Is my Net banking login really secure?

Every time I log into my net banking account, I am not only asked for my login name and password but I also get to see the small lock Icon appear on the right hand corner of my screen indicating that the transfer is secure. Get the mouse near the Lock Icon and it would probably display the type of encryption too - say 128 bit or 64 bit etc. All these are measures to make the online banking experience safe and secure. But how many net banking experiences really are?

According to Johannes Ullrich, chief research officer at the SANS Institute, American banks like Chase.com and American express ask customers for login particulars over encrypted forms but he points out that there is no authentication technology at the other end to prove that the users are genuine. One method of ensuring a higher degree of security is for the banks to use the HTTPS web pages for logins. On these web pages, use of the Secure Socket Layer (SSL) is a default in addition to encrypting the information on the page.

Capital One Bank, Citigroup Inc., and Wells Fargo & Co, Chase.com and American Express all require use of such encryption without which your data and details are very vulnerable to anyone wanting to hack in. While this is not a foolproof method, this additional step with a 128-bit encryption makes it a whole lot more difficult to hack in then it otherwise is. But the psyche behind this for most banks is that directing their customers from their main banking site to a secure HTTPS web page is likely to put off a lot of them.

Bank of America Corp. does not use SSL sign-in on its front page. Instead the bank allows customers to enter their login ID on the homepage and thereafter directs them to a HTTPS site to enter the password. If you resort to net banking, I suggest you look for the LOCK Icon on the right hand bottom corner before you proceed further next time.