Many people are still unaware of how online banking works and therefore still have many fears that prevent them from using it and taking advantage of its advantages. Here we tell you what its advantages are, what you can do in it and how to do it safely.
No More Lines With Online Banking
The first institution to make online banking available to its clients in Latin America did so in 1995, and at that time it only served to check balances and make transfers between own accounts.
Today internet banking allows you to do almost any procedure or movement without having to go to a branch, including interbank operations.
According to the Asociación de Internet.mx, 7 out of 10 people with internet access use online banking and 90% of them are satisfied but do they take advantage of all the benefits that this option offers? What about the rest of the people who do not use this service?
It is important for people to know the advantages and things they can do through online banking, as well as the security measures they must take to do it with full confidence. Here we mention the most relevant ones.
Advantages of Online Banking
- 24/7 access to a large part of banking services. Most of the procedures available on the platform can be done any day at any time (including electronic transfers ), although there will be others that do need to be adjusted to office hours.
- You can carry out operations from anywhere with internet access. Avoid wasting time and money in transporting you to the branch and waiting for them to attend you.
- You can do more and more from online banking, so you can better manage your money:
- Check balances and download your account statements.
- Manage your savings and your checkbook.
- Initiate and monitor investments.
- Make tax and service payments instantly or schedule them to be done automatically later.
- Transfer money between own, third party or other bank accounts.
- Pay your credit cards, departmental or other banks.
- Hire new banking services and review contracts more carefully than if you did it directly at the branch, so you are better informed about the products and services you purchase.
- Report and suspend your cards for theft or loss.
Enjoying all these advantages has a modest cost that varies from one bank to another, so CONDUSEF recommends that you know the costs and commissions of your bank, to give you an idea you can review this comparative table created by the Commission in 2017, but don’t forget to check if there have been updates in your bank:
Recommendations When Using Online Banking
Using online banking services is safe, it is found on protected websites, you require a user and a password to enter and in addition to a token to carry out some of the transactions.
However, it is not unnecessary to take into account the following recommendations:
- In your passwords, combine uppercase and lowercase letters and numbers, and prevent them from being associated with personal information such as your date of birth, name or phone number.
- Also, avoid using the same password of other services.
- Do not share your passwords or access codes.
- Keep your token in a safe place, this device generates keys to carry out transactions in online banking.
- Activate alerts and notifications to your cell phone or your email.
- Do not enter online banking through links, type the URL directly and make sure that when you enter it begins with “https”, the “s” at the end guarantees the security of the site.
- Close the session at the end of your operations.
- Avoid using online banking by connecting to public WiFi networks or external devices.
- Use updated antivirus and anti-spy protection software on your devices.
Use Mobile Banking and Mobile SPIE
You can also use online banking through your smartphone, making it even more accessible. Most banks have an app, look it up.
Another service that has been simplified taking into account mobile phones is electronic transfers. For a long time, you can associate your bank account with your cell number, in this way when someone needs to make an electronic transfer, they can use the mobile SPIE and use your cell number instead of your CLABE, account number or card number. It will be easier to give a number that you always have in mind.
You can only associate your cell number with an account in each bank and, although each bank has different procedures, in general, it is very easy to do so.
How to Associate My Bank Account With My Mobile Number?
- This procedure has no cost and you can do it by attending the bank branch, or by accessing online banking from any device.
- Take into account that if you carry out the procedure from a cell phone it must be from the cell phone number that you are going to associate.
- You will receive confirmation from the bank no later than one business day after making the request and from that moment you can start receiving transfers to the account you associated by giving only your cell number.
How to Make a Transfer to a Cell Number?
First of all, you have to register the account as you would regularly, but in this case, you only have to enter the 10-digit cell number, the bank to which the account corresponds and the name of the beneficiary.
Once the account is registered, the procedure to make the transfer is the same as always, select the account, the amount and that’s it.
Associating your cell number with your bank account is an option that facilitates electronic transfers.