Secure Online Banking

I have an iPhone but haven't been brave enough to yet do things like online banking. Is there a secure way to do it? Is Internet through a 3G network safe? Thanks

Banking sites use SSL encryption. There's no practical way to unscramble that unless you're the bank on the other end. You're totally safe with that and online shopping.

2009-05-04 06:26:08 by arual

There are security flaws with many online banking websites. Learn what holes there may be in your banks security plan.

Or just as secure?

Anyone know anything about this?

Interesting Q...
Generally speaking, the more 'jumps', steps, or procedures anything requires, means more opportunity for errors (intentional or accidental) to creep into the procedure.
Maybe the fact that mobile devices are of later generation than say Internet protocols would make it less publicized, and that in turn renders users less likely to be aware of potential issues.
Good Q.

2009-04-19 07:43:06 by Andres

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Can anybody explain it to me. I have been told that there is a decoding device used so that every transaction has a completely different and unique code that the bank use. Does anybody know? Thanks,

Additional Details
I know how you know the website is safe and secure but how do the banks avoid transactions getting hacked into and accounts being spammed.

When you establish a connection with your bank via its web portal for example, a secure connection is set up. To establish this connection, you are required to log in. The device which you use to log in generates tokens based on your bank card and pin code for example. Only a person who has your bank card and who knows your pin code can log into your account. All the data which goes over the internet will go through a secured channel. This connection cannot be broken into, therefore every transaction which you make is secure. In your last sentence you mention spam, but spam has nothing to do with online banking. Spam is unsolicited e-mail. Your bank does nothing via e-mail.

There is one big flaw in this system and that is the user. If a user would lose his bank card and he or she would share his pin code, the security of the account in question is broken. If a user has not updated the software on his or her computer and he or she has not installed an anti-virus solution, the computer of the user is at risk. Evildoers can abuse the computer and interfere with the secure session which a user has set up with his or her bank. This way an evildoer can alter transactions or add entire new transactions during this secure session, leaving the victim with an empty bank account. Always make sure that the software on your computer is up to date. Install a proper anti-virus solution such as ESET NOD32 and perform regular scans. Internet banking is safe, make sure that your computer is too.

2009-10-15 01:49:29 by Leoprasy

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2 systems are available in bank.. 1. SMS banking service 2. online banking service.....which is best and more secure ??

SMS is a lot less secure than most other online banking services.

2009-09-01 23:28:09 by ggg

I am concerned about identity theft. Does it worth the trouble / inconvience sending the bill the old fashioned way by "postal mail"?

The top rated national banks have very good security and are safe if you follow normal cautions.

The biggest mistake people make is letting key loggers get onto their machine which will send your password to an outsider. Using a good anti-spyware (not anti-virus) program will prevent this. ( I use Spybot: Search and Destroy - it works well and is free)

Just make sure that you NEVER enter your info into a link from a message sent to you, or into a page where the lock, showing that encryption is turned on, is missing. You will see this at the bottom of the page on any secure site. Also, the address in your window will start with https and hot just http. This mean that the secure socket layer is running. If it does not have the s on the end, do not enter any info.

Last, change your password on a regular basis, and do not use obvious things like street names, kids names and the like. A hacker trying to steal your identity will be able to find out and try those type of passwords, and if he gets lucky and hits it, you loose.

2007-10-28 12:02:32 by pezheshk