Six Tips for Safe Online Banking
Banking online makes managing finances a breeze and is one of the safest banking methods. However, there are always online threats lurking out there that can pose risks to your accounts and identity. You can shore up your defenses by incorporating safe and simple online security practices. Breda Savings Bank recommends the following tips to help you reduce risks and bank safely online.
- Update Your Password Regularly
- Regularly updating your password might seem like a hassle to deal with, but it’s one of your best defenses. A recommended timeframe for changing your password is every three months or 90 days. When making a new password, use a combination of uppercase and lowercase letters, numbers, and symbols. The longer the password, the more difficult it is to crack. Never use variations of previous passwords or ones related to you, such as people’s names, street names, or other identifying information. Keeping your identifying info close to your chest plays into our next practice.
- Never Share Personal Information
- From phony phone calls to elaborate emails, there are numerous scams out there that attempt to collect your personal information. Do not share your personal details with those that call or email you asking for sensitive or identifying information. Even if it sounds or looks like it’s coming from a legitimate source. When a situation like this happens to you regarding banking, don’t engage with those asking for the info. Instead, contact the bank directly using the bank’s actual phone number and follow up on anything relating to your account that might need your attention.
- Don’t Save/Autofill Login Information
- Whenever you access a computer or smartphone that isn’t your personal device, be sure never to accept any prompt to save login information for later use. Some web browsers, such as Chrome or Edge, could ask you this as a convenience. However, on public or non-personal devices, using this function for your bank online bank account could leave you vulnerable.
- Try Not To Use Public Wi-Fi
- Avoid logging into your bank account if your device is connected to a public Wi-Fi network. Public networks pose a risk as you don’t know who has access to the network. Those looking to steal information could find ways to access your sensitive information over public networks. Instead, use your cellular data, trusted personal/home Wi-Fi, or a VPN (a virtual private network) to access the internet when doing any online banking.
- Regularly Review Bank Statements
- Closely review your finances regularly (at least once a month). Even though banks are experienced in identifying instances of fraud, an unauthorized transaction slipping by can happen. The best chance at spotting suspicious activity is by actively monitoring your account activity.
- Protect Your Devices
- Whether it’s your personal computer or smartphone, ensure it's well protected if you use the device for your online banking. Protect devices from physical intrusion by using strong passwords or pin logins. Update your computer and phones when new updates are available to help protect your online activity. Never let others you don’t trust access your devices that contain access to online banking functions.
For more information about convenient and highly secure online banking, visit BreadSavingsBank.com/Internet-Banking.