Tips for safe online banking

What do you do to protect yourself against spam e-mail which are actually phishing attacks to wheedle important information out of you? These e-mails are cannily designed to look like the original ones but they are not. They are fake e-mails that take the person who clicks on the links in the e-mail to a completely wrong website, which again may look like his/her bank’s site.

If not, such e-mails ask you to provide your password, account number, credit card number, may be even your address and contact numbers, which you should not, at any cost divulge. Commonsense should prevail because you should realize that your bank knows all these details, so why would they be asking you to confirm it again?
Better still, read all those e-mails that your bank actually does send you. They clearly state that 'we don't ask for any account numbers or passwords' and also caution you against revealing these details to people who do ask for them!
The problem with most mutual fund and bank e-mailers and newsletters is that most people are not that interested in reading dry financial material - no matter how attractively it is dressed - and so they even miss out on helpful tips which matter.

Here are three important tips in all those warning e-mails that you ignored to check:

1. Banks do not ask for any details from you about your account, credit card or definitely never your password, in an e-mail. I mean, would you give your bank locker's key to anyone who asked? So please don't do that for such important data either. If you have any doubts, pick up the phone and speak to your bank manager or relationship officer 'before' replying to any e-mail.
2. Banks advice you to type out the URL of the bank you do business with in its entirety, and close the window completely once you are done using it. Make a note of the encrypted 'lock' symbol near the corner of the browser window. Some sites have it and some don't, so there is no need to panic, if you can't see a lock. All sites have encrypted software installed and even that is usually advertised somewhere on most sites - usually at the bottom - where it says 'Verisign'. This is software which protects your data from being stolen and misused. However, the best tip is: Open the next communiqué your bank sends and take a look at the link - and save that in your e-mail or favourites tab. With this, you will never be led astray.
3. Never do any internet banking at a cybercafé. A computer at your office is a much better option for any online transactions.

Banks have even asked their customers to be vigilant and report phishing e-mails to them, so they can take action at their end. So, it helps to take a cursory interest in their e-mailers because they send it out for our benefit. They have a vested interest in keeping your money safe and obviously, so should you! Outsourcing these safety concerns to your bank may make you feel safe but this is only an illusion because when you get taken in by the next well designed phishing e-mail, blaming your bankers is not going to help you recover your savings.
The reality is that most major banks have had their share of spammers aping the look and feel of their websites, to dupe people to part with their account details. These people are looking for quick bucks and if one takes the basic precautions mentioned, your finances will be well protected.