Coming across increasing financial frauds, more than 13000 across India in 2023 alone, the responsibility to remain vigilant lies on users. While cybercrime solutions can be of assistance in most cases, retrieving the money is not always possible. The only way to keep your hard-earned money safe is by being active when considering finance-based actions and transactions.
When planning to open a savings account online, refer to a detailed guide on tips and key perks.
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Perks of Online Savings Accounts
Source: 53.com
Savings accounts are a common method to legally keep your money safe while earning interest on it. You can expect a wide number of perks, including:
- Saves time and is cost-effective
- Offers interesting interest rates with around 7.25% per annum
- Instant access to the account
- Higher security with minimal paperwork
- Access any information online without visiting the bank
- Compatible with both Android and iPhone
- Opt for video banking if required
- Opportunity to enjoy annual savings worth INR 50,000
How to Open Savings Account Online Securely and Seamlessly
Source: nj.com
The ease of opening a savings account online is available everywhere. But how does it promise security and seamless service? Let’s uncover:
Filling the Form
Traditionally, banks required you to fill out the form, which would go into numerous hands. Further, it required the signature of an already existing account holder of the desired bank for security purposes. These posed loopholes in confidentiality and infringed on the right to privacy. All of it has been removed with online filling in of the essential information when you open a savings account online. Now, you can relax knowing that you filled out your information and reviewed it only by authorised bank officials.
Documentation
The traditional method required depositing a copy of one’s multiple personal documents. The online method has eliminated the steps by sticking to the minimal document requirement. With a specific requirement of Aadhaar and PAN, which are also to be submitted digitally, the system has removed the interference of strangers in handling your documents. Thus, your personal details are stored safely in a bank database accessible only to authorised individuals.
Fund Your New Account
Once you have completed the necessary documentation, the next step is to fund your new account. With multiple options to deposit in your account, any person’s interference is eliminated. You can transfer the funds directly from any payment gateway using a Debit card or through funds transfer via NEFT or IMPS.
Open Your Account
Once you complete the three simple secured steps, the account will be opened. You will get a confirmation message about the same. Focus on how each and every process was secured to ensure you the complete right to privacy. For any assistance, the virtual assistants are there to help you guide or resolve your queries.
Safety Tips to Follow While Opening Savings Account Online
Source: time.com
While the process is designed to be completely safe and secure, the banks still urge the users to ensure safety measures. Here’s what you need to know and practice actively when dealing with bank and finance matters:
The OTP is one of the root causes of many fraudulent transactions. It is the most important point emphasized by the banks. Regardless of how genuine a caller sounds, give yourself a few minutes to think with a sound mind. No authorised official will ever call you to ask for an OTP.
Do Not Click on Email Attachments
Phishing emails are the older and more common form of tricking individuals into hacking systems and information. If you receive an unexpected email from an unknown user, ensure you don’t click on it. Additionally, remember not to download any file or click on the attachment associated with it, even if you do. Besides phishing emails, the advisory is also about the official bank website. Make a Google search rather than clicking on the email attached link.
Avoid Sharing Phone and Details
With multiple methods to hack, duplicate, or even receive your calls and messages, it’s better not to trust any stranger. Find out alternative ways to aid.
Use the Official Website For Help
Source: nj.com
It includes calling customer service or performing transactions. Always open the app or head on to the official website to get the number of customer service. Ensure the URL has ‘https://’ before taking any action on the website. Do not put in your login ID and password anywhere else except the official website. Also, do not save it on digital devices.
Use Your Own Device and Internet Connection
Regardless of the emergency of accessing your account or the urgency to make a transaction, ensure that you use only your own laptop or computer. With an easy way to copy the movements and different technologies to memorise your touche, be safe than sorry. The internet connection can also have loopholes that can allow unauthorised users to access your account.
Conclusion
Opening a savings account online is possible with revolutionising digital technology. Simply upload the documents, fill in the details and the amount, and your account will be opened. But how does this promise your security? Knowing it is important to help you judge the steps and effective security when you are opening the account yourself.
The article sheds light on the issue and offers tips for using the digital banking method. An active and sound mind is the most important key to your security. Ensure it remains conscious all the time!
