Top Cybersecurity Tips for Online Banking Safety
As instances of financial fraud continue to increase, we’re here to keep you protected with some of our favorite cybersecurity tips for online banking safety.
Whether it’s guarding yourself from identity theft or keeping your personal devices secure, follow these 10 tips for using online banking safely.
Use strong, unique passwords
Create unique passwords, such as phrases, that use a combination of words, numbers, symbols and both upper- and lower-case letters. To make these easier to remember, choose length over complexity. Make sure you also set up different passwords for each account. By varying your passwords, you reduce the risk a hacker can use one password to compromise multiple accounts.
Check out more do’s and don’ts for safe passwords.
Take advantage of biometrics
In addition to a PIN or pattern unlock, most modern smartphones have biometric authentication methods built in. These include fingerprint scanners, face recognition, and voice recognition. The data for these authentication methods is encrypted, preventing it from being easily accessed and replicated. Biometrics such as Face ID are safe ways to log into some of your favorite apps, including online banking.
Enable two-factor authentication
Multi-factor authentication adds an extra layer of security as you will verify login attempts with an additional notification. This helps deny unauthorized login attempts if an account is compromised.
Set up alerts on your accounts
By using account alerts in online banking or our mobile app, such as Service Credit Union’s My Cards service, you can be notified about account deposits, transactions and much more. Seeing an unexpected or unusual transaction can allow you to act fast.
Regularly check your accounts for unauthorized activity
In addition to setting up account alerts, make sure to regularly check your recent transactions using online banking.
Avoid public Wi-Fi
Hackers can easily monitor your activity when you’re on a public Wi-Fi network and can potentially steal your name and credit card information. Try to stick to secure, trusted networks when making purchases or logging into online banking. When in doubt, stick to using your wireless carrier’s cellular network.
Check out more online shopping safety tips.
Be cautious of phishing scams
Steer clear of any emails or texts asking you to verify your online banking credentials. Learn more about phishing scams and how to check if a message is legitimate.
Use a digital wallet
If you have an Apple, Android, or Google device, you can configure your phone or watch for tap payments. These digital wallets are encrypted, making your transactions safer.
Protect your Social Security Number
Do not share your SSN without confirming why it is needed and how it will be protected. Store your Social Security card and other sensitive documents safely, preferably in a locked location.
When you are done with sensitive documents, shred them
If a document contains identifying information (name, address, account numbers, etc.), shred it before disposing of it.
Looking for more tips to make your online banking more secure? Check out our Security Center.
