When it comes to convenience, online banking is perfect for many consumers. It often features lower fees, because the bank has a lower cost. But there are some things you should watch out for when deciding to open an online bank account.

Make sure that the bank is FDIC insured. You should only do business with banks that are insured by the FDIC for savings accounts, checking accounts and CD deposits in amounts up to $100,000.

You will also want to make sure that you are on a real bank's website. Online criminals do make fake bank sites that are only one or two letters off in the address. The hope is that you won't notice and will enter your personal information. They will often link these from emails, so read all website addresses carefully.

When it comes to an online bank, you must treat it with the same respect in which you treat your local bank. Review your statements closely. Make sure everything is accurate. If you find something that is off, call your bank immediately.

Keep your account information, your password and login name in a safe place. Don't ever, ever, ever email this information. Just like your PIN number on your debit/ATM card, keep the information private.

If anyone every contacts you for information, verify with your bank. Don't answer questions over the phone if you didn't call the bank. Don't respond to emails regarding your banking information. No secure account of any sort will ever ask you for your login information in an email. Contact your bank if you receive any requests for information.

Make sure that you have up-to-date anti-virus protection on your computer. Back-up your financial files on a regular basis to disk. You don't want to chance losing all of your financial records.

Make sure that you always log off of any online accounts. Don't simply close the browser. This leaves you vulnerable. In addition to this, don't have other browser pages open while you are doing Internet banking transactions. This is hard for those who love to multitask, but it is best for security.

Banking on the Internet is quite safe. Look for the little lock in the bottom of your browser. Most secure sites will start with "https," instead of simply "http". Most banks will have a section that you can go to that educates you about their site and the steps they take to keep your information secure.

Online banking accounts are great. Your information is easily downloaded into financial software. Keeping track of your account is easy. You can make several transaction types without even leaving your home. If you use common sense and follow the above advice, you will enjoy it as well.

Martin Lukac http://www.MartinLukac.com, represents http://www.RateEmpire.com, an Internet consumer banking marketplace. RateEmpire.com is a destination site of personal finance, investing, taxes and mortgage rates. RateEmpire.com provides mortgage guides and financial rates and information. RateEmpire.com also operates a financial portal #1 American Financial, found at http://www.1AmericanFinancial.com