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.