This may be the last chance to know intensively, how email is a useful component of online banking…
This’s what a lot of people do not know, mailing is a vital tool used for online banking, and it helps in security, without the mailing idea, the security of online banking will be easy to tamper with.
I bet you don’t want to put your money in an unsecured place…
You may have wondered, why these banking Apps are stuffing your emails on every transaction, you probably might have been mad at them.
I will be giving you information on why this is so, I feel after this, you won’t have to get angry at them at every sight of their mail.
The first reason for mailing is security; the other reason is mostly for marketing. Below are the reasons mail can be an important component in online banking.
How Email Help in the security of an Online Banking
Even when you go for a physical registration, the staff in charge of the registration mostly ask for your mail, don’t you think the mail is very vital?
It has not even gotten too sophisticated online banking (which is the usage of online banking software), yet your mail is very useful.
When you will be getting your bank online banking app, everything will be backed up with your mail, which is more reason you should have mail.
Let’s think outside the box of the local banks, let’s go to the cryptocurrency world, the blockchain for instance is a very good example.
In this case, you have to set up your blockchain cryptocurrency wallet with your mail.
Reasons why your mail is important in online banking
1. Reduce fraud
I use my mail a lot in other not to lose money, some scammers now send you fake alerts, but I never fall, victim, since my local bank and cryptocurrency wallet is linked to my Gmail.
My Google emails serve as a backup in whichever online transaction I am processing, this will prevent scammers from duping me and getting away with my hard earnings.
If you send me money through my local bank, I do not confirm until I can see the successful transaction in my mail.
The same thing applies to my cryptocurrency world.
If you follow this step, then I assure you of a safer transaction online, no one can send a fake alert or fake cryptocurrency to you. You can always confirm from the right source (your mail).
2. Ensure topmost security
Just for some seconds, divert your attention from online banking to social media, popular social media such as Facebook, Twitter, Instagram, and the like use mail to ensure users’ accounts are safe.
In most cases, if anyone tampers with your account, a link will be sent to your mail inbox in other to reset your password.
By doing this you can hijack your account from that intruder… this sample is just to let you know that mail is not useful to online banking alone, it helps most online accounts to stay secure.
Coming back to the useful component of online banking, it has helped to improve security in banking online.
When you are setting up your mobile banking App, a confirmation link is also sent to you, in this case, you are telling the system to trust no one except you.
Now, no one can use another mail to access your account, provided you keep the login details of your mail very confidential.
3. Proof of payment
This may also tally with the act of preventing fraud, but this proof of payment is for a different purpose.
For instance, you are purchasing a data plan from an online banking app.
On every transaction being made, you get an instant receipt, this is proof that you paid for what you just purchased.
So in the case of technical issues, like delay in data delivery, if you contact the support, in most cases the support team will be telling you to send proof of payment so that they can review it
Even when there is a general technical issue, your data will be sent to you manually, you can now see how useful the mail can be to online banking.
4. Help in retrieving lost account
I do this a lot for my cryptocurrency banking App; there was a time my phone got stolen. I had a reasonable amount of BTC in my wallet as of then.
I never panicked, I had to borrow my cousin’s phone, install the blockchain wallet, and then set up everything I need to do.
I withdraw some amount to my local account, and after that, I uninstalled the blockchain account from his phone so he will not tamper with it in the future.
I got a new phone after the withdrawal has been successfully processed; I then retrieved my blockchain account back, just the way I did on my cousin’s mobile phone.
This should not have been possible without my mail, so never underrate the power of your mail when it comes to online banking.
The most interesting thing is that retrieving your banking account is not different, there is no difference between retrieving your bank mobile app and my blockchain wallet. You only need to follow practical steps in other to be on the right track.
5. Marketing
You have a lot on your table, so putting something in your mind for a long may not work well.
Most times you register with an online banking App but you were never serious about it, you don’t deposit or buy cards from them.
This is the reason for marketing, at least just for a reminder that they still exist. More Important, they tell you they have an amazing package for you.
They notify you via your mail when there are bonuses that should be broadcasted, maybe the bonus can be a driving force, and this may allow you to get serious with them.
This is just a marketing strategy that allows banking companies to get more valuable users.
 Conclusion
You now have an insight into how well your mail can be a useful component of online banking, here is my advice for you.
Make sure you keep your mail login details confidential, no one is to know the information aside from you, happy secure online banking!
