01.
Get the most out of Online Shopping
02.
Safety tips for online shopping
03.
Tips for Safe Online Banking
Online Shopping / Banking
Although it makes peoples lives a lot less complicated, consumers must be cautious when and thorough when processing their online transactions. As identity theft continues to rise, consumers need to ensure proper precautions are exercised in order not to be taken advantage of by Internet scams.
With banking and shopping being two of the most used online services, it is imperative that consumers protect themselves. In order to initiate and complete these transactions the consumer must provide personal information.
In most cases this information is critical to the consumers financial well being. Such information includes bank account numbers, credit card numbers, social security number, as well as other vital data. This information is usually provided via e-mail or directly on the providers website.
When transmitting this information the consumer can subject themselves to a variety of potential risks. The databases that collect this information can be subjected to hackers who search the Internet and prey on unsuspecting consumers. There are also a multitude of illegitimate organizations doing business on the World Wide Web. However, there are ways to protect yourself that we will discuss throughout this newsletter.
Getting the most out of Online Shopping
Take advantage of searches. The Internet has a world of information on it. Use it to your advantage. Type in key words like "best toys for preschoolers". With in seconds you will have many to choose from. It is usually best though to limit your search. For example "best outdoor toys for girl preschoolers". This way you will be more effective in finding the perfect product.
Check product safety and quality. If you were to do business with a company you would most likely check them out with the better business bureau prior to paying. The same is for products. Always look into consumer reports and other data in regards to the product that you are purchasing. This can all be done on the Internet as well.
Try to use well known sites. Most stores have online shopping available. You want to go with a reputable company so you know whom you are dealing with. Often times the big chains of stores offer discounts and promotions online. The other plus to online shopping at a local store is if you receive a defective product it will be easier to exchange.
Comparative shopping. One of the main benefits to shopping online is that you never need to leave the comfort of your home. You can basically sit down with the computer and visit various sites with the same products. Take advantage of this and save some money. You can look for the same product on different sites and compare prices.
Always contact the company. There is always a contact number on the site. Once you find a product call the company to make sure they have it in stock. A lot of times websites are not updated daily, especially around the holidays. By doing this you may save yourself some time and aggravation.
Save money on shipping. Many companies offer multiple shipping discounts or even free shipping if your purchase is over enough money. Be sure to look into that. It may seem minimal at the time but it adds up and can save you a lot of money.
Look for coupons. Some sellers will offer coupons right on the website, while others will not. Do a search on the Internet for that company's coupons and you will be pleasantly surprised at how much money you can save. If you are unable to find any coupons call the customer service department and ask. Often times there are coupons or promotions that are not widely advertised.
Auction sites. Ebay and Ioffer are very popular auction sites. Many times you receive a great product for a lot less money than in stores. The advantage to Ebay and other auction sites is that you can check the feedback scoring. For those of you who do not shop Ebay yet, feedback is how other buyers and sellers rate that person.
Safety tips for online shopping
Know whom you are purchasing from. Remember there are a lot of scams on the Internet. You could be talking to someone in another country who will get your banking information and empty your account. The best way to protect yourself is to get a physical address and phone number. This will also protect you in case you have any questions about the product.
Read the fine print. A lot of times the bold letters are what catches your eye. Even a picture of a product can be deceiving. Be sure to read all information about the product prior to paying. Also find out the return or exchange policy.
Pay by charge or credit card. You have the most protection when using a card. The Fair Credit Billing Act will protect you. This law gives you the right to dispute charges under certain circumstances. If by chance someone charges your card without your permission you will not be held liable.
Keep important documents. Print out any correspondence that you have with the seller and file it for future reference. Also print out a receipt and product description for your records. Assuming that you paid with a credit card be sure to monitor your statements for any unauthorized charges.
Be cautious about giving your personal information through email. If this is the only way to give the information be sure to make sure the site is secured. For instance many reputable sites have locks on the bottom of them. The lock is proof that the site is secured and cannot be hacked into. However, this is not foolproof some locked sites have still been tampered into. Just be cautious.
Do not bypass the privacy policy. This policy will tell you what personal information will be required and how the company or seller will use it. If you cannot find or understand the privacy policy be wary. It is recommended to even take your business elsewhere.
Go with your instinct. A lot of times you will see advertisements on the Internet that sound great. You think to yourself that it is too good to be true. The majority of the time you are right. To protect yourself check the same product at various different sites to compare prices.
Bait and switch merchants. This is common with online purchases. The merchant will call you to "verify" your order after you have paid. Suddenly the seller is trying to sell all different kinds of things like warranties or accessories. Just politely say no and if the seller is pushy you should cancel the order and move on. You also want to contact your credit card company to advise not to pay. If the merchant continues to contact you then you can put a complaint in with the attorney general where the merchant resides.
Tips for Safe Online Banking
Always review your monthly statements and monitor your account online as much as possible. Be sure to report any inaccuracies as soon as possible. Also ask your bank what security measures they take to protect your account online.
Monitor your credit report. It is recommended to check your credit report every 6 months. Be sure to check your report with all 3 bureaus. The contact numbers are as follows: Equifax-800-997-2493, Transunion-800-888-4213, and Experian-888-397-3742. If there are any problems or concerns contact them in writing.
Opt out of information sharing. Many banks and credit unions will offer to share your information to "get you better rates or deals". The problem with this is that you do not know the other party. You should also take your name of the preapproved mail. You can call the Credit Reporting Industry PreScreening Opt Out number at 888-567-8688.
Be cautious about what you carry. A lot of times businesses ask for 2 forms of identification. Try to avoid using personal information like a social security card.
Lock personal information up especially at an office environment. Do not just leave personal information around like your account numbers. Use a drawer with a lock on it or a safe.
Destroy personal data. Any statement or paper that has personal data on it should be shredded. Destroy any CD or floppy disk that contains your information on it. If you are getting rid of your computer deleting the files is not enough protection. You need to buy software that will erase everything from the hard drive. The other option is to remove the hard drive and destroy it.
Guard your mail. Some people actually steal other peoples mail to collect personal information. You may want to consider get a locked mailbox with a slot or a PO box. If you do all banking on the Internet it may not be necessary to receive paper statements.
Firewalls. Many offices have firewalls on their computers to protect hackers from entering. This is a good suggestion for your home computer. Anyone who does online banking should have anti spyware or a firewall installed on the computer. Nothing is foolproof but it does cut your chances of having information stolen.
Always log off. You should always log out of a banking website regardless where you are. Just be extra careful to log out on a public computer. Don't pay any bills or conduct any other financial transactions on public computers. For added security unplug the computer's cable or phone line when you are not using it.
Passwords. Pick a password that is undetectable. Try to make it at least 8 characters long.
Got a question? Then contact our Education Team on 561-883-2398 Ex.310
United conducts regular seminars on financial education, including "How to Budget", come along and join us - to reserve your seat contact our Education Team on 561-883-2398 Ex.310
Newsletter 10
Rev.1
October, 2007
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October, 2007 Topic
Online Shopping / Banking
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