Bank transactions over the internet have become commonplace in a society more dependent on technology. In some parts of the world shopping over the internet has become bigger than traditional shopping. It is indeed much easier and less of hassle to order anything you want from the comfort of your own home. On the other hand internet frauds are flooding social network sites such as Facebook and Google+. There are a number of things you can do to make sure you don’t get scammed. This article is meant to show what steps you should take in order to have safe transactions over the internet. As with any solution it is not fool proof, and with hackers continuously working on new methods to get your money, you should always be careful and on the lookout for anything that looks suspicious. Still, if you follow these simple steps the chances of loosing your money on bank transactions over the internet reduce considerably. So, I hope this article may prove useful for you, and will manage to keep your wallet safe.

1.    Make sure you have an antivirus installed on the computer you are making the transaction from. As a general rule, you should only make bank transactions over the internet from your personal computer or from your company’s computer. Because large corporations have internal systems that protect computers from hackers and because you know every security measure you have installed on your PC. If you use a different computer you can never be a hundred per cent sure about its protection methods. At the same time you need to verify that your antivirus is up to date.

2.    You should have your username, password or card number written down on your PC somewhere, of course, hidden. There are a number of programs that track what you type from your keyboard. That is a pretty easy way for a hacker to get hold of your personal information. But if you always copy and paste this personal information from a secure document you should be safe from this type of attack.

3.    Check if your bank provides you with additional security measures. Lots of banks have developed in recent years new methods for safe bank transactions over the internet. You should always check if there aren’t some features of your account that you can activate specifically designed for transactions over the internet. There are some banks that for example give you a mini-computer form which you have to type a code every time you need to make a net transaction. For a short window of a couple of minutes you can make any kind of transaction using another code you receive on that mini-computer. That way, for anybody who doesn’t have the mini-computer the account is inaccessible.

4.    Check the site you are using for the transaction. You should always be on the lookout for scam sites. These are the kind of sites designed to draw you in with to good to be true offers. Also the design of the site tells you a lot about what to expect from it. If it is extremely simple and looks crude, than it probably a good idea not to make any bank transactions from it. It might be a good idea to have an account with specialized sites for internet transactions such as paypal that can make your life easier.       

5.    Delete cookies. After every bank transaction over the internet make sure that you delete the cookies from your internet browser. It would be a good idea to also uncheck the “remember my password” option from your browser as well. This stored information such as cookies makes it easier for hackers to get ahold of it.

6.    Keep a record of all your transactions. This is a good idea for any sort of bank transactions not just internet ones. If you keep a strict record of all the transactions you made than you have a much easier time to see when something goes wrong.

7.    Notify your bank as soon as anything seems to be wrong with your account. This is a very important step hat you need to keep in mind. As soon as you identify even a dollar missing from your account you should get in touch with your bank and tell them to freeze your account. Otherwise, it might be too late and who ever got ahold of your personal information will clear all the money from your account.

The steps I have mentioned are essential for a safe bank transaction over the internet. Basically all you have to do is be vigilant and very rigorous whenever you make a transaction over the internet. It only takes one time to get it wrong, and you could find yourself with all your savings gone.

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At some point of time in our life we all face a big financial trouble in one form of other. While some can be emergencies there are other that are invited because of our deeds. Today’s financial system has given us an easy access to money but what most of us completely forget is that this money has to be paid back too. The time we realize this we are either in deep debt or have already gone and footed a big bill. I say it to be common because it has not happened with me only but most of the people I talk with. Some get lesson, some repeat mistakes and some are completely ignorant of what has actually happened to their finances. It is all about money flow and how east or troublesome it gets depends upon how finances get handled by an individual.

When I was in big financial trouble some years back there was no solution in sight. Only thing that came to my mind at that moment was to stick to basics. In order to start you need to look at the root cause rather than its symptoms. A hefty clothing bill is just a symptom; the root cause is the extravagant shopping sprees you go out with the family.

The first step I took was to list down all kind of expenses I could think of for coming month. Yes these are not only credit card bills but my loan repayment amounts, amount I need to pay to others and money I anticipate would be borne by me in coming month. This way I made sure that the devil comes out in front of me. This was my first list. In this list I started marking those which were absolutely necessary items. Those were mainly the EMI’s that I could not have defaulted at all.

As a second step I prepared the amount that I would get from all sources. It was largely my income but since some EMI’s get shared by my wife and my brother I had put those in their too. This gave me a fair idea about the cash flow and how much money I would have to tackle my big list of expenses.

In third step I went back and calculated the shortfall I had. This gave me clear idea of money I need to somehow adjust against the stuff that was not absolute necessary. The focus was clear in my mind and with that I started finding a way out for items like the expenses I had left for gifts, cable bills, travel etc. Yes, I had to find a way out and with much brainstorming I was able to make the expenses meet the income and keep some reserve cash for me too. It involved some sacrifices but then I had no option too. The small amount of reserve cash acted as my moral support and avoided the feeling of being broke.

The above exercise I repeated for few months and with time as my big ticket items got paid I was cash positive again. Instead of spending this cash again on unnecessary items, I chose to pay my other bills or save them. This habit ensured that I give each of my expenses a due weightage and instilled in me a habit to save more and spend less. While I have not calculated how much I was able to save but the amount has been good enough to kill my other debts.

The only thing this exercise helped me with is to see my enemy clearly with both my eyes. The nature of expenses was clearly my enemy. When I could deduce who they are, I was able to devise a strategy to tackle them. It is important for you to know what is killing you else you won’t be able to take it head on.

Do this exercise for yourself and you would see that truth would itself get unfolded in front of you. Writing down things on paper or putting stuff in excel has a big power than talking or thinking in air. Make your enemies visible and you would have a better plan to tackle them

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