauthorized access to anyone’s account, hackers have shown this claim to be false more than once.

There is always the possibility that you didn’t log out from your bank’s Web site according to the set procedure, as you were in a hurry while working on a public computer or over a non-secured wireless connection. This could have serious consequences, as someone else could misuse your account.

One important safety precaution is to keep changing the password at regular intervals. For safety purposes, it is better to memorize your user name and password than write it on a piece of paper. If you have forgotten or lost your password, call your bank immediately. They will either help you to retrieve your old password or give you a new password.

Optimum Tips for Safe Internet Banking

As technology progresses, ways of banking has also advanced along with it, gradually. And now each and every bank provides Internet banking service to its customers. Since the inception of Internet banking service, anyone with a bank account in any bank can access his account online via his bank’s website. In fact, nowadays people love to use internet banking more often, as it saves their time, and they do not need to depend on banking professionals for services such as funds transfer, account statement, check book request, demand draft, etc. However, as the trend of internet banking is growing day by day, the risks involved in using it is also surging at good speed. But you don’t need to worry if you too uses online banking service, as this article will tell you about the secret and safe internet banking tips.

Internet Banking URL or web address: Each and every bank uses HTTPS in the beginning of its internet banking URL. This HTTPS means Hyper Text Transfer Protocol Secure, which ensures that you are on the authentic website, for example; “https://”

Unsolicited emails: Any bank in the world never sends an email to his customers asking them to log in to their respective bank accounts to change their password using the link mentioned in the email itself. So plays stay away from that kind of emails to be on the safer side, in fact mark those emails as spam, and you can also report it to your local police department or FBI.

User ID and Password: Never share your internet banking USER ID and PASSWORD with anyone be it your best friend, your spouse, girl friend, or even kids. Additionally, change your password at regular intervals, and always use alpha numeric password with special keys as well.

Never access from cyber café or public PCs: You should avoid access internet banking from cyber café or public PCs, as you never know if they contain spyware and key logger, which are used by hackers to steal the information from computers and note down your keystrokes.

Use antivirus software: Always keep your system clean from virus, spyware, malware, and key logger. For this, you must use the best antivirus protection software only, as it will have various latest features like internet security to keep you safe from such threats.

You might think that these tips are very general and you already know all of them, but on many occasions, it has been found that people forget these necessary tips and end up losing their money to hackers.

Advantages of Internet Banking

Banking around the clock is no longer a remote possibility. But the banks don’t have to keep their branches open 24 hours a day to provide this service. This is one of the biggest advantages of Internet banking.

One doesn’t have to go to the bank’s branch to request a financial statement. You can download it from your online bank account, which shows you up-to-the-minute updated figures.

Another advantage of Internet banking is that it is cost-effective. Thousands of customers can be dealt with at once. There is no need to have too many clerks and cashiers. The administrative work gets reduced drastically with Internet banking. Expenditures on paper slips, forms and even bank stationery have gone down, which helps raise the profit margin of the bank by a surprisingly large number.

As far as customers are concerned, their account information is available round the clock, regardless of their location. They can reschedule their future payments from their bank account while sitting thousands of miles away. They can electronically transfer money from their bank accounts or receive money in their bank accounts within seconds.

You can apply for a loan without visiting the local bank branch and get one easily. You can buy or sell stocks and other securities by using your bank accounts. Even new accounts can be opened; old accounts can be closed without doing tedious paperwork. Especially with the increasing acceptability of digital signatures around the world, Internet banking has made life much easier and banking much faster and more pleasant, for customers as well as bankers.

Internet Banking – The Origin and Advantages

Banking has been the most important phenomenon that has hit the planet since the industrial revolution. Banking has been going on in one form or another for many millions of years. In the past thousands of years people made assets not by buying and selling goods but by bartering or exchanging items of interest to both parties. This meant that items were given value and exchanged accordingly. When currency came into existence the need for banks was seen more. This was because when people made profits and generated an income they could not store all the cash in their respective homes. Keeping too much money at home was not a wise decision since security then was not as good as it is now and money could be stolen anytime. Banks emerged due to this aspect of security and have evolved now to such an extent that banking is done mainly through the internet these days with more and more banks operating online and making transaction much more convenient, transparent due to this.

Banking online began in earnest only a few years ago when business owners and big heads of corporations needed to transfer money quickly and safely between themselves and other business owners. Before these applications of online banking, this phenomenon was probably used between countries to transact enormous amounts of money between them. Only now has internet banking emerged dominant to such an extent that almost any person in the developed and reasonably developed nations has heard of it. Well, what are the benefits of this online banking that make it so popular?

Online banking brings with it the power of being mobile. You can now access your bank account and make payments or transfer much needed money at the click of a mouse in the comfort of your car while you are on the road or you could think of settling the accounts of the company you own while you are twenty thousand feet above the earth on an airplane. This is what makes internet banking special since it has combined the power of the internet which is being mobile and connected at all times to the convenience of banking. Not only has the internet revolutionized the way people bank, it has also completely changed the way banking operations are performed. Earlier banks needed to employ thousands of people just to take care of their auditing operations but nowadays with the emergence of database systems which operate using the real time updating power of the internet, the banking sector no longer needs to depend on mass manpower to operate its services. All the core banking services are handled by computers these days which are massive and operate many thousands of servers which keep track of the purchases made by people at stores using credit cards and other cards. All these are other examples of a form of internet banking because the internet is needed to bring together and make such a technology happen. Thus you should definitely check out the various internet banking options which your offshore bank offers you for getting the maximum benefits that are possible for the smooth operation of both your life and your business if you have one.

Internet Banking Security Now More Enhanced

Guarantees against online fraud are what most consumers look for in internet banking services. As money is a major consideration here, they just want the best protection for their savings and investments. Regardless of whether they’re banking in a brick and mortar institution that has gone online or an online-only bank, consumers demand security.

Banks are working hard to convince customers to try internet banking. Security features of internet banking services are now more advanced giving customers every reason to bank through the internet for added convenience and a lot more benefits. With the ever improving internet technology, anybody today can perform all sorts of financial transactions online in the comforts of their home or office. Apart from the security and convenience, internet banking is also cost effective with less or sometimes no fees at all.

Research experts say that while some consumers see no benefit in eliminating paper when doing transactions, going paperless is actually protection in itself. As an example, a bank’s website can now allow you to view your bills and statements online in an instant instead of waiting for several weeks. This means that there’s no chance that your credit card and telephone statements will be taken from your mailbox or your trash can.

The encryption technology is the most commonly used to secure websites. As data pass through shared systems or networks wherein a large number of people have access to the information, this tool plays a vital role. It is in this light then that confidential information notably passwords needs to be encrypted to prevent them from leaking to other people and from being changed. The use of a digital signature is another security technique that also involves encryption.

Internet Banking Vs Traditional Banking

How Internet Banking Works

Internet banking works much like traditional banking. The primary difference is you are accessing your account and information, making payments and reconciling statements using your computer rather than paper or the phone to complete transactions. Instead of going down to your local branch office when you bank online you can accomplish multiple tasks at once with the click of a button.

Online banking is rapidly becoming more and more popular as consumers recognize the advantages online banking has to offer. For one most banks charge fewer fees if you take advantage of their online banking services. You can also stop receiving paper statements if you like in many cases and conduct 95% of your business over the Web when you take advantage of Internet banking.

What Internet Banks Do

What to Internet Banks do? The same things traditional banks do. They hold onto our money and lend it out to others respectively. The manage loans and help us keep track of our finances. Chances are if you own a bank account at a traditional bank they offer some type of Internet banking or online services. The next time you stop into your branch office you should ask them about online banking. You may find once you start you have no desire to go back to traditional banking.

Offshore Internet Banking Advantages and Disadvantages

The topic of offshore internet banking is a hot one and one that is increasingly growing in popularity not only within the consumer banking community, but also the business or corporate banking sector.

The beauty of offshore online banking is that in addition to enabling you to conduct banking activities allowed by traditional and local brick and mortar businesses, it allows you more variety and flexibility in terms of your banking needs. For example, if you travel often, offshore online banking gives you the flexibility to conduct business on to go from anywhere, while ensuring that you have access to the type of currency if you need at a time you need it.

Having said that, not all banks offer online or internet banking services as this service costs the banks a significant amount of money. Programming sophisticated and secure systems require the effort of several full time computer engineers, full security and compliance departments, as well as heavy overhead to support the service on an ongoing basis.

Because there are so many variables involved in offering this service, offshore internet banking services vary from one financial institution to another. Some have better systems while others have work to do. A lot of this is predicated on the resources the bank has dedicated to this initiative, both in terms of quantity and quality.

Opening an Offshore Bank Account

Before diving further into this topic, I want to clarify that engaging in offshore internet banking is not about evading taxes. It is about mitigating risk of capital loss due to no fault of your own. So when considering a foreign jurisdiction in which to establish an offshore bank account, consider one that is politically stable and financially strong. In addition, it helps to select a jurisdiction that pays an attractive interest rate and has low to no income tax. Some of the most preferred jurisdictions over the years have been Switzerland, Cayman Islands, Singapore, Hong Kong and the United Arab Emirates (UAE).

Opening a personal bank account is usually a very personal activity. With offshore internet banking however, there are ways you can get started remotely without having to show up to the bank’s local office, saving a ton of time, money and mainly frustration.

One such way is by visiting a local bank’s branch in your domicile state, or home country. Many big banks that offer internet banking have a multi-national presence. Chances are good that your selected bank has a local branch near where you live, despite being headquartered in another offshore jurisdiction.

RBI Advocates for Two-Factor Authentication in Internet Banking

Gone are the days, when you had to commute to banks for a single banking job, from withdrawing money to making monetary transfers.

Digital revolution has made our banking experience an absolute pleasure. You now need to just walk over to the ubiquitous ATMs for withdrawing quick cash. Online banking has made money transfers, payments, applying for cheque books and other banking functionalities easily accessible and manageable at the ease of a few clicks.

The evolution and expansion of Internet-based services have gained universal acceptance and application in banking sector. With the introduction of SmartPhones and Tablets, the dependency of customers on web applications for banking and transactions has increased further.

But this widespread use of technology has given rise to dangerous and tech-savvy hackers who use sophisticated software or spyware to track your online transactions, hack into the databases of banks, retail chains and financial institutions and steal your hard-earned money.

It does not mean you restrict yourself from using web-based applications. Enjoy the comfort that technology offers but be careful and cautious. The way you secure your person belongings under lock and key, you need to do the same for your person information that use online.

Reserve Bank of India (RBI) Guidelines Regarding Two Factor Authentication

Seeing the growing use of mobile for banking services including balance enquiry, reading mini statements, making online payments, cheque-related concerns, and locating a nearby ATM or bank’s branch, RBI has issued guidelines pertaining to the security of information to avoid any compromise on information security.

RBI instructs banks to adopt two factor authentication to ensure the account security of Internet banking users. RBI’s guidelines say, “Two factor authentication may be adopted even for transactions of information nature such as balance enquiry, mini statements, registered payee details”.

Where the mobile phone acts the second factor, RBI emphasizes on the verification of user’s mobile number through proper systems. RBI has also suggested the idea of a card number or OTPidea of a card number or OTP (one time passwords) to form the second line of defence for Internet banking.

Internet Banking Is for Everyone

What is internet banking?

Internet banking (or online banking, or E-banking) allows you to make banking transactions such as transferring money, paying a bill or setting up a regular payment on your bank or building society’s website. This can be done using a mobile phone or via the internet.

Is internet banking safe?

21 million people in the UK chose the convenience of banking online – so it must be safe, right? Right, if you are wise and use common sense.

But, thieves can access online bank accounts, through phishing and password theft;
With a phishing scam you receive a hoax email claiming to come from your bank. You are then instructed to click on a link in the email – from here you are taken to a fake website which resembles your banks. You are then instructed to enter your security details, all the while you think it is secure, however you unwittingly pass them on to thieves.

Your password can also be stolen by thieves – this is done by tricking you into installing a program on your computer that records what you type, so when you next log onto your online account, the program records your password details, allowing the thief to access them.

Don’t be alarmed, such scams are easily avoidable, it just takes a bit of common sense and security software. Firstly, common sense – don’t click on any links that claim to be from your bank. Go directly to your banks website via Google or type in the web address, if you know it, and double check if a message is genuine. If you are still unsure ring your bank. Calling may seem like an inconvenience, yet it will be much less of an inconvenience compared to calling them after someone has scammed you.

Installing good security software is necessary, whether you intend to use internet banking or not.
Security software will protect your computer against malicious software, which will in turn stop you from downloading dangerous programs. Don’t open any email attachments you’re not expecting and avoid downloading files from websites you don’t trust. Good security software will warn you against untrusted sites.

A Brief History of Internet Banking

The main purpose that banks have been serving since their inception is keeping our money safe for us. While keeping our money safe, they also let us earn a certain amount of interest on the money deposited with them. Traditional banks have been doing this, and internet banks continue the same function. The only difference is in the way the transactions are made.

Online banking has been around for quite a few years. In fact, it was introduced in the 1980s and has come a long way since then. The last decade has seen a profuse growth in internet banking transactions. Several pieces of legislation have also been introduced in this area.

Though it began in the 1980s, it was only in the mid nineties that internet banking really caught on. What attracts customers to internet banking is the round the clock availability and ease of transactions. Studies estimate that internet banking still has a long way to go. There are several banks that have customers who prefer banking in the traditional ways. Statistics released by the FDIC show that only 40% of the banks in the U.S. offer internet banking facilities worth mentioning. All the others may have an online presence but do not have enough online transactions to justify their presence on the internet.

Some customers have been known to turn to internet banking due to dissatisfaction with standard procedures and practices. The total absence of human interaction appeals to some people. Some customers turn to internet banking facilities for security reasons. This is mainly because of customers being assured of banks’ ability to keep transactions safe and secured.

Most online transactions are made using the Internet Explorer interface. The Internet Explorer has been around for more than ten years now.

Introduction to Internet Banking

The industrial revolution has come up with a very important current: the banking phenomenon. This has been happening for a long time, but in various forms. A couple of thousand years ago, people haven’t purchased or sell products, but they exchanged items. In this case, the products had a certain value and they were exchanged according to this.

Currency

When the currency appeared, the necessity of banks has started to be even more important. This was because people made their profits and obtained an income, which could not be stored at home. No one believed that it was a wise decision to keep so much money at home, since security was not exactly the number one thing in those times. This is the main reason why banks appeared and developed. Nowadays banking can be done through the Internet, since lots of banks are operating online and transform transactions into easy and accessible operations.

Online banking

This phenomenon started only a couple of years ago. The heads of the corporations and business owners had to transfer their money fast and in a safe manner. But before the applications of online banking existed, the phenomenon was used mainly between the countries that wanted to transact high amounts of money between partners. But now, the Internet banking has grown in such a rhythm that everyone, no matter where they are, have heard of it. But what are the benefits of it?

Mobility

This is the first advantage when it comes to online banking. You can access it from anywhere and you can make payments or transfer money from the comfort of your own house. Or you can do business on your computer while you are flying to take care of other business. This is why Internet banking is great, because it mixes the power of the Internet with the advantages of a bank. The Internet has changed the way people bank, but it has also modified the manner in which the banking operations are done. Some time before, the banks needed to hire lots of people to take care of their auditing needs, but now, due to database systems that use powerful updates, this sector does not need to depend on a large manpower to operate.

Online Colleges For Career Changes

Many people today are working in a career that is not satisfying. A large percentage of employees dread going to work each day. Another growing percent is the group that has recently been laid off due to the sinking economy. With all of the above, a career change could brighten the future ahead. Only by educating yourself, will you be more marketable to a new employer. What better way to get that education than from the comfort of your own home while looking for online colleges?

Online colleges are growing in popularity more than any other educational sector. Convenience is a major factor for this. Being able to complete a degree any time day or night is certainly a plus. You will save money and time by not having to commute to a traditional campus. While many traditional universities are also offering more online coursework, there are certain colleges that specialize and have programs for you to complete while never stepping foot on a campus.

It has been questioned whether an online degree is “worth” as much as a brick-and-mortar one, with a resounding answer of yes! Most prospective employers will not even know that your program was completed entirely online. A diploma does not state how you received the degree, only the issuing institution from which you earned it. Most online colleges, in fact, strive to more rigorous coursework than you might find on a regular campus in order to minimize the perceptions of this.

If your goal is to continue working (or continue looking for work full-time), an online colleges may be the right avenue for you. Research the various fields you may have an interest in and do some comparisons of cost, requirements, and coursework from several choices before making your final decision. It just may be the choice that brings you to work each day with a smile!

Apartments in Cleveland Ohio That Can Consider a Broken Lease

The artistic Cleveland, Ohio downtown area is rich in history, adventure and culture. This picturesque city located in the proximity of the Cuyahoga River, continues to attract droves of people who either simply come to visit, work or settle. There are also plenty of attractive riverside apartments for rent around the riverside section and also within the Limo service Cleveland OH environs and neighborhoods. But these apartments do conduct background checks not to mention checks on rental history and credit. This spells automatic denial for any customer who has a previous broken lease with other apartments. So are there any apartments in the Cleveland area that will consider a broken lease?

Neighborhoods In Cleveland With Second-Chance Apartments

Apartment complexes in the Cleveland area do routine checks. Many use a service called SafeRent which is a national database that houses tenants’ rental history information and any derogatory information that has been reported by previous apartments. A previous broken agreement, meaning the tenant walked out of a lease, is deemed very serious and can warrant immediate approval. Here are some neighborhoods that have apartments which will be willing to consider a broken agreement.

  • Downtown Cleveland
  • Buckeye-Shaker-Square
  • Central Cleveland
  • Collinwood
  • Corlett
  • Forest Hills
  • Union-Miles Park area
  • Woodland Hills

With second chance apartments that are willing to rent to individuals with an impaired rental background, the challenge becomes finding the exact apartments that are willing to take the risk. When it comes to the list of items considered non-negotiable, bankruptcy is the most serious followed by a broken lease.

To find places in Cleveland that are willing to take a chance with a tarnished rental record, an applicant must first of all check the Internet. The Web offers excellent opportunities to look for such complexes without having to leave one’s house. The challenge off course becomes that most of these types of apartments do not readily advertise because they do not want to attract negative publicity and also they want their rates to remain high. Bad publicity can drive rental rates down.

The Costliest Ice Machine Mistake – Are You Making It

There is one ice machine problem that ruins your machine. If the machine is out of warranty, it is usually too costly to repair. If the machine is still under warranty, this will void it. You are about to learn how to easily prevent this problem.

The problem is damage to the evaporator. The evaporator is the part that the ice forms on. After the ice is formed, the evaporator warms and the ice falls off. If the evaporator is damaged the ice does not release. Then the machine is either shut off by a safety or it tries to make another batch of ice on top of that one. In either case the machine stops working.

The most common reason for the ice not releasing is that the evaporator is dirty. This can be easily resolved by cleaning it properly after the ice has melted. Problems can happen when this is rushed. Forcing the ice off is a very bad and costly idea. It can result in serious damage.

Damage to the evaporator can not be repaired. The evaporator must be replaced and it is extremely expensive. While attending a training at a major ice machine factory, I asked why they cost so much. I was told the company was in the business of selling machines, not evaporators. So a damaged evaporator usually makes the machine unrepairable.

The most common way the ice machine evaporators are damaged is by someone trying to get ice off it with a screw driver or other tool. When the ice doesn’t release, it is usually an inexpensive to fix problem. Trying to force it off can make it a major problem. A small nick can ruin it.

If the ice doesn’t release, let it melt off without trying to speed it up. A heat gun can damage plastic parts. It is cheaper to buy some ice than to damage the machine. Once the ice has melted off, clean the machine and turn it back on. If the machine freezes up, let it thaw again and call for service.

Some ice makers have nickel plated evaporators. These can be slowly ruined by using the wrong ice machine cleaner. Check the owners manual or distributor for the correct cleaner. The safest way to do it is to use brand made by the company that made the Ice machine repair NYC. Manitowoc machines require nickel safe cleaner.

If the damage is minor, food grade non-stick cooking spray can be used to extend the life of the evaporator. One possible solution to a damaged evaporator is to find a used one. Ice machines are usually condemned for other reasons so the evaporator is often in usable condition. Having it installed will still cost several hours of labor but it will be less than a new machine.