Personal Finance
Are Online Banks Safe? Video
Are Online Banks Safe?
Yes! Here are 3 reasons why…
Reason #1: Secure Tech
Online banks’ mobile apps typically have:
- 2-Step Authentication
- Bank Alerts
- Fraud Monitoring
- Debit Card Lock via Mobile App
These mobile features can prevent criminals from stealing your hard-earned money.
Reason #2: No Wasted Paper
As digital organizations, online banks use less physical paper than traditional banks … Online banks use encrypted connections to send/receive:
- Bank Statements
- Bill Payments
- Remote Check Deposits
Less paper means less unnecessary exposure of your private financial data.
Reason #3: Agile Team
Because digital banks are smaller than traditional ones, they’re quicker at adopting the latest security tech… New security tech helps online banks use sophisticated security measures that keep your data safe.
Bonus Reason! FDIC Insurance
Because online banks are FDIC-insured, your money is guaranteed for up to $250,000.
