Online banking has brought convenience and efficiency to people's lives. Banking-related things that took hours in the past, such as starting fixed deposits or applying for loans, now take only a few seconds and clicks with online banking. Despite its numerous benefits, online banking exposes account holders to scams. If account holders are careless with their online accounts, they can fall prey to nasty banking scams. Here are a few to be wary of: Fake check or overpayment scam In this kind of scam, individuals will receive a check from the buyer of their goods. The check's value will invariably be higher than the price of the goods. The buyer will request the seller refund the excess amount specified in the check. Once the seller does so and goes to their bank to cash the check, they will realize it is fake. In this way, not only do sellers lose their goods for free, but they also end up paying the fraudster some money. A slight variation of this is the fake check scam, in which people receive money through checks from strangers. While handing the check, the stranger requests the person receiving it to forward money from the latter’s account to a third party person. The recipient does so in goodwill, only to find out later that the check is fake. To avoid this scam, people need to stop accepting checks from strangers. Also, people must stop accepting checks containing higher amounts than how much their debtors owe them. Phishing scam This type of scam involves people receiving emails or text messages with malicious links from untrustworthy sources. Such scams often promise money, property, and other extravagant things in exchange for nothing. Often, such links will show that they have been sent from “official” banks and financial institutions. When users click such links, their personal information and card details will be asked and taken. In most instances, phishing scams are bait for unsuspecting users to download viruses into their systems. In banking cases, phishing is mostly used to dupe people and steal their personal data and financial information, like card details. Naturally, one of the ways to avoid this kind of scam is to never click on links from potentially shady sources. Automatic debit scam An automatic debit fraud is pretty straightforward. Malicious elements access a person’s debit card details and use them to make unauthorized transactions. In most cases, scammers contact their victims through email, phone, or text to get their hands on this information. Afterward, they will set up automated payments from users' accounts into their own. An intelligent way to avoid this scam is by never giving one’s bank account routing number to anybody, especially to someone who claims to be a bank official but still asks for this information. Some of the other banking frauds are cracked password scams and unsolicited check scams.