Online Banking Basics
Lesson 1 of 10 in Digital Life in Canada · 25 minutes
Learn to read and understand a basic online banking screen. Understand key terms like balance, transaction, deposit, withdrawal, and transfer.
What you'll learn
- Read and understand a basic online banking screen
- Learn key banking vocabulary: balance, transaction, deposit, withdrawal, transfer
- Know how to check your account safely online
From the lesson
Online Banking Basics
In Canada, most people use online banking to manage their money. Online banking means using a website or app to check your bank account, pay bills, and send money — all from your phone or computer. You do not need to go to the bank for most things.
Setting Up Online Banking
To start using online banking: 1. Go to your bank's website or download the app (TD, RBC, Scotiabank, BMO, CIBC, etc.). 2. Click 'Sign Up' or 'Register.' 3. Enter your debit card number and personal information. 4. Create a username and a strong password. 5. Set up security questions.
Your bank may also ask you to set up two-factor authentication. This means the bank sends a code to your phone every…