More Americans do not trust online banking

Cromwell, Conn. (WTNH) – A new poll reveals three quarters of Americans stay away from online banking.

Connecticut Better Business Bureau says one in four consumers are worried that automatic bill payments can result in unauthorized debits to their bank accounts.

Data breaches added to the problem. 51 percent say they don’t trust anyone with their data.

“The results of the poll tells us much about consumers’ fears of identity theft and other types of fraud,” according to Connecticut Better Business Bureau spokesman Howard Schwartz. “A growing number of them understand to what extent their personal information is at risk because of hacking of high-profile organizations, as well as the sharing of their data with third parties.”

Connecticut Better Business Bureau offers the following tips to protect yourself when banking online and avoid problems with recurring online payments:

  • Check out the business at the Better Business Bureau to make sure the business is credible and legitimate before setting up automatic debits.
  • Choose who controls the withdrawals.
  • Keep an eye on your account balance to avoid overdrafts, insufficient fund penalties and unauthorized charges.
  • Understand the terms and conditions, if you allow a third party to automatically debit your account, ask lots questions about the process.
  • When you want to stop recurring debits, call and write your bank, as well the company that is debiting your account.
  • Be selective about who you give your banking information to before arranging automatic monthly online payments.
  • File a complaint with Better Business Bureau if you have a dispute that you can’t settle with a particular vendor.

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