With the growing dependence on the internet for almost everything, it has become a must for banks to provide online or mobile banking services. Banking online makes it easier for customers to manage their budget, pay their bills, check their bank balance, transfer funds between banks, and receive bank alerts.
Although banks provide a high level of online banking security, using online banking services still comes with its risks, which makes it necessary to take precautions. Here are some ways to protect your bank account while using online banking services:
Access Your Account Using a Secure Wireless Connection
Accessing your account using a public, unsecured WiFi connection is not a good idea. This means you should avoid banking online using the internet provided at airports, coffee shops, bars, and other public spaces. Access your account only when you’re using a password-protected wireless connection at a secure location.
Change Your Password
When you sign up for online banking services, note down your password and keep it in a safe place. Choose an uncommon password to make it difficult to guess. For instance, your surname followed by 1234 doesn’t make for a strong password because it’s easy to figure out. Moreover, to ensure there is no security breach, change your password often.
Monitor Your Account Regularly
Most banks provide facilities like sending text messages and bank alerts to inform you about your account activity. Make full use of these services to monitor your account for security. If you see any suspicious activity or charge, contact your bank immediately.
Don’t Trust Your Email
Phishing through emails has become a common problem. Phishing sites redirect you to their site, after which they collect all your personal information. These sites may resemble the login page of your bank’s online banking page, which is why it’s best to avoid opening emails sent by your financial institution unless you’re sure it’s from the right authority. Even if you believe the email is from your bank, it’s recommended that you instead go to your bank’s online banking page and access your account from there instead of clicking on emails that redirect you to the login page.
Although banking online seems harmless and makes life easier, not being cautious can lead to severe problems. Remember these tips to ensure you and your account remain protected at all times.