How To Safeguard Your Online Banking Information

There is simply no denying that today’s era could be described as an online retail one. Just look at the number of consumers that are shopping online these days. In addition to this, you can literally buy everything that you need online. Do you want groceries delivered to your door?

Sure, no problem! You want to order your favorite takeout and track it right to your front doorsteps? You can do that do! Not only are consumers shopping online more, but they use the Internet to research their products before shopping.

How many reviews did you read on that hedge trimmer that you purchased last weekend?

Probably tons.

Even though people are taking this extra step to review products before investing they are still playing fast and loose with their online banking information.

Log In With Secure Networks Only

It can be convenient and easy to check your banking information while you are waiting around in line for coffee. After all, that is the whole purpose of free Wi-Fi right?

It’s there for you to take advantage of it. Well, there is nothing wrong with public Wi-Fi, but it isn’t as secure as one would hope.

Hackers can easily steal your information from these portals because they are not generally encrypted too high.

These networks are always open and anyone can access them as long as they have an appropriate device.

To better safeguard yourself, you want to make you that you restrain from checking your banking information through a public Wi-Fi spot that isn’t secure.

Use Bank sites That Keep Your Information Safe

When you are ready to embrace the era of mobile banking or if you have already taken advantage, you will want to make sure that you use caution when choosing a provider.

Just because you have bee signed up with the same bank since your teenage years it doesn’t mean that you should take advantage of their online services.

Not every bank out there does the best at protecting their customer’s information. You can usually tell this by the type of encryption that the banking provider is using.

Only bank with providers that offer an https:// in their address bar. It means that the site is encrypted and your private information should be safe online.

If the bank site you’re applying for is just http, come out before you put any details and look for other banks. Most reputed banks have their sites https enabled.

Always enable two factors/Step authentication

As a first step, you use regular login credentials, which all banks do anyway. these banks do offer a second step authentication. Also called, two-factor authentication.

Check to see your bank provide this important feature. I have come across two methods

• Authentication via One Time Password (OTP), delivered to your phone or email. This ensures it’s you and not somebody else who happened to get your login details.
• Authentication via security questions, where you answer questions like mother’s maiden name or your favorite movie, etc.

Also, on mobile devices enable touch ID validation, in case you lose your phone this will save your money.

Get Rid Of Automatic Login

The automatic login is truly great. They provide convenience. It is probably a feature that you utilize on a daily basis.

After all, it is hard to keep up with all the different passwords that you have, and keeping them written down isn’t a good idea.

Well, the next best thing is to just save your password, right?

Well, when you are automatically storing your online banking username and password it means that anyone can log right into your account if you lose your device.

Make sure that you disable this feature. Do not store your password or allow the browser to store it for you. It can store other passwords but definitely not your checking account password.

Beware Of Banking Scams

You have to know that sometimes hackers will just ask for your information and you might willingly give it to them without even knowing it.

No one from your online bank will ever call, e-mail, or text and ask for your personal information.

If you get a text or e-mail asking for your banking info, you can rest assured that it is probably one of the many scams going around today.

Lastly, do not provide your banking information like routing number and account number to anyone, unless absolutely needed for other financial services, like credit card payment.