Understanding Online Banking

What is one of the primary benefits of online banking?

• Requirement to visit the bank for transactions

• Increased paperwork for transactions

• Ability to manage finances from anywhere

• Limited access to account information

Which of the following is a security measure used by banks for online banking?

• Public Wi-Fi access

• Multi-factor authentication

• Simple passwords

• Unencrypted data transmission

What should users avoid to ensure their online banking security?

• Using strong passwords

• Regularly updating their banking app

• Accessing banking services over public Wi-Fi

• Being vigilant against phishing scams

What is a potential challenge for some users when starting with online banking?

• Lack of customer support

• Limited banking hours

• Learning curve for non-tech-savvy users

• Inability to access account information

How does online banking enhance financial management?

• By requiring physical presence at the bank

• By providing 24/7 access to banking services

• By increasing the complexity of transactions

• By offering limited transaction options