Can You Make Your Banking More Secure?

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You’re worried about losing your money. You’re worried that someone is going to grab your wallet out of your pocket, pull a check out of your bag or hack into your mobile banking app. 

To ease your worries, you should read these banking security tips.

Use Direct Deposits 

One thing you can do to increase your banking security is to minimize your dependence on paper checks and cash. So, arrange for direct deposits whenever possible. 

It’s common for workplaces to offer direct deposits for paychecks, allowing them to transfer your wages into your checking account on payday. Even borrowed funds can be directly deposited into your account through a direct deposit loan. Click here to find out what are direct deposit loans and what are the advantages of using them. You just might need to apply for one of these online loans in the future.

Make a Strong Password

Your financial security is only as strong as your password. If your online account’s password is easy to guess, then it will be easy for hackers to access. Something like “1234” or your own name will not provide much protection. Look at the examples of the most common passwords and avoid using them at all costs. 

Use a “strong” password for your account. What makes a strong password? It should not be general information that anyone could know with a brief online search (for example, your last name). It should have a combination of uppercase and lowercase letters, along with numbers and special characters. 

Set Up Alerts 

Set up alerts through your online banking to detect any activity that could indicate a breach in security — or at the very least, a failed attempt at a breach in security. These are some alerts that can warn you about security threats:

  • Alerts for online profile changes
  • Alerts for password changes
  • Alerts for large ATM withdrawals
  • Alerts for large purchases
  • Alerts for unusual activity

All of these alerts could let you know that someone has attempted to commit identity theft or financial fraud against you. Catching this could encourage you to take immediate action, like contacting your bank and canceling your bank card.

Avoid Public Wi-Fi 

You shouldn’t do any banking while connected to public Wi-Fi. Why? Hackers could potentially access your data through your shared connection, which is not good when you’re going through your bank account. A common solution is to get yourself a virtual private network to browse away from nefarious voyeurs who could use your data against you.

Protect Your Smartphone

If you use a mobile banking app, you will want to make sure that it’s incredibly difficult to break into your smartphone. You want to be prepared for the scenario where someone steals your phone and tries to access your bank account through it. 

What steps can you take to protect your smartphone?

  • Have a strong password, passcode or pattern.
  • Use thumbprint or face ID to unlock your phone.
  • Keep your banking app in a hidden folder.
  • Have a GPS-tracking app like Find My Device or Find My iPhone, which will let you find lost phones, remotely lock them and even remotely wipe them to prevent a data breach.

You can’t afford to worry about your money all of the time. Bulk up your banking security!

Denis Ava
Denis Avahttps://allbusinessreviews.org/
Denis Ava is mainly a business blogger who writes for Biz Grows. Rather than business blogs he loves to write and explore his talents in other niches such as fashion, technology, travelling,finance,etc.

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