5 Tips For Safe Internet Banking

Safe Internet Banking in Nepal is one hot topic among digital banking enthusiasts and experts as Nepalese, nowadays, extensively rely on online and mobile banking for their financial transactions. We will look into details of acquiring tips for safe internet banking in this blog.

Internet Banking- A brief introduction

Internet Banking, otherwise known as net banking or online banking, is an electronic payment system that enables customers to make financial or non-financial transactions via the internet. Internet banking gets all your financial duties done within a few clicks. Anyone who has signed up for online banking can access it. A consumer who registers for online banking services does not need to visit the bank regularly to use the service. It is not only practical, but it is also safe

With Internet banking, you can get online access to almost every banking service. Some major services are:

• Paying utility bills and making TopUps
• Send money instantly
• Make a quick look or check statement and many more

How did the COVID pandemic impact Internet Banking in Nepal?

Prior to COVID, banks and financial institutions of Nepal often refrained from digitizing their processes as the concept of internet banking was not properly welcomed. But the physical shut-down that COVID-19 brought swiftly removed this resistance and dilemma. With the onset of COVID-19, health became a priority, but people needed to access their money and the various services and ultimately, they had to adapt and rely on internet banking for safer and instant banking services. Since then, people have been more into internet banking than traditional banking practices.

Why is Safe Internet Banking Needed?

While internet banking is full of goodness, it is still vulnerable to hacking and phishing. Talking about phishing, it is a fraudulent method of obtaining personal banking information. And hence as an internet banking user, you must know about phishing and practice Safe Internet Banking activities.

So, we have come up with 5 tips or preventive measures for safe internet banking. Let’s learn about them in detail.

• Keep your password updated/changed regularly.

An account-holder, who opts for internet banking and makes the first-time login, is given a password by the bank. Afterward, they can change the password for convenience and security. Changing passwords at regular intervals to reduce the chances of being phished. Thus, everyone should keep their password secure and confidential.

• Avoid public computers to log in.

In some cases, it may be necessary to use cyber, where many individuals log in and undertake various online activities. Not everyone who uses those computers is rightful. These promiscuous internet users can track or see your password and make a move to transfer your money to their accounts. Thus, you must be very careful when logging in from such locations. Always erase the cache and browsing history, delete all temporary files, and never allow your browser to remember your username and password.

• Keep your credentials and Transaction Pin safe.

Having your credentials and transaction pin shared with people is an act of bringing risk to your bank account. Also, you should not give your login information to an apparent phone call from a bank or any bank official. For internet banking, you must visit the official login page, enter your username/phone number, and then your password. When you log in, always see the phrase “https://” in the URL, as this indicates the site is secure.

• Always Check your savings account regularly.

After performing online transactions, you must check your account. You should always double-check if the correct amount has been credited or debited from your account. Contact the bank right away when you see any anomalies in the amount. The bank will monitor activity and take appropriate action.

• Use A Strong Anti-Virus software.

Installing Anti-Virus software, which protects your computer from viruses, is another crucial step for safe internet banking. Antivirus softwares is available free in pirated versions, but it will not safeguard your computer and will send you updates. To keep your private information safe, make sure your antivirus software is up to date. Along with this, you must disconnect the internet connection while not in use to prevent unwanted hackers from accessing your computer and your bank account.

Does NIC ASIA Bank ensure Safe Internet Banking?

NIC ASIA Bank highly values its customer’s data and funds and would not leave any stone unturned to maintain security for them. Operating its mobile banking via NIC ASIA MoBank App and online banking via the NIC ASIA Bank website, NIC ASIA Bank remains vigilant and dedicated to every action of customer’s internet banking. The Bank’s effort for safe internet banking practices includes:

•  Two-factor authentication is provided.
• Customer interaction with the bank via phone or online banking is recorded.
• Secure database systems and servers where data is stored and the bank accesses them for further use.
• NIC ASIA Bank ensures secure processes, including KYC (Know Your Customer) updates for customers, NDA (Non-disclosure agreement), etc.
• The bank maintains continuous communication to cater best and most convenient banking services.

NIC ASIA ensures to implement every best practice when it comes to safe internet banking in Nepal. The secure website of NIC ASIA Bank rarely has disappointed customers. While the bank takes its steps for safe internet banking in Nepal, it also stays at the forefront and actively works to educate all customers about smart and Safe Internet Banking.

Visit NIC ASIA Bank for further information. For any queries or confusion, feel free to contact us.

Feel free to share this article with your friends and family if you find this blog interesting.

For more: What is Digital Banking in Nepal- A Complete Guideline