Managing money is now much easier than it used to be thanks to online banking. To find out our balance, we don’t have to go to the bank or wait for the next paper statement. We have access to all that information. However, just as online banking has made our lives easier, it has also made life easier for hackers.
It is no longer necessary for criminals to plan a heist to rob a person’s bank account. They only need to send a virus that will collect the information or wait for you to let your guard down and reveal your personal information. Consider these safety-enhancing suggestions for online banking:
1. Never use unprotected public Wi-Fi
When you use public Wi-Fi, hackers have a better chance of getting into your computer and stealing personal information. Unless you are on a secure Wi-Fi network with a password or using your own cell phone data connection, you should never use a computer, tablet, or mobile phone to access your bank’s website. Since it is much more difficult for thieves to hack this, it safeguards your data.
2. Use passphrases instead of passwords
Passphrases are different from passwords; they have a lot more space between words and are much longer. A variety of upper- and lowercase letters, numbers, and symbols are used in strong passwords. Nowadays, a lot of banks want you to use a password that meets these requirements for your online accounts. Additionally, you should change your password every few months and use different passwords for all your online accounts to make it harder for hackers to access your data.
3. Avoid saving your login information
You can save your login information for later use on some websites; however, if someone else uses your computer or mobile device after you, they could gain access to your bank accounts. Many banking websites now time out after a predetermined number of minutes of inactivity and do not save your information to at least assist in preventing this from occurring.
4. Always enter your bank’s website directly into your browser
Phishing emails that appear to be from your bank are sent by some hackers. They are sincerely hoping that you will enter your login information on their fictitious website for the bank. Even if the links in emails appear to be from your bank, you should never click on them. Instead, you can use a search engine or manually enter the bank’s website address into the URL bar. You can save the right page as a bookmark for later use.
5. Use of two-factor authentication
Two-factor authentication is the next level of security that many banks now provide. Typically, when you log in online, your bank texts you a code with your phone number. You may also be able to request a code by phone or email with some banks. To log in, you will need to enter this code in addition to your password. So, even if someone gets your password, they won’t be able to access your accounts. It’s another hurdle to jump through, but if your bank offers it, set it up. It could help protect your money.
6. Keep an eye on your account on a regular basis
Taking this step should hopefully keep other people from using your money. Checking your account balances and transaction history on a regular basis to ensure that your money isn’t going anywhere it shouldn’t be the only way to be certain. Change your password to your account and get in touch with your bank right away if you notice anything suspicious.
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