What should I know before signing up for online banking?
Prior to signing up for the service, you are advised to read and understand the terms and conditions of the service, which should provide:
- Information on duties of the banking institution and its customers
- Information on who will be liable for unauthorised or fraudulent transactions
- Mode by which you will be notified of changes in terms and conditions
- Information relating to how to lodge a complaint, and how a complaint is investigated and resolved
You should also discuss with your banking institution the risks involved in using Internet banking services and to understand fully your rights and responsibilities.
Reprinted with permission from BankingInfo (A Consumer Education Programme)
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