Online banking is unavoidable despite its security concerns. We are in the 21 century and online banking is smarter and easier banking. Here are some things you can do to improve your security as you bank online:
1. Use a strong password
Your online banking password should be unique and strong. Commit to memory, that is remember it off hand. Do not store it in your phone or computer. If you like, you can write it on a piece of paper and store it in a safe place.
2. Choose a random PIN for your ATM
It is good practice to choose a random Personal Identification Number (PIN) for your ATM card and/or phone identification. The PIN should not be related to any information that you know such as your name or other passwords. Do not write down your PIN or store it in your computer or phone. Do not tell your PIN to strangers, bank employees and people you don’t trust.
3. Log in to your online banking using trusted devices
Log in to your online banking using your phone or personal computer. Make sure the security features of your phone and computer are up to date. It is best to use your personal internet/ WiFi connecting. Avoid public WiFi networks because they can be unsafe.
4. Activate alerts for your bank account
Sign up for alerts from your bank. You should enable your bank account to be alerted by text message and/or email any time a transaction takes place with respect to your account.
5. Do not allow your browser store your online banking password
When you use your online banking password on a browser, your browser will normally request to store it for you. Reject the offer. This will safeguard against someone else easily logging in to your bank account. It is good practice to always enter the URL of your bank every time you visit the bank on the web.