Online banking is something that has truly revolutionized the way people bank. With online banking, you can perform routine banking activities, for which you would have previously had to go to a bank branch, from the comfort of your home or when you’re on the go. But, although it offers convenience and flexibility, there is a risk of online theft of your login credentials, virus attacks, fraudulent transactions, hacking, and unauthorized access, to name a few. Of course, most banks and financial institutions offer the highest levels of security to their customers. Even so, it’s a good idea to take a few precautions to keep your account safe.
- Change your password frequently: Ideally, it’s a good practice to change your online banking password at least every few weeks. When choosing a password for your account, ensure that you don’t use one that can be easily guessed or hacked into. For instance, your first name followed by the digits 12345 is not a good password. Your password should be complex and consist of upper case and lower case alphabets. You should also add a special character and a few digits to make it even harder to guess for hackers.
- Only access your account on a secure connection: Don’t log in to your online banking account when you are on a public WiFi connection. Only access your online account when you are in a secure location.
- Don’t assume all emails you receive are from your bank: Cybercriminals can sometimes send you emails that can appear like they are from your bank. Clicking on the link in the email will take you to a login page that looks very similar to your bank’s login page. When you enter your details into the page, they will be captured and your real account’s security will be compromised. So, ensure you don’t click on any emails that you think your bank is sending you.
- Check your account transactions: It’s also a good practice to check your transactions at least once every month. If you notice any errors or fraudulent transactions, make sure to immediately bring it to the attention of your bank, so your cards can be blocked.
While there’s no question that online banking offers many benefits, you should, ideally, keep these tips in mind to ensure your safety.
