In the past, sending and receiving money was not as easy as it is today. Earlier it was a cumbersome job to go to the bank for every banking related work. But with the digitization of devices, inclusion of advanced technology and internet boom, online banking introduced and simplified the way everybody manages banking tasks from sending to receiving money, paying online bills to buying something online, keeping an eye on the account balance and transaction on the go and a lot more.

Tips to Protect E-Money

Technical advancements have changed everything and brought so many flexibilities, but with this comfort it also brings some risk to your online presence. If you don’t care about your security while performing online transactions your security and privacy is prone to be shattered.  There are so many hackers and cyber-criminals who always target online identities and bank accounts. You need to be very attentive to keep your hard-earned money safe while online banking.

So, here some useful tips are given that will be useful for maintaining the security while online banking:

Strong Password and Two-Factor Authentication

This is the most basic step that you should follow if you want that hackers could not guess the password of any of your online account. Using a strong password containing special characters, upper & lower case letters, and numerals is one of the best security measures to take. It will minimize the chance that a hacker can crack a password. If it is a simple and consistent string, it will take less than a minute to hack a weak password.

Strong Password and Two-Factor Authentication

One more measure of precaution is, never set the same password for different online accounts because if one account is hacked all the other accounts having the same password maybe compromised that may lead any illegal hacking attempt. Frequently changing the passwords is also a good habit to create robust account security. If you can’t remember all the passwords, you can use a good password manager to store all the passwords and avoid the chances of losing your credentials.

Two Factor Authentication

Two-Factor authentication also minimizes the risk of account hack because an account can’t be accessed until the OTP or code is entered. This code is sent either on the registered mobile number or mail. If you have two-way authentication, it will force hackers to have your password as well as mobile phone with the registered number to hack your account and this is hardly possible.  Also go for a bank that offers two-factor authentication and sends alert messages or notifications in case of multiple attempts of account accessing and online purchasing.

Secure Your PC/ Smartphone                                            

Don’t access your banking account from an insured device. If you are using your smartphone or PC for banking transactions, make sure that they are not infected. Because if it is infected, a malware like a monitoring software or keylogger could easily steal your login details and leave your account in compromised state. So make sure that you have the protection of a reliable antivirus and firewall enabled for the protection against malware.

Secure PC

Keeping your operating system updated and using the latest operating system can be helpful in avoiding the risk of hacking and intrusion. Not only operating system, but also the browser you use should be updated because the developers release updates and patches to ward-off the risk of available threats and ensure that you don’t become a victim.

mobile banking

Smartphone users also need to be aware of prevailing risks and use the necessary measures. Although, smartphones are less prone to infections, still they are not completely safe.  For online banking, it’s important that your device is secure. If you are in doubt about the security of your Android and iOS, there are many antivirus apps available for these platforms. Also ensure that your use a strong protection and password, so that people could not steal the information inside. This is helpful because smartphones are portable and you may forget or loss your phone anywhere. In this situation, you will get enough time to inform your bank about the situation.

Avoid Malicious Hyperlinks and Beware of Fake Emails and Calls

Be brainy while clicking on links that ask you to provide your login details for winning some offer prize. That link may direct you to a malicious site to steal your confidential information. Never give your login information to others or external sources. To minimize the risk, always type the URL in the browser’s address bar and then manually login to your account.

Malicious Hyperlinks

Scammers have become very smart and they pose themselves as a bank agent to the customers and ask for the credentials for their own benefit. Think logically before giving any information about your bank account to anyone because a bank (or any other company) will never ask for personal or login by any medium (even in person). So just need to simply ignore any such requests. If you feel that it is important, call your bank.  The max they may ask is your account number or ID details that you have given to them while opening the account.

Refrain from Using Public Devices and Public Wi-Fi

Refrain from Using Public Devices and Public Wi-Fi

Access your bank account only on trusted devices and never use a public PC. You also need to be careful even if you are borrowing a device from your friend as they also may not follow proper security measures. If it is a compulsion to use a public device, delete all the generated data after logging out. Do this on your personal devices also otherwise you may a victim of session hijacking.

Refrain from Using Public Wi-Fi

Don’t a public Wi-Fi network for banking transaction because if you and the hacker are on same network, it will be very easy for the hacker to steal your information. Use a good VPN on your smartphone or PC to encrypt the connected network if you use a public Wi-Fi network because it will keep the snoopers out. Sometimes a hotspot itself could be infected and in such situations, even the VPN won’t help, so, avoid using public Wi-Fi networks for online banking unless it is the last option.

Set up Account Notifications and Monitor Changes in Your Account

Set up Account Notifications and Monitor Changes in Your Account

Take the advantage of custom notifications for specific activity in your account if your bank offers it. In this case your bank will send notifications for account information changes, suspicious logins, withdrawals, or any other suspicious activity. Such notifications will alert you about your account status and will give you time to react on time. With online banking facility it is easy to track your account status. You can see all your transaction in your online account statement. Keep an eye on your account frequently to check any suspicious activity immediately and report about it.

Use Incognito or Private Browser Window/ Use Bank’s App on your Smartphone

Use Incognito or Private Browser Window

If you are accessing your account on your computer, use Incognito or Private window. If you access information in private or incognito window, all types of data that generates while browsing on the web get deleted as soon as you c lose the window. All popular browsers brings this feature and if you want to open these windows manually, press Ctrl+Shift+N or Ctrl+Shift+P. Nothing will be stored including cookies, cache, history and other similar data when login to your online bank account through this window. In this way no one can take advantage of your browsing session including malware and hackers.

Use Bank’s App on your Smartphone

Most of the banks provide an app for their smartphone users to perform banking transaction. User can install the app and use that instead of using web portal. These apps are safe and hackers rarely target apps. Moreover, you need to use fewer precautions while using the app in comparison to a browser.

Hackers never take a break from trying to hack into accounts to steal crucial information and money. You need to be really careful and keep the security up-to-date in order to make sure your online bank account is safe because keeping your online banking account is not as easy as keeping your debit card or  cheque book.

Keeping your E-banking accounts safe is a must if you want to avoid any money scam. For the protection of your E-banking accounts, you need to keep your device secure from the hackers, attackers, and hijackers. Installing a good antivirus application is a good way to stay protected from online threats. If you want to install any such application and facing problems, call our support number for installing antivirus for Android, antivirus for for Windows, antivirus for iOS.

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