Online Banking - online banking for seniors, online banking for beginners

 

Internet Banking

 

What is Internet Banking?

Internet Banking is a facility that is provided by the banks and other financial institutions to their customers. It enables customers to do transactions from home such as pay bills, download statements, balance inquiries & request a new cheque book. You can even go back through your statement for up to 2 years. The service is usually provied free by the banks.

 

All of your regular billers & payee's can be stored so you won't have to remember them next time you have to pay a bill. You can also set up regular re-occuring payments.

Security

You should avoid using internet banking on public computers and remember to change your password regularly. Always log off when you finish your session. When choosing a password try not to use your name, date of birth, PIN code, city name etc. Your password should always be unique, and do not store your password on the computer you use to do your banking on. Also make sure you have an effective firewall installed on your computer and an up to date anti-virus program. Check that the website you are on is a secure site. It should have https:// at the beginning of the URL (web address). It may also have a padlock symbol in the URL.

Don't forget to have Internet Security installed on your computer or tablet. We recommend AVG Internet Security. A trial can be downloaded here.

If you follow these procedures online banking is very safe.

 

Most banks have Internet Banking available and it is very easy to setup.

Your are able to pay people directly from your account or by using BPAY.

Most businesses use the BPAY service and each are given a unique BPAY code

along with a reference number (which is usually associated with your account number).

You are able to arrange payment of pay bills up to 3 months in advance.

Other methods of paying for goods online include by credit card & debit card, although there is usually a small charge for this service. Another method which a few retailers are starting to use is which is a direct deposit method without you incurring any charges.

 

Most banks also have a security system in place whereas when you pay a new payee they will send an SMS message to your mobile phone. In this message there will be a code which you are required to insert into a confirmation box. This is just added security to ensure that it is actually you that is making the payment. Below is a video showing how this works for Westpac customers, but it is similar with the other banks.

Internet Banking Explained

Click on the image above to play video

NAB Internet Banking

Click on the image above to play video

 

 

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