Internet Banking Tips
Karpaty Credit Union obtained the following information from
www.mastercard.com.au.
Please visit the MyCard Mastercard site for further information
in regards to preventing fraud.
Make the most of shopping Online.
Shopping on the Internet is just as safe as shopping in a store or by mail. Now that people feel comfortable shopping online, it is experiencing rapid growth. In the 12 months to November 2000 for instance, 10% of all adults in Australia, or over 1.3 million people, purchased or ordered goods and services via the Internet.*
Being a worldwide marketplace that’s available 24 hours a day, the Internet makes it easy to locate what you want, and shop around for the best price. The following tips can help ensure that your online shopping experience is a safe one.
1. Know who you’re buying from
Anyone can set up a shop on the Web. So it’s important to have some knowledge of their reputation. If you're not familiar with the merchant, it’s wise to do an online search to check recommendations and feedback from other customers. Also, find out the company's refund and return policies before you place your order. These should be available on the company's website.
2. Guard your privacy
Don't disclose personal information unless you know who is collecting it, why they need it, and how they’ll use it. Some companies sell their customer information to other parties. Most allow you to decline to share your information. Read the website’s Privacy Policy, and if it doesn’t have one, be wary. Look for the seals of privacy organisations like TRUSTe or BBBOnLine.
3. Get the details
Check for expected delivery dates, shipping and handling fees, warranties, return policies, and other important information. Look for an email address to write to, or a phone number to call if you need help.
4. Use a secure browser
Your browser should be able to use Secure Sockets Layer (SSL), which scrambles or encrypts the purchase information you send over the Internet, helping to secure your transaction. Browsers which support SSL include Internet Explorer, Netscape, AOL, Opera and Mozilla.
5. Keep your passwords private
Never share your passwords, and keep them secure. Avoid using simple words or your birth date. Use a combination of numbers and letters.
6. Use a credit card
Your credit card agreement with the financial institution that issued your credit card can ensure that your liability for an unauthorised charge is limited, often to $50. Of course, you must notify your financial institution immediately if you become aware of an unauthorised transaction in your credit card account, or your card is lost or stolen. Be certain to check the terms and conditions of your financial institution's credit card policy, and your responsibilities.
A purchase made in the U.S. may be governed by the U.S. Fair Credit Billing Act, which in turn creates different liability protection and responsibilities on the part of buyers.
If you don't receive the goods you ordered, or they are of an unacceptable quality and you have returned the goods, ask the financial institution that issued your card if it will undertake a 'chargeback'. They may be willing to cancel the transaction and reverse the payment to the business. Policies vary, so check with your credit card issuer. But be certain to do this as soon as possible if you decide that you want a chargeback. The longer you leave it, the less chance there is for you to limit your liability.
7. Keep records of your transactions and payments.
Many online companies will email you an order confirmation that summarises the price and quantity of a purchase. You should print a copy of this, and any other information about your purchase in case you need it later.
*Australian Bureau of Statistics: 8147.0 Use of the Internet by Householders, Australia
e-Wallet
The MasterCard e-Wallet is the easy way to safely store your payment and personal information in one place ready to be accessed when you need to pay for something online. Find out more about its benefits and then download the MasterCard e-Wallet.
Make the most of shopping Online.
Shopping on the Internet is just as safe as shopping in a store or by mail. Now that people feel comfortable shopping online, it is experiencing rapid growth. In the 12 months to November 2000 for instance, 10% of all adults in Australia, or over 1.3 million people, purchased or ordered goods and services via the Internet.*
Being a worldwide marketplace that’s available 24 hours a day, the Internet makes it easy to locate what you want, and shop around for the best price. The following tips can help ensure that your online shopping experience is a safe one.
1. Know who you’re buying from
Anyone can set up a shop on the Web. So it’s important to have some knowledge of their reputation. If you're not familiar with the merchant, it’s wise to do an online search to check recommendations and feedback from other customers. Also, find out the company's refund and return policies before you place your order. These should be available on the company's website.
2. Guard your privacy
Don't disclose personal information unless you know who is collecting it, why they need it, and how they’ll use it. Some companies sell their customer information to other parties. Most allow you to decline to share your information. Read the website’s Privacy Policy, and if it doesn’t have one, be wary. Look for the seals of privacy organisations like TRUSTe or BBBOnLine.
3. Get the details
Check for expected delivery dates, shipping and handling fees, warranties, return policies, and other important information. Look for an email address to write to, or a phone number to call if you need help.
4. Use a secure browser
Your browser should be able to use Secure Sockets Layer (SSL), which scrambles or encrypts the purchase information you send over the Internet, helping to secure your transaction. Browsers which support SSL include Internet Explorer, Netscape, AOL, Opera and Mozilla.
5. Keep your passwords private
Never share your passwords, and keep them secure. Avoid using simple words or your birth date. Use a combination of numbers and letters.
6. Use a credit card
Your credit card agreement with the financial institution that issued your credit card can ensure that your liability for an unauthorised charge is limited, often to $50. Of course, you must notify your financial institution immediately if you become aware of an unauthorised transaction in your credit card account, or your card is lost or stolen. Be certain to check the terms and conditions of your financial institution's credit card policy, and your responsibilities.
A purchase made in the U.S. may be governed by the U.S. Fair Credit Billing Act, which in turn creates different liability protection and responsibilities on the part of buyers.
If you don't receive the goods you ordered, or they are of an unacceptable quality and you have returned the goods, ask the financial institution that issued your card if it will undertake a 'chargeback'. They may be willing to cancel the transaction and reverse the payment to the business. Policies vary, so check with your credit card issuer. But be certain to do this as soon as possible if you decide that you want a chargeback. The longer you leave it, the less chance there is for you to limit your liability.
7. Keep records of your transactions and payments.
Many online companies will email you an order confirmation that summarises the price and quantity of a purchase. You should print a copy of this, and any other information about your purchase in case you need it later.
*Australian Bureau of Statistics: 8147.0 Use of the Internet by Householders, Australia
e-Wallet
The MasterCard e-Wallet is the easy way to safely store your payment and personal information in one place ready to be accessed when you need to pay for something online. Find out more about its benefits and then download the MasterCard e-Wallet.
View Karpaty's brochure "A Simple Guide on How to Protect Yourself Against Fraud"
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