Online Banking Basics

Every major bank has a website, but not all of them actually provide online banking services. Those that do can set you up with a free account to check your balance and make transactions.

Setting Up an Account

This can be done online or sometimes over the phone. You create a user name for yourself, a password and often a "security question" to verify your identity.

Passwords

If you forget your password, you use the security question to verify that you are the person who wants to access your account. A new password is sent to the email address you have given your bank or you are instructed in the email to reset your password.

Scams

Be aware of suspicious email that claim to be from your bank. A genuine email from your bank will never ask you to provide sensitive personal information, including your user name or password. If in doubt, call your bank.

Paying Bills and Paperless Statements

You can set up automated bill paying for monthly deductions like credit cards, utility bills, car insurance. You can also instruct your bank to send you statement notifications to your email, instead of sending it via U.S. mail.

Source:

Bank of America: Video Tour

Investorwords: Brief Overview