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Three Tips for Safer Online Banking

October is Cyber Security Awareness month. As online banking has become a popular choice of paying bills and buying goods in this fast-paced world we live in, it is a good idea to be well-informed on how to protect your information from getting into the wrong hands.
Follow three tips below for keeping your financial information safe:

  1. Beware of how your Financial Institution communicates—Most banks only use email for advertising purposes. If you receive an email that appears to be from your bank asking for personal information, contact your branch right away. If your bank or credit union suspects any unusual activities with your accounts, they will phone you.
  1. Update software to add extra security—One way to protect your information is to make sure that your computer antivirus, spyware and firewall is current. If you don’t have spyware or antivirus protection, some companies offer free versions for personal use. Most banks want their customers to have confidence in online banking so they may offer a free software called Trusteer. Trusteer is a software that helps identify authentic websites with a green indicator to the right of the address bar.
  1. Say NO! to auto-fills—It seems like every website you go to nowadays offers to remember your username and password so you can get connected quicker. Make it a habit to remember both your username and password for secure websites.  It might seem harmless to just have your username remembered, but what happens if someone knows you well and was able to guess your password?

If you remember to practice these three pieces of advice, you will keep your information more secured and have less worries.
For more information regarding banking and other money topics, register for Momentum’s free Money Management workshops.  Check out this testimonial for our Banking workshop created by one of Calgary Catholic Immigration Society’s (CCIS) Language Instructions for Newcomers (LINC) classes.

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