Many Filipinos are now banking online. Gone are the days when people needed to go to the bank branches and wait in long lines to take care of their finances. All you need is a computer or mobile phone. Just like that, you can pay bills, transfer funds, and check balances in the comfort of your home.
While it is more convenient and hassle-free, online banking is prone to cyber-attacks like hacking and phishing. The best thing to do is to stay vigilant and learn how to keep your account safe and secure.
How can you protect yourself when online banking? Here are a few tips and reminders:
First things first, safeguard your IDs and bank statements. Refrain from posting pictures of your debit cards or passbooks on social media. Scammers can use these details to access your bank account. Or worse, steal your identity! If you’re planning to write down information like usernames and passwords in a notebook, keep it in a safe place.
Using Wi-Fi in public places can be risky. These networks are often not secured, which can be easy targets for hackers. The next time you plan to log into your banking account online, connect to a secured network like your Wi-Fi at home, or if in a public place, using your phone mobile data.
Yikes, not your birthdate! Otherwise, you are making it easier for hackers to guess your password.
Create strong passwords that combine uppercase and lowercase letters, numbers, and special characters. You can also use random password generators or password managers. It is up to you! The goal is to make your password as unique as possible.
Some banks will require you to change passwords every 90 days or so. With cybercrimes rising in number, it is a way to increase the security of your account. Just make sure you will not forget the password after.
What is two-factor authentication? It is a security process where you have to verify your identity. It can be through a fingerprint scan or a One-Time Password (OTP) sent to your phone. This means, even if hackers know your password, they still need a code to get into your account. That is extra security for you!
Be wary of unexpected calls from persons pretending to be bank representatives. Chances are, it is a phishing scam, especially if they are asking for your personal and bank account details. Just in case this happens, do not share any information. Call your bank directly to verify the call.
Another thing you can do is sign up for email and text alerts to get notified of every transaction involving your account. You may report any suspicious activity, so the bank can take immediate action.
At the end of the day, you want to make the most of your online banking experience. Keep yourself informed and learn how to protect yourself online with these tips!