Benefits and Risk of Online Banking

Benefits and Risk of Online Banking

Young Americans Bank Online Banking offers you an alternative electronic channel where you can manage your bank accounts and perform banking transactions over the internet. Online banking is available to all Young Americas Bank customers.

With Young Americans Bank Online Banking you will be able to inquire on your account balances, transfer funds, and view your transaction history.

Online Banking offers you 24-hour access to your accounts every day. It is a quick and convenient, allowing you to perform your transactions anywhere, anytime and form any computer with access to the Internet.

The Internet is a wide area network of computers connected around the world to facilitate data transmission and exchange. Due to the open nature of the Internet, all web-based services such as YAB’s Online Banking are inherently subject to risks such as online theft of your User ID/UserName, Password, virus attacks, hacking, unauthorized access and fraudulent transactions.

On Young Americans Bank’s Online Banking you must enter your own Access number and confidential Online Banking Password every time you access the system.  You must ensure that your password is known ONLY to you.  You should change your password regularly and ensure that it is a combination of letters, numbers, and special characters and difficult for people to guess.

While the Bank has put in place the necessary security practices and measures to safeguard against these risks, the Bank is still unable to guarantee the complete security of your transactions against any attacks.

As an Online Banking customer, you play an important role in protecting your account information.

Never access your Online Banking accounts through hyperlinks in e-mails, pop-up windows, or search engines.

Be Aware of unexpected hoax and scam e-mails with attachments and be aware of suspicious web sites.

Always access your account by typing the web address in the address bar of the browser or by selecting the bookmark for the genuine website.

Install personal firewall and anti-virus software and regularly update them.

Never leave your computer unattended while logged on to Online Banking.

Always log out of your accounts after you have finished your banking session.

Never give out your password.

Do Not use your date of birth, phone number, address, your name or name of a friend/pet/relative in your password.

Change your password regularly- every two months preferably.

Do Not use your online banking password for anything else (ex. Email)

Always be cautious when using computers in public place. Do not leave screen idle for long periods or leave the computer unattended.

Online and Computer Security Tips

To provide our customers with secure online access, Young Americans Bank continually works to maintain and improve our online security. To help you protect your own security Young Americans Bank has comprised a list of tips to help you protect your computer and your account information.

Keep your computer operating systems up to date.
If your computer is more than five years old, its operating system (e.g. Windows 98) may not offer the same level of protection as newer systems. Manufacturers provide updates that help make your system more secure. Some updates are supplied automatically through email or your Internet connection. You can also check your operating system’s web site.

Always use a current web browser.
When you are working online make sure that you are always using a current web browser. If you are using an older browser it may not be able to protect the transactions on internet banking. You may need to upgrade your browser.

Install personal firewall.
Though many office networks include a firewall protection, many home computers do not have the necessary security to protect you. Check with your operating system to see if a firewall is already included before purchasing a separate one.

Install and update anti-virus software.
Anti-virus software helps protect your computer by reducing the risk of your computer contracting computer viruses. These viruses can compromise your security, and the anti-virus software program offers upgrades to protect against the latest computer viruses.

Activate a pop-up blocker.
Many companies offer free pop-blocker online. You should make sure that these programs are from legitimate companies before downloading. This can protect you against fake email sites. When you have the pop-up blocker activated you may need to turn off the blocker to view some information that only comes on pop-up windows.

Scan your computer for spyware.
Spyware and adware are programs that look in on your Web activity and could potential relay information to a disreputable source. Search the internet for free spyware or adware removal programs. Make sure that the removal program is from a legitimate company.

Use secure web sites for transactions and shopping.
Be sure the web page you are browsing offers encryption of your data. Often you will see a lock symbol in the lower right-hand corner of your internet window. Also the web address you are viewing may begin with “ https://…”. The “s” means that the web address is a secure address and uses encryption.

Avoid Downloading from unknown sources.
Downloads from unfamiliar sources may have hidden programs or viruses that can affect your computer’s security.

Disconnect from the Internet when not in use.
DSL and high- speed cable provide a constant connection between your computer and the internet. Disconnect the internet to avoid unwanted access to the information on your computer.

What We Do
How does Young Americans Bank protect my personal information? To protect your personal information from unauthorized access and use, we use security measures that comply with federal law. These measures include computer safeguards and secured files and buildings. We also maintain other physical, electronic and procedural safeguards to protect this information and we limit access to information to those employees for whom access is appropriate.