Online Banking: 7 Safety Tips You Should Know

Gone are the days when you needed to physically visit a bank to transfer funds or wait for the next paper statement to check the balance. Online banking has made managing money a lot more convenient for us. That said, it’s also made things easier for thieves.

Make sure to always practice these online banking safety tips to avoid becoming a thief’s next victim:

Don’t Try to Access Bank Accounts on Public, Unsecured Wi-Fi

When you’re connected to public Wi-Fi, your personal information is more vulnerable. Only access your bank’s website through a personal computer or mobile phone that’s connected to a secure Wi-Fi network.

Avoid Saving Your Login Information

Most banking sites do not save your username and password and time out after a certain period of inactivity. That said, do NOT click ‘Accept’ on any prompt that offers to save your login information for future use.

If someone uses the device after you, they could gain access to your bank accounts.

Do Not Use Weak, Easy-To-Guess Passwords

Cybercriminal will have a tougher time gaining access to your information if:

– You always create strong passwords using upper and lowercase letters, numbers, and symbols

– You change your password as often a possible

– You use a different password for each account

Set up Two-Factor Authentication Whenever Possible if Your Bank Offers It

Two-factor authentication offers an added level of security. You have to enter a code as well as your password to log in. It’s another hoop to jump through, so even if someone has your password, they won’t be able to access your accounts. You can request a code via text, email, or phone call.

Keep Your Computers and Smartphones Updated

Outdated devices may not be able to protect your personal and financial data against the latest viruses and malware. Install antivirus software and perform recommended system updates as soon as they become available.

Type Your Bank’s Web Address Into Your Browser Yourself

Stay aware of “phishing” emails that ask you to click on a link that appears to be your bank’s website. Hackers hope you will not look closely enough to tell the difference. This way, they get you to enter your login information on their fake bank website.

When visiting the website for the first time, type the bank’s web address into the URL bar yourself or use a search engine to find the correct web page. Then, bookmark the right page for future use.

Monitor Your Account Regularly

Check your account balances and transaction history regularly. If you notice the money going anywhere it isn’t supposed to, or any other suspicious activity, change your password and alert your bank immediately.

Making a habit of the practices above should, hopefully, keep thieves out of your bank account.