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Safe banking habits can protect your accounts

Are your banking habits safe?

October 14, 2016

Technology has empowered you to manage your banking with greater insight and control than ever before. But with great power comes great responsibility. It’s important to practice safe banking habits for efficient and secure money management. You could be at risk for fraud or theft if you aren’t taking necessary precautions. Here’s how you can manage your banking safely:

DON’T

Wait until your monthly bank statement arrives to check your accounts. The sooner fraud or unauthorized activity on your account is noticed, the quicker your account can be secured. You know your banking activity best, and can often catch theft sooner than your bank.

DO

Regularly check in with your accounts to make sure all transactions are your own. If you find fraudulent or suspicious activity, immediately report it to your bank. Typically, the bank will cover your loss and exercise protocols for securing your account. If your bank has a mobile application, this can be a great option for monitoring your account. Banks go to great lengths to guarantee the security of their apps so you can manage your money with confidence and convenience. You can also set up text or email notifications for account activity including balance notices, withdrawals, deposits, and overdrafts.

DON’T

Use public networks to access your accounts. Public networks in places like coffee shops, airports, and hotels are not secured. It’s easy for your information to be intercepted across these networks.

DO

Use your private home network for banking. You can still check your account on the go, just make sure your device is using cellular data instead of wifi.

DON’T

Use simple passwords across multiple accounts. Avoid passwords that include your name, birthday, or initials. If you have multiple online accounts, it’s wise not to use the same password for all of them.

DO

Choose a password that includes a mixture of upper and lowercase letters, numbers, and special characters. It’s also a good idea to change your password every few months.

DON’T

Forget to update your computer or leave it unprotected. Some viruses only attack out-of-date systems, so you can help prevent hacks by regularly updating your device.

DO

Install powerful firewalls and antivirus software to prevent malicious attacks.

DON’T

Access your account by clicking through emails. Phishing emails are messages that trick people into offering private information, such as your username and password. They are a common way hackers gain access to bank accounts. To manage your banking, always go directly to the bank’s website in your browser.

DO

Check for encryption on bank websites. Look for a small lock icon somewhere on your browser, and URLs that begin with https://. These mean that a site is secured and your data is encrypted.

Managing your money requires paying attention to your bank account and taking measures to prevent hacking. Avoid putting your money at risk by practicing safe banking habits.

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