What to Do to Bank Safely Online

Author: BankFeeInsider.com     Monday, March 03, 2014 12:00 AM

Banking online offers the ultimate in convenience for individuals, as well as businesses. After all, now thanks to the Internet, you can deposit checks, transfer funds between accounts, and even open up a checking account—all without ever stepping foot inside of a bank. However, with convenience comes responsibility. If you plan to bank online, make sure you are doing it with the utmost security.

Https

If you are using a banking website that begins with “http://” back out immediately. For a website to be secure, you want to see “https://” in the web browser. This indicates that you are on a secure website that is safe for viewing or making financial transactions. Another way to help ensure your banking website is legit is to use a wired Web connection rather than a wireless one. This is because a wireless connection is more easily breached by hackers.

Anti-virus Prevention

This is one of the most necessary forms of security on any Internet-bound computer, yet it won't stop all hackers from breaking into your web-based bank accounts. You can find quality anti-virus and malware protection for free from several top rated companies, such as Avast!, AVG, McAfee, and Norton. Install this on your personal computer and keep it updated for best results.

Passwords

Another way to slow down hackers from stealing your financial information when banking online is to update your passwords regularly. For best results, update your password once a week or at least monthly. Never use the same password, and choose random passwords, such as AseJKL8394@&*$_ that includes a range of symbols. The most common passwords are “PASSWORD,” “12345” and “QWERTY,” all of which should be avoided entirely. Finally, do not save your passwords anywhere online or on your computer. If you write your password on a piece of paper, keep this in a safe place, such as a filing cabinet, in case your home or office were to be robbed.

Use Your Own Device

One final tip for safe online banking is to use your own device especially when away from your home or office. Avoid banking online at a public use computer terminal, computer lab, or from someone else's personal computer. You have no idea what kind of security, virus, or firewall concerns are associated with a strange computer. Additionally, public use terminals are much more likely to have been hacked into than your personal, private computer. Finally, there is always the risk that your information will be stored in the hard drive only to be stolen at a later date, which could be devastating months or even years after you have used a public computer.

Source: BFI