https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy by Jasleen Bhelay Money Matters Assignment 2 en-us 2022-04-01 23:01:51 UTC 2022-04-04 20:35:14 UTC hello@padlet.com https://padlet.net/icons/png/1f4b8.png jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2126231040 Welcome to my wall! I will be discussing important aspects to online banking through many different platforms. You will learn about the pros and cons. As well as the significance of online banking and the risks. ]]> 2022-04-02 03:32:09 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2126231040 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2126917057
This website mainly discusses what online banking is, online banking with your mobile phone and computer and individuals' responsibilities and safety. Many individuals use online banking; it is a great way to pay bills online or transfer money between accounts. In other words, to do banking on a computer, log in to your financial institution's website, or you can download the app on your mobile phone. Safety regarding online banking does not share personal information such as passwords and security questions. 

I chose this website because it discusses a great introduction to online banking. In addition, it has excellent tips about setting up a strong password and how important it is to protect your passwords. ]]> 2022-04-03 05:18:50 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2126917057 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127579123 This website discusses the advantages and disadvantages of online banking. The advantages listed are the availability as you can check your bank account at any time. Easy to operate, simple and easy to use, and quite convenient as you don't have to go to the bank by banking wherever you are. The disadvantages listed are internet requirements; there are great precautions for online banking; however, it can be susceptible to hackers. Lastly, It can be difficult for beginners. 

I chose this website because it discusses excellent points on the pros and cons of online banking. Looking at a list of pros and cons can help individuals make decisions regarding their situation. ]]> 2022-04-03 22:54:50 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127579123 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127727463 This website communicates the benefits of online banking for a business. Many individuals have a big or small business, and using online banking can make an individual's banking experience much more efficient and easy. Additionally, an individual will have an easier time transferring money, fewer trips to the bank, and pay bills online. 

I chose to represent this website because it is important for individuals to understand how it can impact an individual's business in a significant way. As stated on the website, individuals prefer traditional banking; however, many individuals are starting to realize how online banking can be very beneficial.  ]]> 2022-04-04 01:29:46 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127727463 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127793039 This website communicates with the best online banks in Canada. First, the best bank is Tangerine because they provide many services, offer a chequing account, five types of saving accounts, and special interest rates for new customers. Secondly, the best bank for retirement savings is EQ bank. They offer tax-free savings accounts, which allow individuals to reach their goals more quickly. Additionally, they have no monthly fee, automated account choices and free unlimited Interac e-Transfers. They do not have a chequing account, so this is best for individuals focused on saving. Thirdly, the best bank for high-interest rates is Neo Financial. They have no annual fees, and Neo Mastercard offers cash-back rewards.
Furthermore, the best bank for product selection is Simplii financial. They provide Simplii Financial Cash Back Visa, no monthly fees, a chequing account with free unlimited transactions, and access to cash withdrawal services. Another best bank is Manulife for small businesses as it has a business advantage account that provides individuals with the flexibility of easy access to funds without fees. Finally, the best bank for GIC savings is Achieva Financial. It mainly focuses on savings as it offers a daily savings account, TFSA, RRIF and RRSP Savings Accounts.

I chose this website because it listed many great options of the best banks. This can be very useful when an individual needs to select an online bank for their financial needs and goals in the future. ]]> 2022-04-04 02:21:15 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127793039 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127939782 This video shows how to download the RBC mobile app for online banking. First, an individual will need their credit card and online banking number. Then message to 722722, and in the message field, type in RBC. Once sent, it will reply will the link for an individual to install the app. Open the app and sign in using your client card number and password. When you first sign in, it may ask security questions for security reasons. When signed in, it will give you a quick introduction to the app, which can be beneficial for beginners starting to use online banking. 

I chose this video as an example because this can be helpful for individuals that are with RBC, especially for beginners. ]]> 2022-04-04 04:32:18 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2127939782 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2128038358 This video is about Hoover, that got over $1,700 stolen from her bank account after e-transferring a friend. RBC had stated that her friend's account had gotten hacked. Also, Hoover had a weak security question which may have led to this situation. Additionally, a cyber security expert states that financial institutions should make stronger protections for e-transfers like two-factor authentication. Overall, this video also says how to protect yourself to avoid this situation by never sharing your password, changing your passwords often, and using software to protect your mobile phone computer from viruses and spyware.  

I chose this video because it is something everyone should be aware of, as a hacker can be a danger to online banking. However, financial institutions have many protections and protocols against fraud, but there can still be a risk. ]]> 2022-04-04 06:05:39 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2128038358 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2128039078 This video is about hackers revealing how they steal bank information. Hackers say that they use an algorithm to get account numbers and pose as a customer who had forgotten their passwords. This allowed the hacker to reset the security questions and answers. As a result, it gave them access to the customers' accounts. Once a hacker has individuals' information, it can result in the hacker buying goods that are then resold and identity fraud.  

I chose this video because one thing that stood out to me is how frightening it can be when hackers can easily get our account number and pose as the customer. An individual needs to change passwords regularly and constantly check one's banking account so that these types of situations can be avoided. ]]> 2022-04-04 06:06:27 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2128039078 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2128132851 This video is about online banking vs traditional banking. Online banks offer lower fees and higher interest rates, service, and technology interruptions; contacting online bank customer service can be difficult, whereas customer service is much easier to access in traditional banking. Additionally, traditional banking has safety deposit boxes so that an individual can keep their personal belongings safe such as jewellery and confidential documents. Online banking can be more secure than traditional banking because when paying a bill and sending a cheque through the mail, it can get lost, so paying a bill online can be more secure and easy. 

I chose this video because it discussed great points. It is beneficial for an individual who wants to select either banking. When it comes to choosing either online banking or traditional banking, it would depend on an individual's financial goals and needs.]]> 2022-04-04 07:19:25 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2128132851 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2129338990 This image represents how mobile banking in Canada and the cashless future. 2.5 million Canadians downloaded a mobile banking app, as stated in the image. Additionally, many individuals do not carry cash and would rather pay through mobile devices. Another aspect to note is that because of covid, many individuals are banking online. ]]> 2022-04-04 19:22:34 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2129338990 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2129363889 This image shows that it can be very easy for you to do your banking online. All your information is online for you to access anytime and anywhere. As well as when paying a bill, you can easily pay it online whenever it is convenient and for you. ]]> 2022-04-04 19:39:59 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2129363889 jasleenbhelay https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2129391919 1. This topic was interesting as I learned the importance of online banking as well as the risks. 
 
2. This topic is relevant to me because I have been using online banking for a while now, and it has been very beneficial for me. It is quick, easy and efficient when it comes to paying bills. 

3. The most important thing I would pass on to my family/friends is by constantly changing passwords, regularly checking your accounts for unauthorized transactions, having strong passwords and do not share them with anyone. ]]> 2022-04-04 19:58:41 UTC https://padlet.com/jasleenbhelay/hl2dgoww73ic5esy/wish/2129391919