5 Tips for Safer Online Banking

Whether you’re visiting a brick and mortar bank or credit union in Detroit or checking your account online, there’s always a level of risk involved. As more people take advantage of the convenience of online banking, online threats and attacks become more common. Fortunately, there are ways to protect your savings and checking account; some are as easy as choosing a stronger password. Follow these tips from Public Service Credit Union to keep your money as safe as possible!

Use Two-Factor Authentication

Many internet users use two-factor authentication to protect their email accounts, so why not use it for your bank account? Many accounts are available with this extra layer of security. With two-factor authentication, a small device creates a different code every time you log into your account. The code is valid for a short amount of time and is entered with your username and password when you sign in.

Use a Strong Password

Choosing a strong password is one of the easiest ways to make online banking safer. How do you create a strong password? Don’t make it easy for someone to guess your information. Create a password that uses both upper and lowercase letters, as well as special characters and numbers. Most importantly, don’t include obvious information in your passwords, such as your birthday, name, or initials.

Be Careful How You Access Your Account

For starters, it’s important to make sure your antivirus software and firewall are up and running. If your antivirus protection will expire soon, renew it to avoid gaps in your internet protection. You’ll also want to be sure you’re accessing your account via a secure connection. You should see a little padlock in front of the site URL, and the URL itself should begin with “https.” If you don’t see either, your connection isn’t secure; don’t log into your account until you’re sure it’s safe to do so.

Receive Account Notifications

To make online banking easier, most banks offer text or email notifications so customers can keep tabs on their accounts. You can personalize these notifications. For example, you can ask to be notified if a withdrawal over $100 is made from your account or if your overdraft protection is used. This is an easy way to monitor your account for suspicious activity, allowing you to take action as soon as it occurs.

Check Your Accounts Often

Speaking of monitoring your account, it’s always a good idea to review your bank statements each month. With online banking, you don’t have to wait until they arrive in the mail; you can sign in and review your expenses in one place. You can also view past statements dating back several months. When you sign up for notifications and review your bank statements regularly, the chances of an authorized transaction flying under the radar are slim.

Learn More About Online Banking from Public Service Credit Union!

Do you have additional questions about how to stay safe while online banking, or do you have questions like, “How much should I keep in my bank account,” or, “How do credit vs. debit cards compare?” Contact us at Public Service Credit Union to learn more!

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