Internet usage continues to expand, and that includes banking transactions.  More and more banks and other financial institutions are using the Web to offer products and services, as well as enhance communications with their clients. 

Although online banking is generally considered safe, convenient, and secure, that does not mean that you should be complacent against online predators who aim at getting your financial information at their advantage.

Most online banks have actual physical banks.  If you encounter an online bank that has no physical office, you really need to make sure that it is legitimate and that your deposits are federally insured.

Get to know more about them

Check the site’s "About Us" section or similar page that describes the institution and look for vital information such as its official name, address of its headquarters, and its insurance coverage from the FDIC.

Check the links from authenticity

Some copycat online bank sites deliberate use a name or Web address that is very similar to that of a real financial institution. 

Before clicking the link, check out the website of the financial institution it refers and contact whether they own the website in question. 

We insist that you never click the link of fraudulent websites, as it opens an opportunity for online thieves to steal vital personal information such as credit card numbers, online banking PINs, and account numbers.

Verify the banks’ insurance status

Search the site for the familiar FDIC logo or phrases such as "Member of FDIC" or "FDIC Insured."  You should also check the FDIC’s online database of its insured institutions. 

Be aware that an online bank may use a different name from its traditional service, but that does not mean you are dealing with a separate bank.