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Personal Internet banking involves using banking institutions that offer online services for housing checking, savings and money market accounts. Selecting a reputable institution and following online personal safety rules, however, is imperative for protecting personal assets. To create and manage an online account involves a process that is fairly simple to do.
Step 1 - Select the Personal Internet Banking Institution
To enjoy the benefits of online banking, a consumer must first select an institution to do business with. There are two main options available for facilitating online banking. They are:
- traditional banking organizations that offer online services;
- banking institutions that have been created to function in the online world solely.
Once a bank is selected, establishing an account will be necessary. Institutions will have their own requirements for opening an account, including minimum opening balances.
Step 3 - Create Online Protections
Personal Internet banking does provide a lot of flexibility, but it can be fraught with perils if proper protections are not put into place. To make sure accounts are secured, be sure to:
- check the level of protection the institution offers - Online banking takes place over web sites. These should offer encryption protection at the very least.
- set passwords that are difficult for others to guess - Longer passwords that combine letters and numbers are generally best.
