Tips for Safe Banking
Over the Internet
• Federal Deposit Insurance Corporation
• Federal Reserve Bank of New York
• Office of the Comptroller of the Currency
• Office of Thrift Supervision
This brochure is intended to provide the public with basic
information about online banking. It is not intended to be a
legal interpretation of the regulations and policies of the FDIC,
the Federal Reserve System, the Office of the Comptroller of
the Currency, or the Office of Thrift Supervision.
Produced by the FDIC in collaboration with
• The Federal Reserve Bank of New York;
• The Office of the Comptroller of the Currency; and
• The Office of Thrift Supervision.
May be reprinted without restriction.
September 2000
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Over the Internet
• Federal Deposit Insurance Corporation
• Federal Reserve Bank of New York
• Office of the Comptroller of the Currency
• Office of Thrift Supervision
This brochure is intended to provide the public with basic
information about online banking. It is not intended to be a
legal interpretation of the regulations and policies of the FDIC,
the Federal Reserve System, the Office of the Comptroller of
the Currency, or the Office of Thrift Supervision.
Produced by the FDIC in collaboration with
• The Federal Reserve Bank of New York;
• The Office of the Comptroller of the Currency; and
• The Office of Thrift Supervision.
May be reprinted without restriction.
September 2000
PRINTER...prints pantone 5477 11/2/00 12:35 PM Page 1
As use of the Internet continues to expand, more banks
and thrifts are using the Web to offer products and
services or otherwise enhance communications with
consumers.
The Internet offers the potential for safe, convenient
new ways to shop for financial services and conduct
banking business, any day, any time. However, safe
banking online involves making good choices –
decisions that will help you avoid costly surprises or
even scams.
This brochure offers information and tips to help you if
you are thinking about or already using online banking
systems. We will tell you how to:
• Confirm that an online bank is legitimate and that
your deposits are insured;
• Keep your personal information private and secure;
• Understand your rights as a consumer; and
• Learn where to go for more assistance from banking
regulators.
So, before you click there, read here.
1
Confirm that an Online Bank Is Legitimate
and that Your Deposits Are Insured
Whether you are selecting a traditional bank or an
online bank that has no physical offices, it’s wise to
make sure that it is legitimate and that your deposits
are federally insured. Here are tips specifically designed
for consumers considering banking over the Internet.
• Read key information about the bank posted on
its Web site.
Most bank Web sites have an “About Us” section or
something similar that describes the institution. You
may find a brief history of the bank, the official name
and address of the bank’s headquarters, and informa-
tion about its insurance coverage from the FDIC.
• Protect yourself from fraudulent Web sites.
For example, watch out for copycat Web sites that
deliberately use a name or Web address very similar to,
but not the same as, that of a real financial institution.
The intent is to lure you into clicking onto their Web site
and giving your personal information, such as your
account number and password. Always check to see
that you have typed the correct Web site address for
your bank before conducting a transaction.
• Verify the bank’s insurance status.
To verify a bank’s insurance status, look for the
familiar FDIC logo or the words “Member FDIC” or
“FDIC Insured” on the Web site.
Final Online Banking Brochure 11/2/00 12:28 PM Page 2
and thrifts are using the Web to offer products and
services or otherwise enhance communications with
consumers.
The Internet offers the potential for safe, convenient
new ways to shop for financial services and conduct
banking business, any day, any time. However, safe
banking online involves making good choices –
decisions that will help you avoid costly surprises or
even scams.
This brochure offers information and tips to help you if
you are thinking about or already using online banking
systems. We will tell you how to:
• Confirm that an online bank is legitimate and that
your deposits are insured;
• Keep your personal information private and secure;
• Understand your rights as a consumer; and
• Learn where to go for more assistance from banking
regulators.
So, before you click there, read here.
1
Confirm that an Online Bank Is Legitimate
and that Your Deposits Are Insured
Whether you are selecting a traditional bank or an
online bank that has no physical offices, it’s wise to
make sure that it is legitimate and that your deposits
are federally insured. Here are tips specifically designed
for consumers considering banking over the Internet.
• Read key information about the bank posted on
its Web site.
Most bank Web sites have an “About Us” section or
something similar that describes the institution. You
may find a brief history of the bank, the official name
and address of the bank’s headquarters, and informa-
tion about its insurance coverage from the FDIC.
• Protect yourself from fraudulent Web sites.
For example, watch out for copycat Web sites that
deliberately use a name or Web address very similar to,
but not the same as, that of a real financial institution.
The intent is to lure you into clicking onto their Web site
and giving your personal information, such as your
account number and password. Always check to see
that you have typed the correct Web site address for
your bank before conducting a transaction.
• Verify the bank’s insurance status.
To verify a bank’s insurance status, look for the
familiar FDIC logo or the words “Member FDIC” or
“FDIC Insured” on the Web site.
Final Online Banking Brochure 11/2/00 12:28 PM Page 2