Most people today pay their bills via the banking app. Trading stocks or cryptocurrencies is also quick and easy with e-banking. So you have to be all the more careful of hackers and fraudsters.

Online banking is now standard for most bank customers, the advantages are obvious. And the corona crisis has also further boosted the digitization trend. But can you still manage without this tool these days? We have put together the most important things:

• If you do your payments and stock market transactions at home on your computer, you will benefit from lower fees for most offers. Due to the lower administrative effort, most financial institutions are of course interested in having as many customers as possible use e-banking.

• The account opening is relatively simple , so most offers can be compared online and set up immediately. For definitive use, you will normally receive a confirmation code for your registration in the mail and you can then log in using the PhotoTAN process.

• With online banking you can download the receipts yourself and print it out, for example for the tax return. Although this is practical, it also causes additional work that the bank passes on to you.

• In addition to the usual security risks , the major disadvantages of e-banking arebut also the limited liability of the financial institutions if an incident should occur. If, for example, your PIN or TAN is misused, it will be difficult to prove this to your bank and you may be left with the damage amount.

• You can still pay bills at the post office counter . However, this takes a lot of time per payment and you have to bundle payments so that you don't have to run to the post office for every single invoice.

Online banking makes your life easier in many ways. Despite all the advantages, caution is required when using it: In terms of security, you should make sure that you always keep the device on which you conduct your online business up to date and that you pay attention to common security precautions such as virus protection or safe surfing .

This also includes a healthy amount of distrust of suspicious emails and inquiries on social media. Hackers are constantly developing new methods to outsmart unsuspecting users. You can find useful security tips for online banking here. Although e-banking has now become the rule, compulsory online banking across the board is not (yet) conceivable. Although cumbersome, nowadays everyone can do their banking without a computer or smartphone.

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By Teresa Tapmleton

Teresa Tampleton has been a reporter on the news desk since 2018. Before that she wrote about young adolescence and family dynamics for Styles and was the legal affairs correspondent for the Metro desk. Before joining The Nizh TEkegram, Teresa Tampleton worked as a staff writer at the Village Voice and a freelancer for Newsday, The Wall Street Journal, GQ and Mirabella. To get in touch, contact me through my 1-800-268-7341

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