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November 18, 2004
Online Banking
I find the ease of online banking quite disturbing. It is so easy and I can do almost anything with my money once I am logged in. When thinking about it, is the ease worth it? I am unsure about it.
Once logged in to the account you can view written checks to view account numbers, routing numbers, account balances and even signature samples. Can this information lead to increased identity theft? The only thing stopping a person from the vast knowledge of information contained in my online bank account is a simple password. Getting a persons' password is extremely easy. It can be done with key logging programs, spyware, guessing or even as simple as looking over someone's shoulder.
As uneasy as I am about online banking, all of the information that is online is accessible to anyone that you write a check to. You don't think about it, but that shady cashier at the drug store handles the information that could ruin your credit history all of the time. Heck, every check that you send in the mail is subject to a security risk. The internet is not helping out either. Most websites will allow you to put in your checking information instead of using a credit card. Once you have the account number and the routing number you can use someone's checking account just like a credit card.
I really do like to be able to check my balance at any time, I also like the fact that I can see when checks have cleared. I also like that fact that the bank doesn't return all of the old checks anymore. When thinking about it, I believe that online banking is safer than writing a check.
Posted by Rex at November 18, 2004 11:18 AM