Your Guide To Secure Online Banking

Do you enjoy the convenience of banking on the go? Keep your information safe by following these tips for secure online banking.

There’s no denying that managing your finances is easier than ever thanks to digital banking. You can easily pay bills, make deposits, and track your spending, all online. And while most financial institutions implement multiple security measures, it’s still a good idea to implement a few of your own when online banking.

Safety Tips For Secure Online Banking

Regularly Update Your Technology

While online banking has many benefits, like opening a checking account online, it also has some risks, so it’s important to stay vigilant about online banking security.

Take the time to update your computer’s operating system, internet browser, your banking app, and the software on your mobile devices. You’ll not only benefit from new and improved features, but most importantly the latest security patches if any. These will repair software vulnerabilities discovered to keep hackers out.

For added protection, install an antivirus software – a program designed to detect and remove viruses and other kinds of malicious software.

Choose Strong & Unique Passwords

The more complex your password is, the more protected your information will be from cyber threats and hackers. Protect your devices from unauthorized access by following these best practices and avoiding common mistakes:

Best Practices

• Use two-factor authentication when available. This added layer of protection means that even if a cybercriminal steals your password, they won’t be able to get in without a second form of identification.
• Include numbers, symbols, and upper and lowercase letters.
• Make sure your password is a minimum of eight characters long, ideally 12 to 16 characters.
• Get creative with phrases or sayings – for example, Better late than never could be abbreviated to [3etter!L8*T#NVr.
• Consider using a reputable password manager, which can help you keep all of your passwords in a secure place, and can help you generate strong passwords.

Common Mistakes

• Using personal information – such as your birthday, names of pets, or favorite anything.
• Reusing the same password – or only slightly modifying – across multiple accounts.
• Choosing a common or sequential password.
• Leaving accounts logged in and devices unlocked.
• Not updating passwords regularly – aim to update all of your passwords at least once a year.

Set Up Alerts

For an added layer of protection, take advantage of any security alerts offered by your financial institution – like eAlerts. Many organizations will allow you to set specific alerts for:

• Large withdrawals
• Purchases over a certain amount
• Online purchases or those made at a gas station
• International transactions

You can also set up an alert text message if your checking account drops below $50, which can save you from overdraft fees. These not only make it easier to track your spending, but most importantly help to identify potential fraud.

Don’t Bank On Public Wi-Fi Networks

Avoid using unsecure public networks when utilizing online banking. You’ll be an easy target for fraudsters, allowing them to access whatever you’re transmitting or viewing on your bank account. Avoid banking while you’re at the airport, coffee shop, or public transportation. If you have to use public wi-fi to bank on a mobile device or personal computer, consider using a VPN.

It’s best to only access online banking on your home network or over cellular data.

Look Out For Suspicious Emails & Texts

Always question emails or texts asking for personal information, such as your birthday, Social Security number (SSN), or Personal Identification Numbers (PINs). A quick glance at the email address for misspellings or to see if it’s from a private vs. public domain can help you assess its validity.

Also, it’s never a good idea to click on links within an email or text, even if they look like they’re coming from a legitimate source – this includes those embedded messages from social networking sites.

If you have any doubts whatsoever, look up the business sending the email or text to get their phone number to call and ask them to verify the content.

Log Out After Transactions

Don’t stay logged into your banking profile. While many online banking platforms have practices in place to log you out after a certain amount of time, it’s best to log out of your profile once you are finished. This can protect you from many potential risks, like unauthorized transactions.

As unfair as it is, identity theft can damage your credit score. That’s just one reason why it’s important to take security measures seriously when using online banking. You’re also protecting yourself against fraud, financial loss and the loss of personal information.

Summary

It’s better to be safe than sorry when it comes to securing sensitive information. Try to create strong passwords, use private Wi-Fi networks, and never give out personal information. If you suspect fraudulent activity on your account, immediately contact your financial institution and change your password. Take these steps so that you can fully realize the benefits of online banking.

Trust Mobile Banking From A+ Federal Credit Union

With A+FCU’s customizable eAlerts, you can keep track of all your account activities, quickly identifying suspicious actions and potential fraud. Let A+FCU help you automate your savings by using our mobile banking app and tools. We have many tools to help you manage your money and make smarter financial decisions. The A+ Mobile App can help you manage your finances at your convenience. Our other mobile banking features allow you to mobile deposit checks or use the mobile wallet for fast and secure purchases.