Managing your money is one of the most important tasks in life, and it’s no surprise that many people feel the need to be more secure when it comes to their bank accounts. You can take many steps to make sure your information is secure and that you’re not leaving yourself exposed to fraud.
1. Use Two-Factor Authentication
Two-factor authentication—also known as two-step verification—is a common security tool that allows you to login to your online banking account using a code sent to your mobile device. This means that if someone were to gain access to your phone, they would need to have access to both your password and the security code sent to your mobile device.
You can set up two-factor authentication on your mobile device, but you may also be able to set it up through your bank’s website.
2. Avoid Phishing Scams
Phishing scams are common via email, and they’re often used to try and gain access to your online banking information. These fake emails may ask you to click on a link or enter information into a form in order to help you with a financial transaction.
You should be wary of emails that ask you to click on links or enter information in order to help you with a financial transaction. Instead, you should open these emails and report them as phishing scams.
3. Report Fraudulent Activity
If you have any concerns about the activity in your online banking account, you should report it. You can do this by contacting your bank or by using the bank’s online security tool. You should also contact the Federal Trade Commission (FTC) if you have concerns about fraudulent activity in any of your accounts.
4. Take Advantage of Banking Online Security Tools
Banking online has become a more and more common way for people to manage their finances, but there are still a number of security concerns that could cause you to realize you need more protection. These include phishing scams and fraudulent activity.
If you would like some advice on how to protect yourself, you can use banking security tools that are available through your bank or through third-party websites. For example, your bank may offer tools that allow you to monitor your account and alert you when there are suspicious transactions. You may also be able to set up a two-factor authentication lock on your smartphone when you log in to your account. This will require a code sent to your mobile device before you can log in.
5. Consider Password Strength
Password strength is one of the most important factors when it comes to protecting your personal information from hackers and thieves. A strong password is one that contains letters, numbers, symbols, and special characters—in other words, it should be easy for you to remember without having other clues about what it is. It’s also important to keep long passwords because these are more difficult for hackers to guess.
You should use at least eight characters for your passwords, but 12 is better. You should also change your passwords regularly—at least every 30 days—and avoid using the same password for multiple accounts. You should also avoid using the same password for both personal and financial accounts because this will make it easy for someone else to gain access if they steal your password from one account.
If you’re concerned about how strong your passwords are, you can use a password manager that will create unique passwords for all of your accounts and help you remember them when you log in. You can also use a password manager on multiple devices if you’re concerned about the security of one device.
6. Check Your Email Often
Email is one of the most common ways for hackers to gain access to your personal information, so it’s important that you check your email often for any suspicious or fraudulent activity. If you do notice anything suspicious, you should report it immediately by contacting your bank or through its online security tool. You should also contact the FTC if you have concerns about fraudulent activity in any of your accounts.
7. Be Sure You Control Your Bank Account Login Information
Even if you manage all of your other accounts through the same email address, there may be times when you need to log in to your online banking account using another email address or username. If someone gets access to this other information, they can gain access to your money, so it’s important that you take steps to prevent this from happening.
You can set up two-factor authentication on your smartphone so that someone else must also have access to this device in order for them to log in to your online banking account. You should also change the password for this account each time you change the password for another account. Finally, if you do have access to multiple devices, don’t use the same password on all of them. You should also make sure that the only person who has access to this account is the one who knows the password for it.
There are many ways that someone could get their hands on your personal information and start spending money in your name. There are some simple steps that you can take to help protect yourself against this type of fraud—and there are additional steps that you should take as well. The most important thing is that you take these steps so that no one else ever has access to your money or personal information.