Search

How to Improve Online Banking Security: 6 Ways to Improve It

Though online banking comes with its own set of risks, there are also conveniences like monitoring your balances remotely, depositing checks, transferring funds to friends and family, and earning more interest.
How to Improve Online Banking Security: 6 Ways to Improve It
Use secure internet networks, have strong passwords, and choose a bank or credit union that uses top-class security technology. Banks and credit unions have policies to keep online customer accounts secure to safeguard your cash. As an account holder, you also have to ensure that your account is protected on your computer and other devices.
In this article

People rarely rob a bank these days. With a few hits on the computer keyboard, robbers steal all the money online. This is why it’s important for you to improve your online banking security and keep your account safe from hackers.

Banks and credit unions have policies to keep online customer accounts secure to safeguard your cash. Most banks employ security measures like anti-virus protection, firewalls, fraud detection, and website encryption where only the intended recipient can access it. As an account holder, you also have to ensure that your account is protected on your computer and other devices.

Phishing scams

Many robbers send out emails or text messages posing as your bank in the hopes of deceiving an innocent customer. The message or a phone call might be about periodic account verification and ask for your bank password or Social Security number. Some might even send messages like, “you have won $100 million, but your account information is required for funds to be transferred”. If you send the information, the perpetrator would make purchases or withdraw money from your account. Always make sure that you or someone you know doesn’t reply to emails, texts, or calls that appear real or obviously look like a scam.

See also about: Online Payday Loans In Louisiana

How to improving your online banking security 

  1. Choose an establishment that uses top-class security along with low fees and high-interest rates. After that, make sure to get a secure computer and internet connection.
  2. Banks offer multi-factor authentication. When logging in with a username and password, the financial institution might ask you for a one-time password or any other crucial key or information like a fingerprint for extra verification. It is difficult for robbers to access an account with multi-factor authentication. You can become alert if any banking page you are trying to access asks only for your username and password and close the page immediately. Most distinguished online banks and traditional banks that offer online banking services have these cyber security standards. That’s why it is advisable to find a large bank or credit union.
  3. You must not use public Wi-Fi for online banking. A public network can be unprotected, and some people can access what you send online. You can be safe if the page is encrypted, but you never know if robbers can access these pages also. The network security of your private home network is perfect. If you have to use online banking services when traveling, consider using your mobile internet plan instead of hotel Wi-Fi or even a virtual private network, commonly known as a VPN. Another tip you can have in mind is to check for web page encryption on the address bar on the browser to be “HTTPS.” The “s” indicates that the page is secure.
  4. Invest in paid anti-virus software and frequently update it on your home computers, tablets, and mobile phones.
  5. Update and shuffle passwords routinely. Create combinations that are challenging to figure out with uppercase and lowercase letters, numbers, and symbols totally unrelated to your personal details or date of birth. The more complicated the password, the more challenging it will be to decode, which would obviously provide some security.
  6. Opt for text alerts. Most banks have the option to receive alerts such as text messages or emails for any transactions, or whenever huge transactions are made, or if the balance decreases to a certain amount. You contact the bank immediately if you see a transfer you didn’t make and stop transactions until you find out who is behind the unusual activity. Moreover, you could dispute unapproved charges for 60 days after the bank statement is published.

See also about: Online Payday Loans In Louisiana

Though online banking comes with its own set of risks, there are also conveniences like monitoring your balances remotely, depositing checks, transferring funds to friends and family, and earning more interest — online-only banks always have the best rates. Thus, don’t try to avoid online banking services or online-only banks. Other than the server being down for maintenance when you need it, there are no notable disadvantages. You can enjoy the comfort of banking online after making sure your devices are protected, and the bank uses top-class security technology.

Was this helpful?

Did you like the post or would you like to give some feedback? Let us know your opinion by clicking one of the buttons below!

👍👎
Richard Samuel

Richard Samuel

E Richard Samuel loves learning. From finding out the newest food in town to traveling and writing, he loves learning about everything. When he’s not writing, he’s probably trying to master the piano or watching food reviews.

This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

Related Posts

Social Security Number
What is a Social Security Number?
A Social Security number (SSN) is a nine-digit identifier designated to a US citizen, permanent resident and temporary (working) resident to keep a track of their income and decide related benefits to them. Here's everything you need to know about a Social Security Number, including how it works.
Stop Payment – How to Cancel a Check & Stop Payment fees
There are many ways to request a stop payment, and the fee is different for each method. Most banks have the option to request a stop payment on the online banking website, computerized telephone banking, or customer service. A stop payment on a check is valid for six months.
How to cancel a lost or stolen check
How to Transfer Money From Bank to Bank in Few Steps
If you want to transfer money online, you need to establish a link between the two accounts involved. Bank transfers are common for people who own both a checking account and savings account in the same or different banks.
Features
Essentials

Get up to $1,000 for emergencies

Send money to anyone in the US

Ger personalized financial insights

Monitor and grow credit score

Get up to 20% on everyday spends

Save up to 40% on car insurance

Get up to $1,000 for loss of income

Insure up to $1 Million

Coming Soon

File federal and state taxes at low cost

Quick estimate of your tax returns

Get up to $1,000 for emergencies

Send money to anyone in the US

Save big on auto insurance - compare quotes now!

Zip Code:
Zip Code: