Digital, Online and Finance? Does it fit together well?

Account management: Online Banking

Many can not do without, but there are still doubters today who do not do online banking because they are too high on the security risk. When asked what kind of risk it is that scares them, there is usually only a diffuse response that vaguely points towards cybercrime. Most of us will appreciate online banking because it makes life simple and practical. Online Banking offers:

  • The always-on access to the account, to quickly check if the Ebay buyer has already paid or the Stadtwerke have already debited
  • Practical search functions, by name or amount, which in most banks also go back several years
  • Helpful additional functions, such as budget book function or the income statements of the past years in the online mailbox, if you should actually get up on the weekend, to make the tax return, and so on.

Also the templates for online transfers are a real help, especially after the introduction of the long IBAN numbers in 2016!



Of course, we do not want to take any risks despite the many practical advantages! We must therefore reason with the secret keys that banks have developed specifically for their clients. The following points should be noted here:

Do not share yours with anyone pin code with, not even your best friend or your child! With the PIN, anyone at the ATM can withdraw money from your account. This is like an open wallet with as much money as the Dispo frame gives!

If it's convenient for another person to access your account, you'd rather agree to a bankruptcy power. Then withdrawals and account movements that are made without your intervention, at least understandable.



A TAN list should not be lying around at home, nor should it be noted on a slip of paper in a purse.

Talk to your bank about the different TAN procedures. Then you can decide which one seems the most practicable and safest. Many find the Mobile-TAN, which is sent to your mobile phone, pleasant.

It is not overly anxious if you only make online transfers from home. The fewest payments are so urgent that they have to be paid every second.

By the way: no bank in the world calls you and asks for the complete PIN and a TAN? also not by mail. If such calls or mails come, just ignore! Who is insecure, or who actually believes that otherwise his account will be blocked immediately, the best way immediately call the bank's telephone service and ask what it has on it! There you will clarify the facts. But do not go to a link or dial a phone number, because that could be a trap! Only when you call your bank's service number from your phone, you can be sure that your bank is really at the other end! Likewise: Do not click on a link, but go through your usual online access to your online banking.



For those who find online banking too prone to fraud: many scams take place by someone filling out a paper remittance form, signing it, and dropping it into the bank's designated mailbox. The banks check the authenticity of the signature only from very large sums; otherwise the form will be processed by machine. If the transfer then only from your account to a foreign account? maybe still abroad? It is very tedious to expose the fraud to get the money back.

Securities Trading: Online Brokerage

When investing in securities, many of us draw one consultant or a flesh-and-blood advisor a stinky one Online Depot in front. However, no one in the world can expect that he or she will work for free and provide his or her knowledge, so personal counseling, of course, costs money. Even if you do not open your wallet right away and have to hand over a bill for the advice, the advice is "calculated" in one way or another. at fund You may only get a lower discount on the sales charge, with individual securities the transaction costs are higher than usual, or you pay a custody fee, which is largely waived for online depot owners.

For those who are knowledgeable and able to make their investments without consulting, is Online brokerage super handy.

  • You can also enter your order at the weekend or in the evening.
  • You have a good overview of your orders, and whether they have already been executed or not.
  • You always receive clear reports on your depot at any time of the day.

Since women in online brokerage do almost everything alone, can the costs for transactions, securities account management, etc. be lower than in the business with personal advice? logical, right? Well-known online brokers are comdirect, consorsbank, ING, flatex, onvista bank, and many more.

Asset Management: Robo-Advice

The term Robo-Advice did not exist a few years ago, but a lot is written about it today.

What is that? A computerized financial advice, usually the same with a connected asset management! You log in, and Robo asks about your income, the amount invested, your experience with securities, how open you are about investing risks, and so on. Based on your information, the Robo-Advisor algorithm will suggest a portfolio tailored to you. The components of the proposed portfolio are usually ETFs (Exchange Traded Funds) because they are more cost effective than actively managed funds; Robo-Advisor claims to be particularly cost-effective.

Nevertheless, the providers of such? Robos? Of course, earn something. The cost to pay for a Robo-Advisor is between 0.35% and 0.95% per annum, which is relatively inexpensive compared to PAYG. There, the annual costs start at around 1.2%, but can also be significantly higher.

The decision, whether computer-aided or personal asset management, must be won by every investor. In times when the stock markets are doing well, the differences are not so obvious. But if it crashes on the stock exchanges, the media almost only report on bad stock market news and the value of almost all depots invites the reverse, then some investors just prefer to go back to a personal consultation. So think in advance:

How does it feel to you if, in the event of a stock market crash, you can not call a fledged advisor?

  • Do you need the personal motivation of a counseling session?
  • Do you need empathy, the empathy of a human adviser, and now and then a certain "push" to put money aside for later?

Some doubt that a robot can be as good as a human being. But actually, there is no reason why the quality of a flesh-and-blood advisor should be better than that of a robo-advisor. The Robo asks schematically and unerringly everything from what a good advisor should also ask, in order to be able to advise you sensibly and individually. The robo does not forget any important aspect, because the algorithm was thoroughly tested during the creation process.

The Robo then creates not according to gut feeling, but according to current financial theory, the portfolio that he suggests you. At the touch of a button, the depot can then be converted 1: 1. The Robo Investment Proposal uses both modern portfolio theory and risk-optimization mechanisms. So it's extremely professional. Robo always has time? whether at night or on weekends? as long as we have access to a PC and to the Internet, we can reach the Robo-Advisor. Examples of known Robo-Advisor are Scalable, Qurion, Whitebox, vaamo, Liqid, Ginmon and many more.

Alternative means of payment: crypto coins

These are currencies that strictly speaking are not real currencies because they are not issued by any central bank and are not legal tender. The best-known crypto coins are Bitcoin, Ethereum, Ripple, EOS and Litecoin, but there are now several hundred of them.

Crypto-Coins are generated by an algorithm that requires a lot of computing power. That's why Bitcoins & Co are anything but eco-friendly, because the large server farms that provide the computing power need to be cooled, and that consumes a lot of energy. Crypto coins are in so-called? Wallets? kept, a kind of electronic wallet.

Krypto Coins is an exciting investment of the future, which unfortunately is quite risky. For example, the best-known cyber currency, the Bitcoin, reached its peak in mid-December 2017, at a price of 13,750 euros per Bitcoin, until mid-March 2019 with many ups and downs to around 3,490 euros per Bitcoin. Who pulls a kick from such movements: Why not with some play money? However, if you think stocks are a rather risky thing, you should not go for crypto coins. Heart attack risk!

This article was created in cooperation with hermoney: the independent information portal for women with expert tips on their financial fitness.

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