It was first introduced in the early 1980s, so the idea of banking online is nothing new. In fact, it’s so common that more than half of all U.S. adults routinely complete banking transactions online. While nearly 17 million people were victims of identity theft in 2017, online banking can be perfectly safe if the right precautions are taken. Here are four tips for safe online banking to keep in mind while making your transactions.
1. Frequently Change Your Password
Get into the habit of changing your online banking password every two to three months. As for recommendations for password choice, avoid using single words. Instead, go with a combination of lower and uppercase letters, numbers and special characteristics. With longer passwords, it’s fine to use phrases or favorite verses or passages to help remember them. Just randomly switch some letters with numbers or symbols to make your passwords unique.
2. Don’t Do Banking via Public Wi-Fi Connections
Most of the time, public wireless connections (Wi-Fi) aren’t set up properly or sufficiently secure. With unsecured Wi-Fi, anyone in the area accessing the Internet can view your browser history or password. You’re also at risk if you are logging into password-protected banking sites via public Wi-Fi. Err on the side of caution, and only access your bank account with secure connections.
3. Carefully Check Your Bank Statements
Most banks make an effort to detect unusual transactions and stop such payments from going through, especially anything involving credit cards. Even so, some questionable transactions may go undetected. Reduce the risk of being surprised by oversights by regularly checking your monthly bank statements. Contact your bank right away if you notice anything suspicious.
4. Disconnect Your Wi-Fi Connection When It’s Not Being Used
With cable internet, the Wi-Fi connection is typically always on. But if you have the ability to switch it off, do so when you’re not using your computer or laptop to further reduce security risks. If you can’t turn off your internet, make sure your Wi-Fi connection is secured with a password. This is especially important to do with mobile devices.
Finally, resist the temptation to click email links to your bank’s website, even if they seem legit. Instead, type the URL for your bank. American Verification Processing Solutions allows merchants to provide added security for customers and clients wishing to make payments or complete purchases online or with mobile devices with credit or debit cards. Check out our website!