Table Of Contents:
Are in you interested to start internet banking? You need a proper set up to get started. Though there are many ways to get started, a lot would depend on the internet company you decide to work with. The process is very simple when you register with your existing bank. You can call the bank and ask to register for their online banking services. You would soon receive all the required information including the instruction sheet through mail.
The bank would promptly tell you the way to log on to their internet banking website as well as give a unique username which would not change. Internet banking involves many security issues which would be told to you through the letter from the bank. Also requirement like needing a 128-bit encryption on your computer. The bank would tell you the importance of entering the bank URL properly as well as how to enter your own username every time you use the online services. Taking care in this area would avoid getting duped online. You bank would then inform you about your password and tell you how to change it also. The bank would expose you to various security tokens used like images and captions. Then they would show you how to sign up and start your online banking. The process differs when the bank is a virtual bank. Here you have to open a new internet banking account with them
You could begin by opting for a virtual bank which would be used for personal and business transactions. Many of the processes of a virtual bank are same as that of a brick and mortar bank. You would like to ensure that they are FDIC insured. Some of the other information which is of interest to you includes their rate of interest on savings accounts, loans and some checking accounts. Also you must know their overdraft fees. You will also be wise to read any information they have on their rules and procedures.
What are your rights and obligations? What does the bank expect from you? You must not only know these but you must agree to them too. In the event of your doing internet banking with a virtual bank, a print out of this information would be good for you. There are some parameters within which you are allowed to choose your username and password, as allowed by the virtual bank. Now you are free to start your online banking. As far as giving information is concerned, the rules are the same with any bank, before you open an account. The usual information which any bank requires is where you work, where you live, your name, social security and phone number.
You might have to pay some deposit to the bank, before you begin. When every thing is ready, you can operate your account with the click of your mouse.