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.

WTNH NEWS8 provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Also, you can now block any inappropriate user by simple selecting the drop down menu on the right of any comment and selection "Block User" from there.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s