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What is an Online Bank Account Login?

The facility that allows customers to conduct their financial transactions on an exclusive secured website is called Online Banking. One can do so by using his/her online bank account login that will be provided by the operator of the web site. The operators of online banking can be retail or virtual banks, housing societies, credit unions etc…

The common features on online banking can be broadly classified into: • Transfer of Funds. • Making Investments in stocks and shares, mutual funds etc… • Obtaining Bank Statements. • Electronic Bill Payments. • Eliminates danger of being overdrawn. •

Banking Online has become a fairly simple process. The log in process is literally straightforward with a couple precautionary measures. Although it may sound a simple, easy step procedure from the outside to use an online bank account login for your financial services it ain’t so at the back end. The single password protection systems normally used in Internet Shopping Sites cannot be considered secure enough for online banking applications. In counties like Canada and many other in Americas there exist the following security methods to secure an individuals online bank account login.

PIN/TAN System: PIN represents password that is used for login and TANs are one - time passwords used for authenticating transactions. A one – time password makes it more difficult for an unauthorised user to gain access to restricted resources. TANs are generally distributed to the end user in the form of a list to the online banking user by post.

SIGNATURE Based System: In the signature based online system, all the transactions are signed and then encrypted digitally. Depending on the concrete implementation, the signature generation and encryption can be stored on any memory medium.

One of the latest additions to the concept of online baking is the “Save Online ID”. This can be used to save your online bank account login on your computer. This eliminates the need to manually enter your online bank account id manually every time you wish to use banking services online. The security isn’t compromised one bit by using this option. To ensure privacy a part of the online bank account login is hid. For example if the login ID is “happiness” it would appear as “*****ness”. Care must however be taken to not use online banking services on any of the public computers.

Another addition to the concept of online banking is “Handy Password”. Handy Password tool is a password recovery tool that helps recover all lost or forgotten IDs/passwords. Handy password memorizes your online bank account login and password to automatically fill the online banking form. It also supports the recovery of multi lingual passwords. Over all it has a user friendly interface and is compatible to use with all versions of Microsoft Internet Explorer. It also allows the user to save his/her password to a user specified location. With advancement in this field proceeding in a really fast pace there’s no doubt that online banking will be the wave of the future.

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