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What Should I Know about Online Banking Security?

It's important to check a site's URL for a https to know if it's safe to share banking information.
Changing online banking passwords regularly may help prevent internet banking fraud.
Though online banking is convenient, depositors should educate themselves on the security features offered by their particular bank.
Article Details
  • Written By: Nychole Price
  • Edited By: Bronwyn Harris
  • Last Modified Date: 04 July 2014
  • Copyright Protected:
    2003-2014
    Conjecture Corporation
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Online banking is convenient, but not always safe. Hackers and scammers have learned numerous ways to access online banking users personal information to steal their funds. There are several things that you should learn about online banking security before you manage your account online.

Basic online banking security means using a password. Some people are tempted to use a password that is easy to remember, and may use the same password for multiple accounts. Unfortunately, seasoned hackers can figure out these passwords very easily. If the same password is used for multiple accounts, they can access each one, making it easy to steal your money, and identity. Choose passwords that are a combination of letters and numbers, without a special meaning.

Use a pop-up blocker to improve your online banking security. Pop-ups, when clicked on, may install spyware, or even worse, a hacker's software program. Your personal information will become available for the hacker to access. This will include all your online banking information and passwords as well as other personal information you have stored on your computer. Scammers commit identity theft in this manner on a regular basis.

Upgrade to the newest version of Windows® when it becomes available. The newest version will have updates that improve your online banking security. There are new pop-up blockers, spyware blockers, and firewalls. It may be frustrating to learn the new Windows® systems but it is worth the protection you receive.

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Purchase the McAfee® security programs. Most new computers come installed with the basic version, but if possible, upgrade to the version with total protection. This software comes with anti-virus, anti-spyware and anti-phishing programs, a website safety ratings feature and an anti-theft encryption software. This makes it very difficult for scammers to access your personal information.

When using a laptop to conduct your personal banking, stay away from public hot spots. Your connection can easily be intercepted, allowing hackers to access your bank account information. Online banking security depends upon a secure connection, either with wired Internet access or your own secure wireless Internet connection.

As with any other method of banking, keep an eye on your transactions for anything that looks out of the ordinary. If you aren't sure of a transaction, investigate it. Contact the company where the transaction was made and ask for the receipt. If you didn't make the withdraw, contact your bank to change your account information and file a claim.

Online banking security is possible if you are aware of what is going on with your account and computer security features. Don't let Internet security features lapse. New upgrades are being made to online safety features and you should remain on top of it. Most computers will prompt you to install the newest versions. All it takes is a click of the mouse and a couple minutes of your time.

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