Aug 10, 2015 06:37 PM
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Since my mother is working in bank for over 27 yrs now, she knows a lots and lots of stuff related to bank, both good and of-course many banks. She comes back home and sometimes tells me some of the stories of bank's customer loosing online in a mischievous ways, some because of Cards and some because of Internet banking.
And this is one the reason why, I did not get an account for whole and sole myself until this march 2015. And before that, I only had the bank account from my mother's bank and I only had the assess to Debit card just for ATM payment and I was advised by my mother not to use the card for any online payment like purchases, etc. Internet banking! Hell No. Even my mother being a bank employee doesn't have Internet banking account.
Well so, one day I asked her why?
And she explain this -
Internet banking account can be accessed from anywhere. Thats means, if you don't have a computer at home but you have got to access your account for sure, the only next easiest option you got is, go to a web center, get an access to a PC and access you account. But here come the possible potential threat. And if someone else get access to you PC without your knowledge, even by the means of Hacking, thats it, Your money is gone.! And there is no way to get it back. Complaint like these come a lot to my mom's bank.
Even Debit cards are not that safe. A small carelessness and just like you see in movies, someone else can steal you money from debit card. Even online shopping theft happen sometimes. Though its not a theft because you get the money back, but you money from you account via card usage is taken up by that e-commerce site, leaving you its lots of confusions.
Even my brother lost some money this ways. He made payment only for product, costing about Rs.800, but money deducted from his account was Rs.1600. Woa. But he somehow files a complaint and go the money back.
- My mom states that, =Even CBS(Central Banking system) is a dangerous & unsafe system=, because one or anyone can view your account details from anywhere. So he would know you value and property details(your economic worth) and there are chances of crimes like blackmailing, theft and even revenging Raid possible due to this.
But Old type of Banking, known as Traditional Banking though is today brought into the eyes of Internet, is still almost considered safe, because Hacking into their secure systems is almost impossible. And any loss of money due to bank's mistake, you are liable for that loss and bank will compensate back.
The only mischievous way possible, only if the employee of the bank is itself the thief, which is a rare phenomenon. So Now comes the Good in Internet Banking - Access your account from anywhere. Very useful system in today hectic world.
The Bad thing - Is what I explained above. A lot more is there actually.
Good thing with Traditional bank - Old is Gold. Safe process because no one else has access to your account except your bank personals.
The Bad thing - Hectic process and loss of lots of time. Not suitable for the current fast moving Internet world.
Overall - Well as far as I would say, Though internet banking had made our lives easier, it is still open to threats and possible thefts. But Traditional banking is still considered the safest bank procedure unless otherwise the bank systems core are hacked by a Naspter.!
On Adding note, yes in near future, we all will be forced to use only Online Transactions because of huge rise in Internet facilities. So I hope, more secure systems and procedure will arise to reduce there internet based money crimes.!
