Online banking explained

eSafety Commissioner shows you how to safely access online banking

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New course will build confidence in online banking.


A NEW course from the eSafety Commissioner aims to make online banking safer and more accessible to more older Australians.

While two-thirds of seniors do undertake online banking at least monthly, security concerns mean many are still reticent to do so.

"We take for granted that online banking has been widely adopted, but for many older Australians, 'taking the plunge' can be a huge leap of faith - the idea of having your money accessible and transferrable with one click can be both liberating and incredibly frightening," said eSafety Commissioner Julie Inman Grant.

Ms Inman Grant said 75 per cent of older Australians were concerned about the safety and security of online banking, so the course was designed around building confidence in this area.

The course will teach participants to transfer funds, check balances, download statements, pay bills - and help them to set strong passwords, avoid scams and use safe ways to communicate with their bank.

It also features a simulated online bank to help people practice skills learned in the course and help increase their confidence.

"Learning how to access online banking safely is critical for older Australians," Ms Inman Grant said.

The initiative has been welcomed by Australian Banking Association chief executive Anna Bligh.

"We want banking to be accessible and safe for all bank customers," she said.

"Importantly the module covers both banking essentials and online safety information to help warn people of potential fraud and scams.

"Remember: a bank will never ask for your account details, PIN or passwords."

The course is part of the Be Connected program, an Australian government initiative committed to improving the online confidence, skills and safety of seniors.

More details HERE