Protecting Your Online Banking Account

Online banking allows people the freedom to do their banking from the convenience of their homes. Users can check their account balances, transfer funds and make bill payments any time of day or night. However, many people shy away from this technology due to concerns about Internet security. More than 5,000 people are getting stolen of their banking information daily according to BNA.

Online Banking AccountBanks understand these concerns. Nearly all have instituted several security measures to protect their customers. In addition, there are many things that users can do to further protect themselves and their financial information.

Select a Unique Username

Online banking customers will be asked to create a user name when setting up their account. It is not a good idea to use your email address. Rather, users should select a name that is easy to remember and unique to their online banking account.

Use a Strong Password

It is vital that users create a password that is strong and secure. It should contain a combination of upper and lower case letters, numbers and special characters. Users are strongly advised against using easy-to-guess passwords such as names of pets or family members.

Choose Security Questions Wisely

protect your online bank accountMost online banking systems will require their users to select from a series of questions and provide answers to these questions. These can later be used to verify their identity when logging in. Users should avoid questions that are easy for hackers to guess or discover through simple Internet research.

A person’s mother’s maiden name used to be the standard security question but now almost anyone with a computer can figure obtain this information easily. Answers to questions such as, “What was your high school’s mascot?” are equally easy to ascertain without much effort. Users should select questions that only they could possibly know. If the bank gives the option for users to write their own questions, they should use that opportunity.

Security questions are extremely important.  In the event that hackers obtain a user’s log-in credentials, access to the account may still be denied if they can’t provide answers to the security questions.

Practice Increased Security when using Mobile Devices

Users may find it cumbersome to answer their security questions every time they log in. Most banks will allow them the option of stating whether they are on a private or public computer. If users state it is a private computer, the bank will identify their IP address as such. In subsequent log-ins from that computer, they will no longer be asked to answer the security question. Users may be tempted to indicate that their laptops are private computers; however, because a laptop can easily be lost or stolen, this is not a good idea.

If possible, users should avoid connecting to their online banking accounts when using a public wireless connection. Sometimes, however, users find it necessary to do their banking while travelling and will use hotel or airport Wi-Fi to connect. The only way they can safely protect their information in these cases is to use the added security of a VPN.

Avoid Phishing Schemes

Hackers sometimes use phishing schemes to capture a user’s log-in credentials. They may send an official looking email saying something to the effect of, “it is imperative that you log into your online banking account immediately!” Users will then be provided with a link to their online banking account.

The link will, however, direct them to a site that mimics the actual site. Users may then enter their credentials unaware that they are handing them over to a hacker. People should never follow links to their online banking. Rather, they should type the web address directly into their browser of they should select it from among their saved favorite places.

Following these steps will allow people to remain safe online and prevent unintentional disclosure of personal information.

Kyle Gattis believes the internet should be free and open.  The USA VPN is the tool users can use to increase online freedom. Kyle strives to inform others about the tools available for avoiding restrictions on the web.

Install An Effective Internet Security Software

Internet security software now can protect your banking information and transaction with an extra filter of protection. Norton Security Deluxe has a function which focuses on credit cadr use and banking data. This software encrypts the information you type so all the data the leave your computer are hidden. It is not expensive, cause with a norton security coupon you can get a 20% discount.