Digital on-line banking is it safe?
Is your online bank safe?
As far as history goes we are used to going into a bank developing a relationship with the bank teller and the loan officer. We actually cared about the teller and their kids learning about their family and vice versa. Relationships were about trust and knowing if someone had a good banking history with them and for years at a time.
Fast forward to today, everyone that I know of logs into an account with zero people interation from the phone, Ipad, or anywhere on earth. Do you miss the relationship if you have never had it? Nope. I still go into the bank and like to physically know that my money has landed exactly where I put it. A computer system is a system and can have errors just like humans however; a printed out version on paper is not an error. I look forward to seeing the bank teller and wishing them a good day. This passes on good feelings because they are important.
Trying to reach customer service can be daunting if you have something that needs attention.
According to a comment by Mike Goodson, managing director in Accenture’s North America banking practice tells us that these digital banks are popping up so fast that they will make up 15% of the retail banking industy. He says they are just as safe as the brick buildings we drive to. The benefits of these online banks are said that they may have more perks like slashed fees when you use affiliated ATM’s, better interest rates because of low overhead.
Better check to see if they are FDIC insured first and that it uses an encryption software. Look for the lock and key at the top of the log in bar. Best practices to use are when you receive an email go directly to the banks log in page instead of opening an email that spammers can copy almost identically.
Side note: At all of our Indulge salon locations we still take our money to the bank. We could use other services but like I said, I like our customers to trust us. Not that digital banking would prevent this, its about the feeling of safe and we can drive to phsyically handle business. But that’s just me.
I’d love to hear your comments on this topic.