Online banking has changed the way we handle our finances. It allows us to access our accounts from anywhere, at any time, and conduct transactions without having to physically visit the bank. However, this convenience also comes with a risk.
5 Ways To Use Online Banking Safely:
Online banking can put your finances and personal information at risk if you’re not careful. Here are some BDCU money tips to safely conduct online banking:
Choose a strong password: A strong password is the first line of defense against online fraud. Use a unique, complex, and lengthy password that includes letters, numbers, and special characters. Avoid using the same password for multiple accounts and change it every few months.
Always use a secure network: Public Wi-Fi networks can put your personal information at risk. When accessing your online banking account from a public network, use a Virtual Private Network (VPN) to encrypt your data. Alternatively, use your personal mobile network or a trusted Wi-Fi network.
Keep your software and browser up-to-date: Security vulnerabilities in outdated software and browsers can leave your online banking account open to cyberattacks. Regularly update your software and browser to keep your account safe.
Look for the padlock: Stick with sites that are secure. Look for “https” in the site’s URL, which triggers the lock icon in your browser. Your laptop or mobile device may automatically flag sites that are deemed unsafe.
Check your bank statement regularly: make sure to review your statements regularly as banks may not be able to notice every questionable transaction particularly with credit cards.