How To Maintain The Security Of Your Bank Account

Posted by Checkbook on Aug 11, 2020

You can never be too careful about your money!

Gone are the days when people would have cash stored in their homes. All money is now virtual, and all of it is stored in the hands of our fiduciary partners, banks. Money is transacted as easily as tapping your phone or swiping a card. Maintaining the security of your bank account is imperative now.

Here’s how to start:

Safeguard Your Information: Be cautious. Never share your account information with anyone online or offline. Scams can start where you least expect it. That random person you added on social media or that link in the email that seemed to be from your employer could lead to your information being stolen. Consider a legitimate password manager. Most issues do not originate from banking activity, but rather from internet use. Use safe websites when shopping online and consider using more secure payment methods such as PayPal.

Choose A Bank Wisely: Make sure you are comfortable with your bank and the customer service that you are receiving. Choose a bank that has a good reputation when it comes to information security. Don’t let those extra dollars in the signup bonus trick you. Your damage could be much greater than that little amount of money.

Know your protections: You should know how to report bank account and credit card fraud to your financial institution. What are you responsible for in the case of fraud? Moreover, you should know the difference between using a debit card and a credit card. It’s not always limited to your financial institution – know what external resources are available in the face of fraud.

Make Smart Choices With Online Banking. Despite online banking making things easier, don’t forget to use strong passwords and multi-factor authentication. Do not login to your account from an unprotected Wi-Fi network.