Today’s progress in economy and technology has made banking easy. Through internet banking, you can now access the basic functions anytime and anywhere you would want. They are even accessible through your fingertips via your mobile phone.
While there are several benefits to this form of internet and mobile banking, the flip side of this coin also shows up. There are certain risks involved with this form of banking, which has remained a huge concern for users. In order to ensure that you enjoy secure and safe banking transaction, here a few factors you can follow:
Always use genuine anti – virus software: Very often it is your system that gets compromised through phishing, malware and virus software. This is also applicable for mobile banking.In order to protect your computer or mobile from such factors, you need to use a genuine anti – virus software. While you do get trail versions online, a completely anti – virus software will help detect and remove spyware that can allow outsiders to access sensitive information.
Avoid using any public Wi – Fi: One of the biggest threat of internet banking with a public wi – fi network is that the hacker can sit between the end user and the hotspot and trace all the data with ease. With this easy access, the hacker can easily introduce malware or viruses into your device. So if you must use the Wi – Fi for any internet usage, avoid using it to access your bank details or make any payments. As a precaution, you can set up a VPN software on your computer to create a secure a tunnel between the computer and the internet.
Check for the latest update on your operating system: Whether you are using a computer, laptop or any mobile based device, you should ensure that your operating system is well updated with the latest security patches and updates. As far as possible, avoid using cracked OS’s or jail breaking or rooting your phone. You should also look to limit or restrict access from programs or apps that are being installed, to only what they really require.
Change your password regularly/keep a strong one:While this may sound clichéd and avoidable, it is important that you keep your account safe while maintaining confidentiality. The facts goes without saying you must not share these details with anyone. No bank will ask for your confidential information. Additionally, when you are changing your passwords, choose strong or long passwords. If you must, create different passwords for log – in and your transactions.
Subscribe for mobile notifications: It may seem like a nuisance to get constant alerts, but it will actually work to your benefit, especially if you get an instant notification if any suspicious transaction occurs. Whether the transaction exceeds the specific limit or within it, you will be aware of how much funds is remaining in your account. Additionally, you will also get alerts if there are any unsuccessful login attempts to your net-banking account.