26 Mar 5 Tips for Safe E-Banking
Mobile and online banking are an easy, fast, and convenient methods for managing your finances. Although e-banking is relatively safe, your online account could be hacked if you aren’t careful. Criminals can break into your bank account and steal your funds in seconds. But don’t delete your app just yet: these five tips can help keep your e-banking account safe and secure.
1. Memorize a strong password
A strong password is one of the simplest strategies for protecting your account. Try using one that includes capital letter and numbers, but avoid passwords that contain your name, birthday, address, or other information that is discoverable. Don’t save your password on any notes or other applications on your phone or laptop. If either device were stolen, a thief could quickly gain access to your bank account.
2. Install a password manager
One of the disadvantages of using strong, unique passwords for each of your bank accounts is that they are difficult to remember. The fear of forgetting a password and having to go through a lengthy process to recover it convinces many people to use a simple code for their bank account. Unfortunately, this puts their finances at risk. Consider installing a password manager app that securely stores all of your important codes. Both free and paid apps are available to download.
3. Connect using your data plan
It’s tempting to check your bank account while in a coffee shop to decide whether or not you can really afford that $6 frappucino. However, connecting to public Wifi networks can be risky, especially when you’re accessing sensitive information such as your bank account. If you really need to check your account, temporarily disable the Wifi on your mobile device and connect using your cellular data plan. Cellular data is more secure and less easy to hack than a public network.
4. Check your accounts often
Although increased security measures can help prevent crime, sometimes thieves will still find a way into your account. The more often you check your accounts, the sooner you will notice missing funds. You should log into your account several times a week at a minimum, but checking daily will give you the most protection. If you realize that your account was compromised, report it immediately to your bank.
5. Use a VPN
As previously mentioned, criminals can hack into your bank account if you access it over a public or unsecured network. If you don’t have access to a network you control and you need to manage your finances, consider connecting to a virtual private network (VPN) for maximum security. While browsing with VPN, your encrypted online activities can’t be seen. CyberGhost and VPNBook provide free VPN protection, but there are paid options available as well.
At Bank of the Lowcountry, we offer our customers the most secure e-banking experience possible. To learn more about our online and mobile banking, visit our website or give our expert team a call at (843) 549-2265.