Around 51% of adults use online banking services, and this number seems to rise each year. With the pandemic of 2020, even more, people switched to online banking as their bank branches closed their doors.
If you are thinking about switching to mobile banking for the first time, you’ll need to learn how to use these features safely. Banking online has risks, but you can minimize the risks with the right techniques, strategies, and steps.
Here are seven safety tips you can follow to protect yourself as you switch to online banking and mobile banking services.
1. Choose a Good Password and Change It Often
When you use mobile banking services or online banking, you’ll need to create bank mobile sign-in details. The two main things you’ll need are a username and password.
The username you use might be your email address. You’ll likely get to choose your password, though. When choosing one, make sure it’s a difficult one for someone to guess. You should avoid using your birth date, name, or general details.
Additionally, after making a password, you must get in the habit of changing it often. Changing your password often is an excellent way to protect your banking matters and personal details.
Also, never write your password down in a place where people might find it. Instead, keep it somewhere secure and out of sight.
2. Avoid Using Public Networks to Handle Mobile Banking Services
After creating an online account, you’ll be able to access it whenever you want to check it. When checking it, you may want to avoid using public networks. When you use a public network, people might see your login details.
If you always use a private network, you can keep people out of your account. For example, if you have a Farmers Bank online banking account, check it when you’re at home or somewhere secure. Never check it in a public setting.
Hackers have ways to access and steal information, and it’s much easier for them to do this on public networks. You might think no one will see your information, but this isn’t true.
3. Check Your Account Daily and Sign Up for Notifications
Using a bank mobile account offers many perks, including checking your account as often as you like. One safety tip to use is to check your account daily. By checking it daily, you can catch suspicious activity as soon as it occurs.
You can also monitor your account by signing up for notifications. Most banks offer this feature, and it sends you an alert any time there is activity with your account.
When you get a deposit, it sends a notification. When you use your debit card, it also notifies you. It notifies you of every transaction that comes through the account.
4. Keep Deposited Checks Until They Clear
Another perk of online banking is the ability to deposit checks through the app. To do this, you’ll take a picture of the front and back of the check. Next, you’ll click on “deposit checks.”
When using a bank mobile deposit feature, it typically takes one to three days for the check to clear. You should hold on to the deposited checks until you are certain they clear your bank.
If you shred them immediately, you won’t be able to try redepositing them if something goes wrong. After they clear, you can safely shred the checks, as you won’t need them anymore. By shredding them, no one can steal them from you.
5. Disregard Email Links From Your “Bank”
One vital thing to know is that you might receive emails that are supposedly from your bank. While your bank might email you, there’s a much greater chance that these emails are spam.
When you receive emails that state they are from your bank, avoid opening them unless you are confident they are really from your bank. If they are spam, it could be hackers trying to obtain your login information.
If you supply your login details through these emails, you might be handing over your confidential information to criminals. Therefore, avoid clicking on links in emails from your bank. If you have questions about an email, contact your bank directly.
6. Sign Out, and Passcode Lock Your Electronics
Another critical step you can take to protect yourself is signing out of your bank app after using it. Instead of just closing the app, you should click on the “sign-out” function.
Signing out offers an extra level of protection for you. Additionally, you might want to add a passcode to your phone. If you ever lose your device, no one would be able to access your personal information without this passcode.
Using a passcode not only protects your banking app, but it also protects every other app and detail you store on your phone. Use a passcode that is hard to guess, and write it down somewhere safe.
7. Use High-Level Authentication Services When Available
Finally, if your bank uses two-level authentication services, take advantage of them. With two-level authentication services, it’s harder to get into your mobile app account.
If someone tries to login and enters the wrong passcode, the app might lock the account. If you try to login from a different device, it might not let you unless you can authenticate your account.
Setting this up is a simple way to protect your information and money, and some banks also offer other options. Using as many steps as possible to protect your information is the best way to use online and mobile banking services.
Stay Safe by Following These Mobile Banking Tips
Mobile banking is becoming prevalent in this day and age, and you can stay safe by following these tips. Protecting yourself, your accounts, and your money is essential if you want to use online banking services on a computer or cellphone.
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