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| Internet banking provides a fast and convenient way of performing common banking transactions on the Internet. If you have a computer with Internet access, a web browser and a registered account for Internet banking from your banking institution, you’ll be able to do your banking from the comforts of home, office or virtually anywhere else in the world. |
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| What Else Can I Do? |
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| With Internet banking you’ll be able to: |
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Check your balances and statements online |
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Submit applications for new accounts, credit cards or loans |
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Transfer funds between accounts |
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Pay your bills, credit cards, and insurance premiums |
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Create, change and cancel standing orders |
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Request for cheque books and check the status of your cheques |
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Request to stop cheque payments |
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Apply for bank drafts and telegraphic transfers |
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| Like any other system, Internet banking poses a risk for users when it comes to security. However, any potential risk can be minimised with continuous checks by the banking institutions and even by yourself as a user. |
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| Some safety measures conducted by the banking institutions include: |
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Regular tests of the system to ensure its reliability |
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Provision of internet security arrangements to ensure a secure infrastructure |
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Usage of a number of security technologies such as encryption, firewalls, automatic log-off and monitoring tools |
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Installation of system to detect and disable attacks from hackers |
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Undertake a periodic review every 6 months to assess possible risks and detect possible weakness in the banking institution's risk management system |
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| If you have an account with a banking institution that also offers Internet banking services, you may apply to use its Internet banking facilities by logging on to its website and following the application procedures provided. Information about the banking institution’s security practices can also be found on each banking institution’s respective website. |
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| Remember to also look out for terms and conditions that cover: |
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Duties of the banking institution and customers |
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Unauthorised or fraudulent transactions |
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Mode by which you will be notified of changes in terms and conditions |
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Information about lodging complaints and how your complaint can be resolved |
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