Five Effective Ways To Keep Your Online Banking Secure

Online Banking Secure

Published on June 25th, 2022

Today, almost all online banks offer improved security to do their part in keeping your bank accounts safe from hackers. But you also have to play your role to ensure your online banking is secure, thus protecting yourself from identity theft. And that includes knowing how hackers get your banking information and doing your best to avoid such hacks.

Therefore, as you continue looking for stocks to buy under $10, remember to always protect your investment’s return with the following tips that will keep your online banking more secure.

Choose An Online Bank With Excellent Security

For your online banking security, using a bank with top-of-the-line security is the first and most significant feature you want. But how will you know that a particular online bank is the most secure? Look at the bank’s web address. It is one quick trick that works wonders.

Check if the bank has letters like “https” instead of just “http” at the beginning of its web address. It might seem small, but that little “s” means that the web address is extra secure. If your preferred online bank passes this first test, you can comfortably continue researching it.

Does the online bank feature the two-step verification to get to your account? If yes, that’s an added advantage.

Online banks and other businesses are increasingly incorporating the two-step verification, or in other words, the two-step authentication, to protect their customers.

It entails typing your account number and password in step one and providing additional information about yourself in step two. It could be your childhood crush’s name, fingerprint, or a pass code sent to your cell phone.

The second set of information is often complex for hackers to steal, giving you extra protection.

Avoid Doing Your Banking On Public Wi-Fi

Did you know that “keylogging” is a real thing? It is the act of hackers recording each of your keystrokes as you type on your smartphone or personal computer.

Hackers have nowadays advanced their techniques of stealing your banking credentials by using a video camera to record everything you type.

The thieves then save and review the footage to get your personal online banking information. And since you can’t control who is around you when in a library, a coffee shop, or any other public space, the recommendation is to avoid using online banking services in public and on public Wi-Fi.

Keylogging and video recording are only two of the many ways thieves can get into your online bank account while you are on public WiFi.

There are many other ways that public Wi-Fi exposes your banking information to hackers. So it’s better to make transactions over a secure network before leaving the house or wait until you get home.

Change Passwords Regularly

Changing your banking password regularly might be a pain. After all, who can keep up with all the diverse secret codes you use on each online account that you own, from social media to email, your school/job website, shopping accounts, etc., the list of online accounts is as endless as the internet itself.

Yes, we understand that it is always tempting to use a particular favorite password on all your online accounts and keep it the same for an extended period. But that’s almost similar to waving a bunch of $100 bills to an online hacker.

The main issue comes once hackers can figure out your favorite password, including their variations. In such a case, they have access to everything that concerns your online banking.

If you don’t change your online banking secret codes from time to time, your accounts will eventually fall victim to hacking, which is a sad phenomenon primarily because the fix is simple. Maintain a list of passwords and sites on a piece of paper that you often leave home in a secure spot and ensure you update it regularly.

Take Care Of Your Debit Card

The earlier you realise that some people are dishonest, the safer you will be in your online banking matters. Even your closest friend can steal from you if you are not careful with your debit card. Remember that some swindlers and con artists are constantly looking for strategies to access some of your money, steal it, and put it in their pockets.

And your debit card is one of the fastest ways they can achieve their goals. So please don’t make it easier for them.
For example, avoid saying your PINs as you type.

Also, avoid keeping them in your wallet because PIN theft is possible. And most importantly, NEVER take pictures of your actual debit card and post them on social media. That’s just a quick way of inviting hackers and other online thieves to break into your online bank account.

Get Identity Theft Protection

Sometimes it doesn’t matter who you bank with. Identity theft protection, or fraud monitoring as some people may call it, is all you need. For a small monthly or annual fee, a monitoring company will notify you if it detects a new credit card being issued in your name, someone else using your social security number, or any other breach in your personal banking information.

The best identity theft protection firms will assist with the recovery if you, unfortunately, become a victim of ID theft. Today’s online banks feature fraud monitoring versions like emailing or texting when a huge transaction hits your bank account.

Bottom Line

Every physical bank has its weaknesses, which also applies to online banks. Whether physical or online, banks are always safe when they do their best to protect their customers’ money and when their customers reciprocate that effort by remaining alert and making intelligent decisions. When that occurs, customers can leverage the benefits that come with online banking, including lower fees and higher interest.