Is online banking less safe?
Does anyone know if online banking is really less safe than only being able to access the bank in person?
My grandparents refuse to open online banking for their account. I'm wondering if there's a way I can convince them?
Your grandparents might be using the wrong reasoning but online banking will open them up to scams. It's another vector for scammers to get access to their account.
Online banking, itself, is typically very secure. Social engineering is the biggest threat vector.
Older people get scammed more often, so I kinda get your grandparent's reasoning.
How is using an app going to get them scammed I don't get it
Using online banking means they need to create and maintain user accounts, which can then be phished. Online scams use wire transfers and they can be duped into sending money to a stranger. It’s not so much that online banking is insecure (although banks still insist on SMS 2FA which is not secure), it’s that it’s essier to scam people, especially seniors who are tech challenged.
Use both. Deposit / withdraw huge sums at the bank, always. For small payments, use online banking.
Depending on the bank, online security can be a hit or miss. Are your grandparents ok to learn and do stuff like secure passwords, 2FA..etc? If they are, go ahead with online banking. If not, there is nothing wrong with do the transactions at the bank.