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My Consumer Rights Info With Internet Banking

There is much controversy over whose responsibility it is when something goes wrong in the internet banking world.  Banks sometimes step up and hold themselves accountable for security measures as they should.  Other banks want to lay the burden on the consumer. 

You do have rights as a customer of internet banking.  For example, a phishing scheme might lure you into giving out your personal information.  This, in turn, could result in your internet banking account being raided. 

Internet banking companies are quick to point out that it is your responsibility to keep your username and password secure.  It must be un-guessable in the first place.  You must never write it down.  You must tell no one. It is your consumer right to keep this information to yourself and not divulge your password to a bank employee. 

You might be wondering who is responsible.  After all, you did fall for the scam, not your internet banking establishment.  You were the one who gave out all that information.  However, there is a regulation of the federal government that can help you.  It is referred to as Reg-E. 

This is the Federal Reserve Board’s Regulation E.  It covers all kinds of situations revolving around transfers made electronically.  The most important thing to remember about Reg-E is that you will recover your internet banking losses according to how soon you discover them. 

For instance, you might get your internet banking statement, see that fraud has taken place, and report it immediately.  In this case you will be required to recover your money.  Yet, you could get your statement, let it set on the server for two weeks without looking at it, and then discover fraud.  In this case, you would get less of your money back. 

The longer you waited, the less you would get.  At some point, you would lose everything in the account plus overdraft charges.  That is why it pays to take a quick look at your internet banking account frequently.  Even if you do not have time to go over every transaction, you will often notice discrepancies that you can report. 

If you wait two days or less from the time you get your official internet banking statement, you will only be liable for the first $50.  Another day and the price goes up to $500.  After 60 days, you have no recourse through the bank.  You would actually have to find the perpetrators of the crime, bring them to justice, and be awarded compensation. 

Furthermore, your internet banking is protected in ways that traditional banks are always protected.  You should receive safeguards to your personal banking such as the Fair Credit Opportunity Act.  The Truth in Lending and the Truth in Savings Acts are important to internet banking customers to assure that they get what they have agreed to.  Banks in this country are also required to have FDIC insurance. 

Most internet banking companies are on the level.  They are trying to establish a name for themselves through tight security.  Barring that, they seek to remedy the situation with great customer service.  Find a bank like this and you will have no problem getting them to respect your consumer rights. 


Help Fix Your Credit With Loans Via Internet Banking

Receiving loans through internet banking is easy and convenient. It is also usually cheaper.

There are many advantages of receiving loans through internet banking. You may never have tried this avenue of loans for financing before. However, it is worth considering, especially if you are already using other internet banking services.

One of the biggest advantages of receiving loans through internet banking is that interest rates are generally much lower. With overhead at a minimum, virtual banks can offer a great savings to the consumer. When your money costs less, you might get more upfront. Or, you might simply see lower payments or shorter term loans.

Another great advantage is that it is easy to comparison shop for loans. You could go into five different traditional banks and asked there terms and interest rates for loans. If you did, you would probably be under a certain amount of pressure to get a loan at each bank you entered.

However, if you are shopping for a loan through internet banking, you can check with as many different lending banks as you wish. You can get their information about loan policies and procedures. The most you will get in response if you choose not to get a loan will be an email you can easily delete.

If you apply for a loan through a clicks to bricks internet banking company, you can get even more consideration. They may know you very well. If you have used their services for a long time, you may be minutes away from a loan. All you have to do is click on a few buttons and the bank will review your history with them. The decision will be swift.

Virtual internet banking companies also have quick application processes. They also take your credit history at their bank into consideration. So, if you want to ask your internet banking establishment for a loan in the future, keep your account well now.

Another advantage is that, with internet banking in place, it is easy to get your loan money. In traditional settings, loan paperwork is filled out, a decision is made, a contract is signed, and a check is cut.

Then you have to get the check cashed. If it is a large check, your bank might put a hold on it for up to two weeks. In the meantime, all you can do is wait. You may have a genuine need for the money sooner, but the old system does not work any faster.

With internet banking, though, the application procedure is shorter. Then, the money is often deposited directly into your account. It is available for immediate use. This is especially true if your loan is with the internet banking company where you usually bank.

Then, internet banking companies make it easy for you to set up automatic payments to be deducted from your internet banking account. Of course, this is in their best interests. Yet, it also helps you to get in the habit of having that money deducted every month.

Receiving loans through internet banking is easy and convenient. It is also usually cheaper. All in all, it can be a much better way of financing life’s needs than going through a traditional bank.


Online Insurance Will Help Fix Car Repairs

Internet banking institutions offer insurance products along with their many other services.  It is a fast and easy way to set up coverage for all your needs.  This is because internet banking companies offer several different types of insurance. 

Car insurance is one kind of insurance you cannot do without unless you do not have a car.  Insurance is a legal requirement that you cannot escape.  Most people, in fact, prefer to have more than the basic required levels of insurance.  They want to know they will not lose everything if something goes wrong. 

Internet banking offers this option. 

You can go to internet banking websites and click on the insurance tab to get information.  You can also sign up online.  Because you will be entering personal information, you will need to sign up with the internet banking institution first. 

Then, you will give your name, address, and other pertinent information.  You will be asked questions about your car: its make, model, condition, etc.  You will then be rated according to your driving record, your car’s information, and your area.  Internet banking makes it possible for you to do this from the comfort of your own home. 

Another insurance product offered by internet banking sources is travel insurance.  Many international internet banking companies offer this.  They offer coverage for medical expenses when you are out of your home country.  You will not have to pay cancellation fees if you have this coverage.  It will address such issues such as lost luggage and theft of travel documents.  It is a good insurance to have if you can get it by internet banking. 

Many internet banking operations provide life insurance.  You can pay for term insurance with a simple automatic deduction from your internet banking account if you choose to do so.  You will have to fill out an online information form about yourself. 

It will include basic demographic facts about you such as age, race, and area of residence.  Then, it will get to personal questions about your health.  All this will be used to determine where the internet banking service will set your rate.  They will get back to you in short order with an offer of a particular rate and policy. 

Some internet banking companies go so far as offering health insurance.  Health insurance is usually a costly business for anyone buying an individual policy.  The internet banking company will set you up with this insurance for a competitive fee.  However, do not expect it to be cheap.  That is just the nature of the product. 

Bonding insurance is a seldom offered, but important insurance for some internet banking customers.  This is the insurance for the liability of people who are put in a position of trust of the money or valuables of others.  For example, a locksmith must be bonded.  A few internet banking operations make this insurance available. 

CEO’s of internet banking institutions are constantly on the lookout for ways to make their services more appealing to the consumer.  If offering a multitude of insurance options will help bring customers to their website, then that is what they will do. 


Internet Banking E-books Can Help With Questions

There are many intellectual books and articles about internet banking. Many of them can be found at your library or even online.

There seem to be few that the average person can read and understand. With a little investigation at your local bookstore and online, you can find some fairly recent books that have something to say to the average consumer about internet banking.

Scams and Swindles: Phishing, Spoofing, ID Theft, Nigerian Advance Schemes Investment Frauds. There are many how-to books with instructions about knowing when you are being taken for a ride.

If you read this book, you will get information from crooks who have scammed, people who have been scammed, and cops who have investigated scams. You will be given worksheets and detailed reports on recognizing internet banking fraud. It is a must-have book for anyone who wants to understand how frauds work.

In some books, the author discusses how internet banking services can be used to create wealth. The usual financial concepts are discussed. Understanding net worth and how to accumulate cash are important ones. Different types of investment vehicles are also mentioned.

The difference in some books is that it is all related to internet banking. It is all designed to make it easier to run your finances from your home computer. This not only includes your internet banking savings accounts. It includes stocks and bonds, as well. It is well worth the investment.

Some books shed light on how internet banking may become more popular in developing countries. They explain that mobile devices are much preferable to installed devices in such countries.

This is because, for anything that involves installation, like a satellite or cable service for internet, people have to wait quite awhile. The early users of the internet in developing countries will be those who have wireless internet. It stands to reason that these people will use their computers for internet banking as well.

Some books give a studious report on banking issues that affect the world. They include discussions of internet banking.
You can also order articles to download from the internet. One article discusses the implications of internet banking on mortgage lending. Another article claims that internet banking has forever changed mortgage banking.

It takes diligence to find pertinent information on internet banking. Much of the information is too outdated to be of any usefulness. A lot of it is written in complex banker’s language and words only an internet guru would love. However, there are some books that are interesting to read about the subject of internet banking.


Help Yourself With Internet Banking Websites

Is the nature of business forcing customers to use internet banking? Or, is there something in it for the customers?

There are many advantages to using internet banking.

It is easy to open an internet banking account. You sit, in the comfort of your home or office, and type in the answers to a few questions. You set up security measures that will be used to access your account, like usernames, passwords, etc. Then, all you need to do is print off and sign a form to send in to complete the process.

Internet banking is cheaper. With the advantage of having no physical structure to keep up, virtual banks have low overhead. They can afford to cut you a break by offering higher interest rates on your savings. They will also offer lower overdraft fees. Even banks that are backed by physical buildings encourage online banking with free bill paying services.

Internet banking allows you to compare deals easily. You can go to different online banks and find out their interest rates and policies about checking and savings accounts. You can learn what credit cards they offer, and at what rates. You can compare loan terms. You can check with the FDIC to check the banks’ credibility.

Internet banking customers can watch their daily balances. By going on the internet to the bank’s website you can look at what is going on in your account any day or time. You can check your balance. You can find out if a particular check has cleared your account or see when automatic deposits are made. All these services make check bouncing nearly a thing of the past.

Your monthly statement can be reconciled by using your computer. You can download your bank data into a software program like Quicken or Microsoft Money. Then, with a few clicks of your mouse you can square up your account. Through your internet banking account, you can even see copies of checks you have written.

You have a better chance to catch fraudulent use if you have an internet banking account. When you check your debits and deposits, you will most likely notice if something is there that you did not do. If someone withdraws money from your account, you will know it as soon as you log on and look over your account. Then, you can work on correcting the situation long before you would even notice it with conventional banking.

Internet banking is much more convenient than traditional banking. You do not have to wait for the bank to open its doors. You do not have to drive to get there. If you are using internet banking for your office, you will not have to waste valuable time going to the bank. You can manage your funds anywhere, any time.

Internet banking is growing for a reason. People are getting accustomed to transacting business over the internet. They are enjoying the convenience and the control over their money that internet banking gives them.