In today’s commercial era, no one wants to waste time by standing in never ending queues at a bank branch. The facility of online transaction is a gift of technological advancement. The term online transaction refers to a payment or transfer of funds through a password protected online method.
There might be times when you want to transfer funds to your child studying abroad or make payment for something that you have bought from an e-commerce site. When we want to pay for services or goods we have an option of paying through an online transaction through the Electronic Fund Transfer system. This method requires the Personal Identification Number (PIN) of the user in order to complete the process.
How to make a safe Online Transaction?
Even though the advent of online transaction is a revolution in the world of banking, it has its drawbacks as well. A little bit of carelessness on part of the user can cause big problems. There are n number of fraudsters and scammers who are looking out for just a single loophole, so as to dupe the user. You should be extremely careful while giving out your debit or credit card OR account details to any website. While sometimes it becomes impossible to escape a trap, it is mostly in the hands of the user to be safe.