Online banking is no longer the future of banking – it’s the present, and with good reason.
No longer do you have to design your day around your bank’s opening hours and wait in a queue to get served; many banking services are now accessible 24/7 through your laptop, mobile and tablet.
People who remember the old system can tell you that this isn’t just an improvement; it’s a quantum leap forwards.
Do you think you know all there is to know about online banking? Lovin Malta has teamed up with the Malta Financial Services Authority (MFSA) with a quiz testing your knowledge about it and tricks to keep yourself secure.
The MFSA is launching a campaign on online banking, aimed at informing consumers of the main benefits of and things to look up for when using digital means to carry out banking services.
And there are certainly many benefits…
For example, you can check how much money you have in your bank accounts without having to journey to a branch.
However, you can also manage your loans, check the transactions made by using your debit and credit cards, and check your bank account information.
Crucially, digital banking has also transformed the way we can transfer money to third parties – be it a friend or a partner or the repayment of debt such as a utility bill or the rent.
Basically, it’s a huge time-saver, allowing you to be flexible with the time you need to allocate to manage your own money.
What about security though? Online banking is actually extremely safe – banks aren’t allowed to offer banking services digitally to their clients unless they implement top-notch security measures, and update them when necessary.
Of course, there are additional security measures you should take yourself – things like not making your password too obvious and not using a public or shared computer, smart phone or tablet when banking digitally.
Online banking is undoubtedly the greatest development to hit the banking sector in decades, a technology that removes the act of banking from the confines of a physical bank and gives more flexibility to consumers.