subject: Determining If A Bank Is Legitimate Before Opening A Remote Checking Bank Account [print this page] Small businesses and bank customers are making a switch from traditional banks and financial institutes, and switching to online or remote banks. Online and remote banks offer fewer fees, easy access to remote checking bank accounts, and 24/7 access to bank accounts. These benefits have attracted thousands of small businesses and bank customers to the joys of online or remote banking. However, despite the many benefits of online and remote banking there are some potential dangers you can encounter if you dont fully research the online bank or financial institute you choose to use. The following are some ways to tell if an online bank or remote bank is legitimate or not.
Checking to see if all remote checking bank accounts are FDIC insured is the first step to finding a legitimate online or remote bank. All legitimate online and remote banks have all their accounts insured by the FDIC. The FDIC is responsible for protecting any money or assets, up to a certain amount, that you or your small business puts into the bank. This protection covers small business and bank account holders in case the bank should be robbed or if the bank goes bankrupt.
Reading the fine print or terms of service provided by the remote or online bank before opening a remote checking bank account is another step to making sure you use a legitimate banking firm. People have a tendency to overlook the pages of fine print an online or remote bank shows them before opening up an account. It is important that you read all documents before signing, as you will want to check for any hidden fees, when you can access your bank account, where the money is held, and who you can contact in case of an emergency. These are all things that should be covered in the fine print or terms of service.
Researching customer service options is the last step to ensuring the online or remote bank you use to open up a remote checking bank account is legitimate. While most small business and bank customers will use their computers and smartphones to access their bank accounts, it is important to know what customer service options you in case of an emergency. Most legitimate online or remote banks will give you the option to get help through customer service either by online chat, forums, email or phone. If there is no way to contact customer support, it may be a sign the remote or online bank might not be the best option for you.
