Here are some ways to ensure safe online banking.
Ensuring you have a strong password is key to keeping your accounts safe. Some common mistakes when creating a password are using personal information, a password shorter than 12 characters, using simple common sequences, using the same password for multiple logins, and not updating your password regularly. Here are some tips on creating a stronger password.
- Choose a phrase rather than a single word
- Use uppercase letters, lowercase letters, numbers, and special characters.
- Avoid common sequences like ‘1234’
- Avoid using personal information such as your name, birthday, etc.
The next step to ensure safe online banking is to enable two factor authentication. Two factor authentication is a security system that requires two different forms of identification when trying to access an account. It’s a simple way to add extra security for your personal accounts.
Another way to ensure safe online banking that some may not think about is to refrain from using public Wi-Fi. By using public Wi-Fi, you’re posed to significant security risks. Some of those risks being data transmissions over unencrypted networks, malicious hotspots, man in the middle attacks, and malware/spyware. We recommend to never access mobile/online banking while logged on to public Wi-Fi! If you need to log into public Wi-Fi for any reason, disable public file sharing, consider using a VPN, and stick to secure websites. Secure sites have “https” in the URL and it will also show a lock symbol to the left of the URL.
Additionally, regularly monitoring your accounts is helpful when keeping up with fraudulent activity. It is recommended you view your accounts every few days to watch for fraudulent transactions.