Internet Banking

Internet Banking: 4 Simple Tips to Keep Your Data Safe

Internet banking has boomed in the past few years to become the new norm. Branches are out, and apps are the ‘in’ thing. Half the time when you visit a bank’s branch, you’re steered towards a computer for a DIY transaction – with optional assistance.  But is internet banking safe? You hear from all over to keep your financial information private. But, they ask you to leap on board the online banking train – talk about contrary directions! The great news is that you CAN bank securely online with just a few simple precautionary measures.

Always type in the Internet banking website address to your browser

Several attackers will attempt to trick you into clicking a fake link to your bank website. Usually sent as a ‘phishing email,’ they’ll allege that there’s an issue and ask you to click-through to your bank and fix it ASAP. The link will point to a bogus website that looks almost the same as your real bank site and is saving your private bank account info. You can prevent scams in this way simply by gaining access to your bank by manually by typing the website or by using your bookmark.

Avoid using public networks and computers

Jumping on a computer at the library or mall might seem like a quick and easy way to check your account. But, scammers often target public computers. In only a few moments, they can install keyloggers to record usernames, passwords, and other private data. Then they will sit back as all future user details get emailed to them. The same problem applies to free of charge, unsecured Wi-Fi. You are better off utilizing an ATM or your data-enabled smart cellphone.

Use a 2- factor authentication with a strong password

Create a unique password for your internet banking, something you’ve not ever used anywhere else. Mix up symbols, numbers, and words to create a complex password that nobody can guess effortlessly. Avoid providing attackers a head start with data they can find on Facebook, like kid’s names, pet names, birthdates, etc. and think outside the box for creating the password. And obviously, never write it down anywhere near your computer, wallet, or phone. If remembering the password is likely to be an issue, you may want to consider a secure password manager application. Several banks will help boost your security with two-factor authentication, sending random codes to your phone (or a particular LCD device they provide) to confirm any activities.

Before entering data, check your Internet banking page’s security

Finally, take a moment to look for a tiny padlock icon before you enter any data. You are looking for a padlock showing as part of the web browser itself, not merely an image on the webpage. It is going to be in the bottom corner or next to the URL. The address will also start with https:// instead of http://. If you don’t see these things, the page is NOT secure, and you shouldn’t log in.

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