Protect Your Online Bank Accounts With These Security Tips

There’s no question that online banking has made our lives a lot easier. We can check our accounts and conduct various transactions any time of the day or night. And we can do it at home, while vacationing, or when we’re on the go.

But in order to keep our accounts secure, we need to be vigilant of cyber crooks. They’re constantly looking for opportunities to exploit those who don’t have their guard up.

To protect your accounts from online thievery, consider these tips:
 

• Don’t allow your passwords to be easily accessible. For example, don’t save a file on your computer or smartphone titled “Passwords”, and don’t keep them on a piece of paper in your wallet or purse.


• Set strong, unique passwords and change them on a regular basis. Passwords should be at least 8 characters long and include a combination of numbers, capital and lowercase letters, and symbols. Don’t use the names of your children, pets, or family members in your passwords either.


• Don’t share your passwords with anyone.


• Check your accounts regularly. Reviewing all of your activity on a regular basis will make it easier for you to spot any suspicious or fraudulent transactions. And the sooner you can alert your bank to any fraud or errors, the better your chance of having those transactions removed from your account.


• Consider setting up online banking alerts if your financial institution offers them. These types of notifications can help alert you to low account balances or suspicious transactions.


• Don’t use the same password for several accounts. If you do, and an online thief figures out the password, they’ll have easy access to your other accounts.


• Never send sensitive information like bank account numbers or Social Security numbers via email.


• Always fully log out of an online banking session. Don’t rely on your browser’s “back” button to exit a session. Once you’ve logged out, close your browser for added security.


• Don’t leave your computer unattended during an online banking session.


• Update your computer or mobile device’s security software, operating system and browser on a regular basis.


• Only access online banking from a secure internet connection. Never conduct your banking business on public computers, or through a public Wi-Fi network, such as those available in coffee shops and hotels.


• Be sure your computer has firewall protection and that it’s enabled. Firewalls help screen out cyber crooks and protect your computer from malicious software, or malware.


• Make sure your wireless router’s encryption feature is turned on.


• Change the default name provided by the router’s manufacturer to one that only you would know. The same goes for the default password that’s provided.

At BankFive, our online banking platform features enhanced login security to increase your level of protection online. This security feature checks to see if you’re logging in from a recognized device. If you try to log in from a new device (one you haven’t used before) you will be prompted to have a security verification code sent to you via a phone call or text message, at a number already associated with your account. Once you receive that code, you’ll need to enter it into the online banking platform before you’re granted access to your account. This additional layer of protection helps to prevent unauthorized access to your BankFive accounts in the event that a crook is able to obtain your username and password.

No matter which financial institution you use for your banking needs, if you suspect your online account has been compromised, contact your bank immediately to report the matter. Remember - you’re the first line of defense when it comes to protecting your accounts online.