While it’s gotten more convenient, online banking has also become more prone to security issues. That’s why you need to be careful when banking online and avoid sending usernames, passwords, credit card numbers or other personal information via e-mail. But it takes more than that. These days, you need to take extra security measures when banking online to reduce the risk of hackers and scammers gaining access to your personal information.
1. Use a Strong Password
Using a strong password is one of the best ways to protect yourself while banking online. Avoid using personally identifiable information like your birthdate, your kids’ birthdates, your Social Security number or your address. For best results, think about changing your password every three to six months. If you have trouble remembering passwords, try using a password manager so that you can always access your accounts when you need to.
2. Monitor Your Online Banking Activity
Monitoring your online banking activity is essential if you want to keep your information safe. Get started by purchasing an identity theft protection plan. For instance, with LifeLock, you’ll get innovative monitoring and alerts so you’re always aware of potential threats. You’ll also get your credit scores and annual credit report completely free, identity theft scanning and support via LifeLock’s Million Dollar Protection package. What’s more, new customers can take advantage of the LifeLock promotions offered right now.
3. Enable Two-Factor Authentication
Two-factor authentication gives you extra protection from online thieves and hackers. Essentially, it means you can register a phone number or e-mail address and receive a code when you attempt to log into your bank account online. You’ll input that code after your password, which makes it harder for any unauthorized person from accessing your accounts. Check to see if your bank offers two-factor authentication so you can keep your accounts secure.
4. Get a VPN
Whenever you connect to a wireless network you don’t control, others can track your online activity. With a virtual private network (VPN), you can protect your online activity and prevent potential hackers from gaining access to your computer and your bank accounts. A VPN can help you establish a secure connection whenever you get online, which means your connection is encrypted.
5. Beware of Phishing Scams
Phishing scams can look legit, but you have to be careful when it comes to opening e-mails. Remember that your bank will never contact you and ask for personal information like your banking password, Social Security number or other sensitive information because they already have it. In recent years, scammers have gotten more sophisticated with their approach, even going as far as using an authentic-looking logo, so be careful.
6. Avoid Saving Your Bank Passwords
It might be tempting to save your bank passwords in your browser because it means you don’t have to try to remember them, but it’s not exactly safe. Avoid saving your bank passwords after you enter them and use a password manager instead if you’re not the greatest at remembering your online passwords.
Keep Yourself Protected
If you want to keep your private information private, you can create better passwords, get a VPN, monitor your online banking activity using LifeLock, enable two-factor authentication and be cautious of phishing scams, or do a combination of these things. Above all, stay vigilant and be careful with your private banking information.