Last Updated on March 8, 2021
Online banking is a simple, useful, and convenient service provided by almost every bank entity. Most people already use this service daily – and as time goes by and technology evolves, it will likely become the norm. That’s right. Traditional banking might become obsolete in the near future. Currently, there are even a few banks operating exclusively in the digital space. And yes, you can fully trust online banks. However, like everything you do through an internet connection, it also has its risks. But don’t worry. As long as you know how to minimize the vulnerabilities that can be exploited by internet scammers, your bank account should be perfectly safe. Here are some crucial online banking safety tips that everyone should know!1. Be careful with your password
Make sure you choose a strong password when setting your online bank account. There are three main rules you should follow in this regard:
- Your password should include letters, capital letters, numbers, and symbols. The more complex, the better. It should also be completely random, which means that you shouldn’t include any common word.
- Your password should be different from all your other online accounts. This way your bank account won’t be compromised if a hacker gains access to a password from another account of yours – online banking security measures are much more sophisticated and refined than most other online services.
- Your password should be frequently changed. If this sounds too overwhelming to you, use a password manager like 1password or BitWarden. The latter is free and offers a lot of valuable features. For example, you can make it generate a random, highly-complex password every time you need one. You can find out more about both software on their official websites.