Online banking is an
electronic service that banks offer their customers. Sometimes
this is called PC banking. With online banking, you do most of your
online. When you open an account, the account manager will ask if
you want to use the bank website to see your account. You will need to
set up a
password so that you can get
into their site. Before this is set up, you need to ask your parents
how they feel about this. Even though banks have very
secure sites, some parents do
not approve of online banking. If your parents agree to your having an
online account, you can have it set up and begin to login to the site as
soon as you leave the bank.
The best thing to do when you login the first time is pay
attention. If any computer asks you if you want to store your login or
password information, choose ‘no’. This site is the key to getting your
money. If you share your login or password with a friend, you have
given them the key to the
We want to believe that our best friends will ALWAYS be our best
friends, but sometimes that just doesn’t happen. Maybe you have a
really cool password and your friend shares it with another friend
because it is just THAT cool. Your friend didn’t mean to cause problems
but that password was worth sharing. You need to protect your login
The bank site opens. Are you still paying attention?
During your first visit, you should look over your account and make sure
that what you
deposited is the
same as the bank total. Then take some time to look through the links
and tabs that show you the services you can use online. You can
transfer money from one account to another. This means that if you have
a savings and a checking account, you can take money from one account
and put it in the other electronically. This is really helpful when you
get a job and
money. For example: You have a
savings and a
Your employer doesn’t give you a paper
check each week. Instead, the company electronically “talks”
with your bank and
your pay into your accounts so that you have it right away and don’t even
have to go to the bank to deposit it.
There are advantages to banking online. You can see your
accounts anytime of the day or night, anywhere you can get on the
Internet. You can keep track of your account balances easier. Banks
also allow you to pay bills online, although they sometimes charge you a
fee to do that.
withdrawals of money can be done
at most bank A.T.M. machines
anytime of the day or night.
There are disadvantages to online banking, too. One of
these is security. Sometimes
get into bank sites and take money out of people’s accounts. Banks pay
a lot of money for website programs that keep hackers out. The Federal
Reserve insures up to $250,000 of your money if it is in the bank. If a
hacker takes your money, you will get it back. Another thing people
don’t like about online banking is that they miss having a bank person
who can answer questions, make sure that your money gets into the right
account, and things like that.
Nowadays, a lot of people bank online. You need to talk
this over with your parents, get information from your bank about it,
and then make your decision. You need to have easy AND secure banking.
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