Online banking has made it easier for people to stay on top of finances. It is convenient to have an app that allows you to avoid lines and drive times to a local branch. We have access to bill pay, funds transfers, deposits, and so much more at our fingertips. Bank information can be accessed from your phone, laptop, or desktop. It is convenient and welcomed in the world we live in of constant running around.
One must wonder though, is online banking safe? We are told to keep our financial information safe and private, yet online banking creates a new realm of potential vulnerability to private information. Online banking isn’t going away, and the convenience factor is too great to stop using it. So, what exactly do you need to know to make sure your private information stays private?
Here are 5 tips to keep your finances secure and ensure that you are banking safely online.
1. Create a strong password
Having a strong password is imperative to all things on the internet. A strong password is a mix of upper- and lower-case letters, numbers, and special characters. It is also important to keep in mind not to make your password that is anything blatantly obvious like birthdays, names, etc.
2. Avoid public computers or Wi-Fi when banking online
Not everyone has access to a computer, but logging in to your online banking while at the local library is not the safest way to check your banking. Public computers are often a prime target for scammers. The same issue exists with free, unsecured Wi-Fi.
3. Check your bank statement on a regular basis
Checking your bank statement each month is a good habit to get into. Banks are well versed in recognizing fraud, but that doesn’t necessarily mean that they will catch everything. Creating a habit of checking your own statements will help you stay on top of anything that might be off with your account.
4. Type your bank URL instead of using email links
A golden rule of internet usage, don’t click an email link. Even if the email looks legitimate, there is potential for it to be a scam. Hackers are on top of their game and constantly evolving to make sure they can snag their next victim. Take the extra few minutes to retype the URL into your computer before using it or bookmarking it.
These are just a few tips to help ensure your safety when online banking. It is convenient to have this option and can be a valuable tool to use. It is important to make sure that you protect yourself and your financial future and these tips are a great way to get your started on your way!