Banks. Love ‘em or hate ‘em, we need the banks to protect our life’s savings. But with the rise in online banking technology, there are also more opportunities for theft. So with the development in online banking technology over the last few years, particularly in relation to online retail, my clients often ask me if I have any advice for accessing banks online more effectively – and safely.
So here are my five best tips:
Let’s start with your password. You’ve heard the advice before – to keep your password secret – but you should ensure it doesn’t relate to anything personal to you. That means no kids names, digits on your bankcard, birthday or street addresses.
Next up, the lock icon. Every time you’re online and particularly when you’re shopping – even more so when you’re shopping online overseas – you must look for the lock icon on the URL (address bar). This is crucial if you happen to be checking your internet banking while on holidays from a foreign computer. If the lock’s not there, the website could be insecure and you open yourself to being hacked. It’s best to simply find another source and only use these portals for general browsing. You can always check with your hotel for advice.
Again, this tip might be obvious, but the crooks wouldn’t do it if it didn’t work. Don’t ever trust emails supposedly sent from your bank. An email requesting you to send any kind of personal detail or to change your password is always going to be a fake. The giveaways are that the email will try to appear professional, but it won’t have any defining address; it may also contain typos, or won’t personally be addressed to you other than your actual email address. If you’re not sure, ring your bank.
Don’t forget to log out. Better still, install a password that needs to be entered every time you log on. You may think your computer is safe at home, but what happens if it gets stolen? They may have full access to your bank account. This one’s easy to set up whether you’re on a Mac or PC, and will give you instant peace of mind.
Computer security. It can be hard to know whether the computer you are using to access your internet banking has a security program installed. If it doesn’t, you’re liable for a virus or Trojan that will keep details of your password or log in details. Best thing to do is only log on to internet banking from a source you trust. And if you’re logging on from your phone, which many of the banks offer now, choose a password that is unrelated to you too.
