Unit 4: Banking Section 4: Making bank technology work for you

I CAN: Explain the pros and cons of ebanking Describe how to safely ebank and use ATMs

Advantages and Disadvantages of E-Banking Increased risk of fraud and identity theft if consumers are not careful with their personal information 24-hour access Fast transactions Paperless transactions Convenience Worldwide access  Regulation E was established to combat the security issues of electronic banking  Covers all EFT’s including transfers occurring through an electronic terminal, computer, telephone, or magnetic tape

E-Banking Safety If a consumer feels his or her funds have been accessed without permission Report the problem immediately to the depository institution involved To take full advantage of e-banking:  Keep personal security as your first priority  Know how to protect your personal information

When using an ATM, be safe by… Never give out your pin #, EVER Don’t share your card Go to the ATM privately (especially in walk up ATMs Take your receipt Be sure you are totally logged out before you go!

CAN I? Explain the pros and cons of ebanking Describe how to safely ebank and use ATMs