Online banking lets you pay bills and send money easily. Here is how to do it safely, and the one scam to never fall for.
Paying safely:
- Bill pay: many banks let you pay companies directly from your account. Set up the company once, using details from a real bill, and confirm the amount before you send.
- Transfers: moving money between your own accounts is safe and reversible within your bank.
- Sending to people (Zelle, etc.): treat this like cash. Once sent, it is usually gone and cannot be reversed. Only send to people you know and have confirmed. Double-check the phone number or email before sending.
The one scam to never fall for: the “safe account.” A caller says they are your bank’s fraud department, your account is under attack, and you must “protect” your money by moving it to a safe account they name, or by reading them a code you just got by text. This is always a scam. A real bank will never tell you to move your money to another account, and never asks for your one-time code.
A quick example. “This is the fraud team, move your balance to the safe account now.” You hang up and call the number on the back of your card. The real bank says there is no problem. You just dodged a scam that empties accounts.
What to do:
- Use bill pay and transfers with confidence, confirming details first.
- Treat Zelle and person-to-person payments like cash: only to people you know.
- If anyone tells you to move money to a “safe account” or read a code, hang up and call the number on your card.
General education, not financial advice.