Bank of America Sing In

There is a lot you should know about Internet banking. It can save you time, money and effort, but it’s important to protect yourself from potential pitfalls. Below is information on banking options, different types of online banking, services and advantages, protecting your privacy, “cookies” and privacy, security, regulations that protect consumers, and filing a complaint against a financial institution.

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Banking Consumers’ Options

• You can go to a traditional “brick and mortar” institution that has a building and personal service representatives, but doesn’t offer Internet banking services.
• Or you can bank at a “brick and click” financial institution that has a physical structure, and also offers Internet banking services.
• Or you can choose a “virtual” bank or financial institution that has no public building and exists only online.

Internet banking, and other types of online banking, offer advantages such as speed and convenience. But since the Internet is a public network, it presents some privacy and security issues. Knowing the “Do’s and Don’ts” of Internet banking can help make your online banking experience more productive, safe and enjoyable.

Two Different Types of Online Banking

Internet banking is usually conducted through a personal computer (PC) that connects to a banking Web site via the Internet. For example, a consumer at home accesses a financial institution’s Web site via a modem and phone line or other telecommunications connection, and an Internet service provider such as America Online, Microsoft’s MSN Network, Earthlink, Juno or AT&T WorldNet.

Internet banking also can be conducted via wireless technology through both Personal Digital Assistants (PDAs) or cellular phones.

Electronic banking is conducted by using Automatic Teller Machines (ATMs), telephones (not via the Internet) or debit cards. Debit cards look like a credit card. But unlike a credit card, using a debit card removes funds from your bank account immediately.