There were always criminals who try to take advantage of the unsuspecting to access bank accounts. That is still true today, but there are far more ways that unscrupulous individuals can enter private accounts, whether through hacking or trickery. Fortunately, there are also ways you can keep your online bank account secure from these individuals. Know what to do when you sign up for an account online and protect your money and assets.
Start With a Strong Password
Everyone hears that they need to create new passwords for every account they open, but many choose convenience over security. No one realistically expects you to memorize several different passwords across multiple accounts, but you need to make sure that what you come up with will prevent hacking attempts.
If you are adamant about only having one password for everything, take the advice of the creation screen and make it a mix of upper and lower-case letters, numbers, and symbols. This is the foundation of your digital security; you don’t want to make it easy for people looking for quick access.
Utilize Two-Factor Authentication
Most online banks have programs to authenticate your access in two steps, usually by inputting a password and answering a security question. Other, more involved methods have you calling up the bank to give verbal access while answering a question over the phone.
Whatever you decide to do or what your bank offers, using two-factor authentication will only add to the layers of security to protect your account. While scammers may gain knowledge of your password, they may still run into the issues of entering incorrect information, locking them out of your account.
Opt Into Banking Alerts
You can opt-in to alerts warning you of activity so you can catch when frauds attempt to access your bank or credit card information. It will require you to download your bank’s application on your phone, but it is a great way to always keep tabs on your account’s situation.
You can always know what is happening to your account and get updates in real-time, warning you. This allows you to take immediate action and stop suspicious purchases, saving you a lot of time.
Know How Your Bank Protects You
It’s important to know how you can protect your online bank accounts, but it is equally important to understand how your bank can help you. Know the services your bank offers and how you can secure your money and finances. Don’t wait for a security breach to do something; take matters into your own hands as soon as possible.
