Accessing online banking while in Europe
 

Hi. I hope this isn't a silly question, but if it is, forgive me!

All the tips I read say to make sure you've informed your bank if you have payments due while OS. Same for any other payments due. I'll be in Singapore and Europe for about six weeks.

Normally I deal with my accounts online each month.

Is this not possible while I'm away? I must be missing something. I can't see why I can't access wifi to do these payments.

Thanks for reading.

Jane

>>All the tips I read say to make sure you've informed your bank if you have payments due while OS.<<

I think you misunderstood the advice. Most of the time they are talking about telling your bank and credit cards the dates you are out of the country. This is so they don't freeze your accounts thinking there are fraudulent purchases - the cards being used outside of the country will look like unusual activity. Nothing to do with bill paying.

>>Normally I deal with my accounts online each month.

Is this not possible while I'm away? <<

You can access your accounts on line just like normal.

However public WiFi is not secure, so I personally would be reluctant to access my bank account from hotel WiFi, especially if you are having to supply passwords or codes.

Can't you arrange for the bills to be paid automatically by your bank? Or do all you can before you go, and the rest will have to wait until you get back.

I meant to add that on my internet banking I can make the date payable any date up to a year in advance. Maybe you can do the same if you know what bills you will have to pay.

It's also normal for some banks and accounts to go through extra security procedures -- remember your first pet? first car? -- to set up a new and different computer.

There is no problem in accessing your internet banking from anywhere in the world, but you should let your bank know when and where you're traveling. Also, be aware of the public wireless connections. See if you can use your mobile provider's internet options so as to be sure your connection is safe.

Or you could set up a VPN before you leave. Really, anyone who travels should do this, it's simple and obviates the need for being vaguely "aware" of public wifi dangers.
http://www.pcworld.com/article/20307...vpn-today.html

Much is made about the risks of using public wifi while travelling. I consider most of it scaremongering based on a very small percentage of risk. What's more the risk is only the risk of hassle, not the risk of losing money.

My bank and I believe most banks, provide me with a Guarantee when using online banking. One reads as follows:
"In the unlikely event that someone gains unauthorized access to your accounts through our bank online services, we will reimburse you 100% of the money lost from your accounts provided you have met your responsibilities to us."

The responsibilities they refer to simply mean using a firewall, anti-virus/anti-spyware software and not disclosing account or password information to a third party.

So if using your laptop etc. you probably (certainly should have) that covered already. Using public wifi does not change that.

If using a public computer (ie. in an internet cafe) then you just have to ask if they have a firewall and anti-virus/anti-spyware software on the computer you are going to use.

Just Google for your bank's, 'online banking guarantee' and you should find it.

Thank you for all this.

Some of my commitments vary which is why I had hoped to do online banking while away. However, it appears this may not be safely feasible so I'll do what I can before I leave.

I'm taking my ipad with me. Thanks for all answers!

Sojourn, I basically agree with you, except that losing money out of an account one needs for traveling while one is overseas could be a big hassle. It could, for example, take your bank some time to refund your money.

What's worse than a hassle is identity theft. IMO, that's the thing to be afraid of, much more so than losing money. It doesn't happen often, but that's small comfort if it happens to you.

Lastly, a firewall on your laptop might be strong enough to repel an attack if you are plugged into an airport USB--might. Your phone or iPad won't be. Something to keep in mind.

I have been doing my banking online while on the road for many years now NewbE without any problems.

I agree it has risk but again, I think too much is made about a small risk. No matter how many people get hacked, in reality it remains a small percentage of all those who go online.

Ii use multiple bank accounts and move money from one account to the other etc. to limit what a hacker might gain access to. I don't log in to more than one account at any given time. Each account is guaranteed by my bank. So if someone got some money, I'll get it back. It isn't going to be all the money I have in the world.

I use a smartphone to log in to my accounts which is in fact the most secure way of doing so. More here: http://news.yahoo.com/blogs/upgrade-...182159934.html

Bottom line, nothing in life is risk free and it's all about calculating the degree of risk involved. To me, the risk of being hacked and it having any really serious consequences is about the same as the chance of me winning the lottery.

If someone wants risk free banking, it doesn't exist. Cyber Insurance is available if someone wants it as is identity theft insurance.

Nswscrapper, perhaps if you are that risk averse, you might talk to your bank about their telephone banking services.

I do sometimes phone my bank to arrange something more complicated. You just set up security questions and answers with them and sign an agreement that says they can take verbal insructions from you.

Now the 'hacker' is going to have to listen in to your phone conversation to steal your info. How paranoid are you?

Consider subscribing to a personal VPN service. It creates an encrypted "tunnel" so you can make financial transactions online safely. We use Witopia, but there are many others. I've used it to makes financial transactions all over the world and have never had a problem. I do pay my bills online, move money around, make brokerage truncations, etc.

Do inform your banks when and where you will be so they don't turn off your access when you use a credit, debit or ATM card in a foreign country.

I did have my email compromised after using an unsecured network in Burma a number of years ago so now I use Witopia even to check my email.

<Now the 'hacker' is going to have to listen in to your phone conversation to steal your info. How paranoid are you?>
With respect, Sojourn, I think you don't understand how hacking is done, which accounts to a great extent for your relaxed attitude. And I say again, I do not think a hack would render one penniless forever; I think it would be a big hassle to find oneself in a third world country without access to one's money or email. So to me, it's about avoiding hassle with a simple solution: a VPN. Free, easy, secure--why not, is the real question.

Well, you made no mention of using a VPN NewbE.

But I would like to hear how likely you think it is that my phone coversation with my bank is going to be targeted by a hacker in a small town somewhere in the world. Come on, it's very low risk.

It does appear that VPN(I understood this till now to be of use only within companies. ie. office to office, remote to office) has now become (last 5 years)a viable alternative for the individual. I just read this: http://searchenterprisewan.techtarge...ivate-networks

I also looked at Kathie's Witopia which I see has a cost attached, not free. Which is free? I do see this as something worth looking into.

Going back to start, my initial comment was simply that I believe the risk is overblown. I've never said it is non-existant. It is all about how risk-averse or risk-tolerant the individual is. If it happens, I'll have to endure the hassle and any other temporary inconvenience it might incur as you say. But I am willing to risk that.

If VPN is now free and easy, I would agree, why not. Up until now I have not known of any free and easy 100% risk free solution and so simply weighed the risks and chose not to join the 'don't risk getting hacked' brigade.

Actually, Sojourn, my very first comment above on this thread was about creating a VPN, which you clearly did not read. Read it now, if you like. There are free and paid VPN options out there.

Ah yes, you did, my oversight. So why then do you suppose the OP came back with, "it appears this may not be safely feasible so I'll do what I can before I leave."

Seems like the OP didn't appreciate your answer (and Kathie's later) was quite a safe approach.

I thank you both for bringing the recent changes to VPN to my attention. Any comments on the 'free' choices from either of you?

It seems like there are issues around using it (speed, bandwidth, number of servers, etc.). Reading this article: http://www.pcmag.com/article2/0,2817,2390381,00.asp and the comments attached to it at the end, it seems like a post here on the topic of VPN might be of interest to many readers.

Looks like some good info here but the writer does not reccommend any 'free' VPN offerings.
http://www.greycoder.com/best-vpns-2014/#dontrecommend

Specifically, he says, "I don’t recommend using free VPNs because they are usually run by untrustworthy companies, and tend to sell your private information."

Banking online is never going to be 100% foolproof. All one can do is reduce the risks a much as possible. Using Internet banking in a public wi if spot such as a cafe, hotel or restaurant will increase those risk ssignificantly. I would never, ever access banking or investment websites over public wifi without using a VPN any halfway competent hacker could access data an passwords etc very easily - it would be like sending your cc numbers and passwords in an open email which could be read by pretty much anyone.

If you do want to use banking facilities whilst away, with a decent bank you can now access many facilities at ATMs, or by telephone banking.

If planning on using online banking abroad, use a VPN. There are lots around but not all are great. Some of the free services are not great as the have I limited bandwidth and will slow down your browsing considerably. I would pay the extra to get a decent service. Always make sure you are using a https site or one marked with a padlock.

Most banks do provide some form of guarantee against online theft and it MAY be possible to recover some or all of any losses provided that you have acted responsibly and quickly ( the latter may not always be possible when abroad), the question of acting responsibly will be decided by the bank. The press is full of reports of people who lost money dues to online fraud and had problems getting the cash back from their banks., in many cases it is up to the customer to proved they were not at fault.

Even if you do get back any missing funds, the problems caused by even temporary loss of funds and a closed bank account in a strange location could be extremely inconvenient at least.

public wifi spots are a big source of hacking/ fraud using a reliable VPN will reduce risk considerably.

Crellston, well said!!