Online Banking: How It Works, Tips and Tricks

Online Banking: How It Works, Tips and Tricks

The growth of online banking in recent years has been remarkable. As more and more people move into online banking, it is very important to be aware of what it is all about and what you can do to ensure the security of your online bank accounts.

Here are some great online banking tips and tricks:

1. Only choose accounts with two-factor authentication

Two-factor authentication makes it almost impossible for any person without the express authorization to log into your account. If you are using the best online bank, you might be provided with a small device that generates a unique code every time you want to log in. In order to log in to the account, you must provide your login credentials as well as that unique code.

Online Banking

2. Create a very strong password

If your bank requires you to provide a user-generated password before you can access your online accounts, make sure you create one that is very strong. You can do this by mixing letters (upper and lower case), numbers as well as special characters. Avoid creating a password that contains your full name, date of birth or initials. If it is possible, change your password every once in a while.

3. Update your computer security software

Security software is absolutely vital these days. Always make sure your computer firewall is turned on and that your antivirus software is up-to-date. This will offer you protection from dangerous malware that might be used to steal crucial financial data from your computer. Your operating system should also be up-to-date always.

4. Always remember to log out

Every time you are in an online banking session, make sure you log out once you are done. This minimizes the risk of cross-site scripting or someone else hijacking the session. You can also set your phone or browser to always clear its cache after each session.

5. Monitor your account regularly

Go through your bank statement every month to see if any unauthorized transactions appear. In fact, since you have round-the-clock access to your account, check it regularly. If you notice any anomalies, notify your bank immediately. Keep track of your account balances to see if there are any discrepancies.

6. Avoid logging in using public Wi-Fi

Open Wi-Fi networks pose a massive threat because hackers can easily trace all your important data. They can do this by introducing dangerous malware to any device you are using through the unsecured network. If you have to use public Wi-Fi, make sure you have VPN software on all your devices.

7. Allow mobile notifications

Mobile notifications are great because they alert you instantly of any suspicious transactions. At the same time, they will notify you of any attempts to log into your account. This way, you will always be able to know everything that happens to your online banking account at any given time.

In summary

Although online banking offers great convenience to account holders, the security of your account is paramount. That is why you should do everything in your power to ensure that you are always aware of what is going on. These tips should help you in that regard.


Post a comment here

You must be logged in to post a comment Login

Leave a Reply


Writing about Current affairs, Education, Fashion & Health.

More in Business

CBD Business

Tips on Starting your Own CBD Business

Liza NicholeJanuary 6, 2019
Cryptocurrency Exchange

3 Things to Consider Before Getting Involved in a Cryptocurrency Exchange

Liza NicholeDecember 30, 2018
silk screening

4 Ways to use silk screening for marketing purposes

Liza NicholeDecember 29, 2018
Web Designing

4 Reasons Why Web Designing is a Good Career

Sarah AliceDecember 22, 2018
Online Business Ideas for Ecom Affiliate Opportunities

Online Business Ideas for Ecom Affiliate Opportunities

Staff ReporterNovember 19, 2018

4 Reasons a merchant account is necessary for your business

Daisy FlorenceNovember 12, 2018
Home Loan in Australia

5 Helpful Steps to Landing a Home Loan in Australia

Kristen LeuNovember 2, 2018
investing in crypto mining software

4 Tips to investing in crypto mining software

Kristen LeuOctober 28, 2018
Grow Your Business

5 Ways Marketing Can Help Grow Your Business For 2019

Kristen LeuOctober 27, 2018

Copyright © 2018 Khaleej Mag