6 Golden Rules for Safe Online Banking: Protect Yourself from Scamsters and Digital Thieves
Banking online has become mandatory and offers plenty of conveniences. With that said, there are certain precautions that you must take to protect your account and prevent online attacks. Here are some of the best ways to stay safe online while accessing your banking accounts.
Today, customers have plenty of options when it comes to banking and shopping online. Apart from the huge convenience and time-saving factors, banking online offers plenty of incentives like reward points, quick access, secure transfers, and more.
While digital banking today is extremely secure, there are plenty of hackers and scamsters who are waiting to steal your personal information and gain illegal access into your banking account. Here, in this post, you can find the basics of how to protect yourself from online scammers and fraudsters.
Tips for Safe Banking Online
- Beware of Phishing Emails and Vishing Phone Calls
Phishing emails trick you into providing your log in details, while vishing phone calls ask you to type in your login details while on call.
If you receive any email or postal letter from the bank saying that something is wrong with your account and you have to provide login details to proceed, make sure to verify the authenticity of such letters. Get in touch with your bank’s customer care or visit the nearest branch to verify whether the bank sent the letter/email.
Always remember that your bank and its representatives will never ask you to reveal your personal details.
- Use a Secure Internet Connection to Log into your Bank Account
While it may be tempting to use free public Wifi to access your bank account, refrain from doing so. In a public network, there may be eavesdroppers, who can steal your information. Use only your secured home network or your mobile data plan.
- Check for the “https” at the Beginning
When accessing your banking account via a browser, check if the URL begins with “https” and has the padlock symbol. Never click on links that redirect you to your bank account. To be safe, always type the bank’s address on the browser’s search bar or use bookmarks that you have saved. You can also use the bank’s mobile app to log into your let’s say Savings account safely.
- Strengthen your Security Mechanisms
Make sure to choose strong passwords for your bank account. Never write it down or save it on your phone. Avoid using easily guessable passwords like birthdays, children or spouse’s name, etc. Try to update your password periodically and avoid using the same password for all accounts. Have a separate password for your banking account, and never use it elsewhere.
Update your laptop, desktop, and mobile regularly, and protect your systems with the latest anti-virus software. Avoid using public computers to access your bank account and beware of “shoulder surfers,” while checking your bank account in a public space.
- Monitor and Track your Bank Statements
Make sure to track your bank account statements at least once a week, or if possible, every day. If you notice any unusual transactions, make sure to contact your bank immediately. The sooner you report suspicious activity to your bank, the easier it is to recover your money and prevent further theft.
- Activate Two-Factor or Multi-Factor Authentication
Two-factor Authentication renders enhanced security. With this authentication, accessing your bank account is a two-step process. You have to provide two factors – one: something only you know (like your login id and passcode) and two: something that you have (like a one-time access code received on your mobile, the grid digits on your debit/credit card.
Stay armed with these tips, and you can enjoy the convenience of banking online, without having to be scared of losing your hard-earned pounds to scamsters and digital thieves.
