The Scam Alert Blog

Yeah, that’s just what I need… another bank account.

Seriously, you do… and here’s why.

First, with all the competition among major banks these days it is hard to find banks that charge for a checking or savings account anymore. They have to offer free accounts just to get people in the door to buy their other services. So, your first step is getting a new free checking or savings account.

Now, here’s why you need that account. Internet scams are everywhere these days. You can find many examples right here at The Scam Alert Blog or just search Google for “Intenet Scam”. Everyone’s biggest fear is that some unknown person is going to come up with a way to separate you from your money. It happens every day, in fact it happens thousands of times everday.

For a wide variety of transactions online you will need to pay for purchases or services somehow. You can pay by credit card, checking account, or with an online bank account like Paypal. What if the worst happens to you? What if someone hacks into your computer, or just as likely they hack into someone’s computer who has your personal information because you purchased something from them? There goes your credit card. There goes your bank account. It’s all just gone.

But, if you take this advice you can at least limit the damage done to you. Get that second checking account, even get it at a different bank if you’d like. Keep a limited amount of funds in there, or better yet only transfer money into this account when you are going to purchase something. Now, your primary account remains active but private. Don’t share any information from that account. Still be protective of your secondary account, you don’t want to lose a penny to one of these worthless crooks, but use this account for your online purchases. Now, if the worst happens, they don’t drain your main account, they most likely get a minimal amount of money and you are saved from financial devastation.

The same advice goes for a credit card, get a second one with a low limit. Use this one for your online purchases, and if the worst happens then it can’t go very far.

Using common sense and the knowledge and awareness that these people are out there trying to victimize you everyday is one way to stay one step ahead of the crooks.