Tips for Savvy and Safe Online Banking

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Handling and transferring money used to be quite a process, and that lasted for a long time. It’s only recently that we’ve started using online banking that has made everything much simpler. Today, we can make payments, transfer money, and even change its currency all without the need to ever leave our homes.

No more going to banks, filling out lots of different forms, standing in line for ages just so that you can make one payment and be done in a minute or two. All of that can be avoided by simply using an app on our phones or computers.

Despite all of that, there are still major issues that could occur when it comes to online banking, and it never hurts to be prepared and to know what to expect. In order to help you prepare yourself, we’ve gathered up some tips that everyone should be aware of when it comes to online banking, so let’s check them out now:

Tips for safe and secure online banking:

Set strong passwords

This should be your priority when it comes to any account. A strong password is your first and biggest line of defense, so you should never risk it by setting a weak one. Weak passwords that include words or numbers like dates and similar things that are important to you are easier to remember, but they’re also easier to guess. Common words or phrases are also often used as passwords, and they’re simple to crack for those who know how to do it.

Use different passwords for different accounts

Many people have more than one single account, and many even have different accounts in different banks. There’s nothing wrong with that, but it still means that you’ll need to be extra careful and pay attention to each one of them, as well as their security. Different passwords must be used, otherwise guessing one of them will allow a potential intruder to access all of your accounts, and endanger all of your funds.

Regularly change your password

Changing password frequently might seem like a bother to you, but it’s a very good idea, and you should try to do it on regular basis. If you don’t do it, someone might get access to your account once and simply continue using it to discreetly steal from you. Changing your credentials can prevent that, and even if someone does crack your password, they’ll soon be locked out of the account once again. Just pay attention to your passwords, and don’t forget which one you’re currently using.

Never click on suspicious email links

Hackers are often known to try and trick their victims into opening links sent to you by suspicious emails. They would often try to impersonate someone whom you might trust, and this might even include your bank. They would send you a link that leads to the page that looks like your bank account’s login page, but it’s actually a fake. If you fall for it and type in your credentials, they’ll obtain them and would be able to steal your money.

Don’t send your bank account credentials in an email response

Much like in the previous tip, sometimes hackers might send a fake email in which they are impersonating your bank. They might ask for your credentials or similar details, something that might be used for ‘verifying yourself’. Real banks would never request such sensitive information via email, and you should never send such things to a request like that.

Don’t install unknown software

This is an advice that you should remember at all times. If you’re not sure what something is, and you don’t know exactly what it does, it’s probably safer for you not to install it. Doing so might only lead to problems. When it comes to banking, it’s much better to be a bit paranoid than to be robbed.

Don’t forget to log out

Always log out after you’re finished with your account. It’s a good habit, and it decreases your chances of having your money stolen. People get robbed on a daily basis because they don’t have a habit of logging out, and then they check their account on an unsecured computer, or even on an unsecured network. It’s an overlook, and it might seem unnecessary to even mention but you’d be surprised how often this happens.

Get a habit of checking Last Logged Status

As a part of the security increase, many banks provide you with the last login status. This includes time and date of the last time or several last times someone accessed your account. Some services even offer the data about the device and location from which someone logged into the account. If any of it seems suspicious to you, change your password right away, and also inform your bank about the issue.

Avoid using Auto-filling services

We’re aware that Auto-filling has made your life easier since nobody enjoys constantly having to fill out forms. Still, it’s a bad idea to use this service when it comes to your banking account, because if you do it, everyone who gets access to your browser, or even your system, can easily access your account as well.

Don’t log into your account on public system

Using public systems is not recommended even when it comes to logging into your favorite online game, and much less when it comes to something like a bank account. They are never safe, and you never know who might be watching, or what the computer might have when it comes to hidden software or intentionally placed spyware. Always use systems that you’re familiar and comfortable with.

Update your systems on regular basis

Skipping updates is a bad idea, and that’s something that you should always have in mind. Updates don’t come without reason, and every time they bring a new set of patches and solutions to the problems that you may not even know that you have. Don’t ignore them, and they might just be what saves you from an online attack.

Use firewall and an antivirus software

These should always be used too since their main purpose is to protect you from online threats. If they block some website and won’t let you access it, it’s for your own good, and you should trust them. Accessing such websites despite the warnings might end in you catching a malware, or worse, a spyware or ransomware.

Use a VPN

VPNs are probably the way to ensure your safety that you’ll ever be able to find. Using them can encrypt your content, and even change your IP location. This means that your privacy and anonymity will be obsolete, and nobody would be able to access your system or your data flow. That means no malware, no hackers, and even no ISP supervision. There are tons of different VPNs that you can find and use to achieve this, but we recommend TorGuard, PIA, GhostVPN, or IPVanish as the best ones.

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Conclusion

All of these tips are a part of a very important way of behavior when it comes to your online banking account. Following them will make you safer since the most important part of protecting anything is not letting the crucial information fall into the wrong hands. Nothing in this world is protected like money, and that’s why the biggest risk lies with the account owner.

Knowing about the risks, as well as how to decrease them, might make all the difference. Otherwise, you might get robbed like the Bangladesh Bank, that lost $80 million due to the hacking attack. So use the VPNs and other means of protection, and don’t allow yourself to make that one mistake that might cost you everything you’ve worked for.

Passion for Cyber Security and Technology.

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