Top 5 Online and Mobile Banking Security Tips

Internet and mobile technologies have made life a lot more convenient. We can now make phone calls from anywhere, get information without having to go to a library or purchase encyclopedias, and even manage our finances on the go. But of course, like any new technology, safety features and common sense have yet to catch up with advances. And if you don’t practice proper security, you’re the one who is bound to suffer. If you want to avoid identity theft, or theft in general, there are steps you can take to hedge your bets when it comes to using online and mobile banking options. Here are some security tips you’ll want to take to heart.

  1. Use secure networks. If you use a home WiFi network, make sure it’s password protected. And never use public networks when it comes to online banking. These unsecured networks can open you up to attack by cyber criminals who can easily gain access to your device and use it to obtain private information. Do not log in to online banking at your work. And if you’re not sure whether a network is secure, don’t use it for online or mobile banking.
  2. NEVER give out your password. This is 100% on you. If you give out your password to anyone, there’s a chance it could lead to problems with your bank account. Even if you trust your spouse, your kids, or other loved ones, you should never allow access to your online or mobile banking accounts. Why dangle the carrot? Even if your loved ones are trustworthy, it doesn’t meant they’ll take the same precautions to protect your sensitive data, which means other people could gain access, people who are less concerned about stealing from you.
  3. Change your password regularly and don’t save logins. Since your passwords can be compromised, it’s a good idea to change them regularly. And make sure that you don’t use personal data in your passwords, including names, birth dates, or other important numbers. Use alphanumeric sequences that are random and at least eight characters in length. In addition, don’t save logins or other data related to your banking accounts (like account numbers) on your computer or mobile devices.
  4. Lock your computers and mobile devices. Any time you engage in online or mobile banking, you should make sure that your devices are set to lock when you turn them off or they’re inactive for a short time. If your devices are accessed or stolen, this additional password protection could help to stop someone from gaining access to your bank accounts.
  5. Avoid scams. You may receive emails claiming to be from your bank, but if you speak to banking security personnel, they’ll tell you that this is not the way banks contact their users with security concerns. Any time you receive an email asking for sensitive personal data, do not respond - it is likely a scam. Instead, call your bank directly to confirm or deny.

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