Online Banking

Online banking should not be confused with Internet banks. An Internet bank is an actual bank that functions solely online. Online banking is a set of services provided to customers of all bank types; services to include: viewing account balances, monitoring account activity, transferring funds between accounts and paying bills; all of which are completed online. Some banks allow only limited web-based activity while other banks offer almost all services online. As an added convenience, as soon as you use your debit card (a card that behaves like cash or a check) to make a purchase, most of the time the activity is posted immediately to your online banking account.

To use your bank's online banking services you create a login and password to enter at your financial institution's online banking website. It is important that you use letters and numbers (and special characters if allowed) to ensure that your password is strong and that other people will not guess it and gain access to your online accounts.

Examine the following bank websites to see the functionalities offered by online banking:

• Commercial Bank: U.S. Bank
• Credit Union: Pentagon Federal Credit Union
• Internet Bank: Ally Bank

All online banking transactions occur through secure, encrypted websites. This means that the transactions you complete should not be able to be viewed by hackers or other people trying to commit a crime. However, security breaches sometimes occur. It is important to take the correct precautions before using online banking services.