Online banking pros and cons Sacramento CA

Banks have embraced the internet as an inexpensive way of doing business with their customers. However, there are several major risks of online banking, including identity theft.

Local Companies

First Northern Bank
(916) 567-6270
1007 7th St Ste M100
Sacramento, CA
First Bank Services
(916) 646-5000
1788 Tribute Rd Ste 304
Sacramento, CA
World Savings
(916) 920-2667
1510 Arden Way
Sacramento, CA
U S Bank
(916) 733-0480
3418 Broadway
Sacramento, CA
American Commercial Mortgage Llc
(916) 334-2300
Sacramento, CA
Umpqua Bank
(916) 446-9762
1 Capitol Mall Ste 600
Sacramento, CA
Wells Fargo Bank
(916) 928-2640
3220 Arena Blvd
Sacramento, CA
U S Bank
(916) 920-4111
1440 Ethan Way
Sacramento, CA
Wells Fargo Bank Na
(916) 429-4010
7050 Stockton Blvd
Sacramento, CA
Tri Counties Bank
(916) 648-9370
1760 Challenge Way Ste 100
Sacramento, CA

Unfortunately, certain clever criminals have made the very notion of online banking inherently risky. Using a system known as "phishing", these unscrupulous types have sent out millions of e-mail messages that appear to be from legitimate banking institutions, asking customers for personal information, such as usernames, passwords, credit card numbers and Social Security numbers. Many people have replied to these messages without realizing that they are not from their bank, but from someone who wants to steal information from them.

An even worse problem is that of "pharming" where malicious code directs customers who are trying to find a bank's Website to a site that the criminals have set up that looks just like the real one. This one, however, is only there to steal information.

This has led to some customers losing money, as the crooks have been able to infiltrate their bank accounts using the stolen information. An even worse outcome is that there is not a bit more unease among all consumers about engaging in financial transactions online.

There are a number of solutions in the works. Some of them involve more detailed questions of customers as the log in, so that their identities can be more accurately confirmed and so that the customers can be assured that they are at the right Website. The hardware solutions are more effective, as they require that the customer use a physical device to connect, such as a card that displays a number that changes once a minute that only the real bank's server knows. The problems with these solutions are cost and the problem of physically distributing the devices to the public. Internet commerce is still in its youth, and these problems will eventually go away as the entire system becomes more sophisticated. In the meantime, customers who bank online should make a habit of becoming more cautions as they use the Web for financial purposes.

About the Author:

©Copyright 2005-06 by Retro Marketing. Charles Essmeier is the owner of Retro Marketing, a firm devoted to informational Websites, including http://www.homeequityhelp.net, a site devoted to information regarding home equity lending.


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Featured Local Company

Travis Credit Union

800-877-8328
P.O. Box 2069
Vacaville, CA

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