Whether it’s paying bills, transferring funds or opening a deposit account, internet banking offers a host of quick and convenient alternatives to conventional banking process. Gone are the days of standing in long queues at the bank—most transactions can now be completed with just a few clicks. However, this ease of access comes with its portion of potential security risks, particularly phishing attacks, where fraudsters attempt to steal your confidential banking information.
While banks are continuously upgrading their security systems, cyber-criminals are also becoming more sophisticated in their tactics. If you frequently use online banking services, it’s crucial to stay alert and adopt safe banking practices. Here are some essential safety tips to help you stay protected while banking online.
Safety Tips for Net Banking:
1) Use a Strong and Unique Password:
- Create complex passwords using a mix of letters, numbers and special characters.
- Avoid using obvious data like birthdays or names as your password. Remember to change it frequently and
- Keep the password confidential at all times and do not share with anyone under any circumstances.
- Use the first-time password given by your bank and then change it as per your preference.
2) Enable Two-Factor Authentication (2-FA)
- A recent feature that can be a great safety tip for net banking is the two-factor authentication, which adds an extra layer of security. Two-factor authentication requires a second form of verification, such as a text message or authentication app code. This makes it more difficult for hackers to breach the security and avoid loss of data.
3) Avoid Public Wi-Fi for Net Banking
- As per popular opinion, public networks are known to be insecure, unreliable and easily susceptible to being hacked and intercept data. It is always advisable to always use a secure and private network connection for your phone and net banking transactions.
- Avoid logging in to your bank account at public use computers, such as in cyber cafes or open libraries. Since these are crowded places, there are higher chances of your password being traced or seen by others.
4) Beware of Phishing Frauds
- Never click on any suspicious link or open any email attachment which seems unfamiliar, or from an unknown source.
- Banks will never ask for login credentials via email or phone so be careful when you receive a random text message or link, it may be a potential scam to take away your money.
5) Monitor Your Account Regularly
- In order to be safe and protect your money, every account holder must check the account statements periodically.
- As a vigilant person, one must monitor the transaction history to spot any unauthorized activity and report to the bank authorities if required.
6) Always use Licenced Anti-Virus Software
- An important safety tip in the process of effective net banking is protection of your computer from new viruses.
- One must always use licenced anti-virus software, as the cheap and pirated versions may be available easily, but fail to protect the device from new viruses prevalent in the online world.
- In addition, enable the notifications for regular updates in the software system. Make sure with the latest updates installed, the confidential information remains protected.
7) Timely Log Out & Disable Internet After Use
- Most broadband users forget to disconnect the internet connection on their device when they are done with the net banking activity. Cyber hackers can access your computer via an internet connection and steal your confidential information.
- Always log out of your banking session when finished, especially on shared or public devices.
- To keep your data protected, ensure that you disconnect from the internet positively, when there is no requirement.
8) Use Official and Verified Websites
- One of the most important things to remember while carrying out the net banking transaction is that login must be done through official and verified bank website only.
- There are clones and duplicate sites floating around in the market, and in order to avoid being scammed, access via government approved and official channel sources.
- You can verify the website URLs and download apps from trusted sources like the Google Play Store or Apple App Store or visit the nearest banking branch in case of a dispute or query.
9) Register for Notifications & Alerts
- Most of the banks in today’s times offer account notifications through e-mail and SMS, whenever any transaction is made.
- Make use of this facility and register the linked communication number to receive alerts for every debit and credit transaction. This will make it easier for you to monitor the transactions and notify in case a fraudulent activity has been done without your consent.
- You can then instantly get in touch with your bank to get the account blocked to avoid further loss of money.
10) Do Not Bookmark Bank URL
- Rather than following any pre-saved or bookmarked links for online transactions, it is advisable by the banks itself to manually type their net banking URL in the address bar of the browser.
- Once you reach the online banking page of your bank, check whether it has an “https” prefixed in the URL. This indicates that the communication between the website and the browser is encrypted, secure and the website is genuine.
Common Net Banking Tips
Whilst in modern times, both phone and net banking have made our lives really hassle-free, with just a series of clicks complete banking operations can be carried from any corner of the world. However, though net banking offers unmatched and immense convenience, it also comes with its fair share of risks.
Staying informed, alert and adopting simple security measures can go a long way in protecting your financial information. By adopting strong cyber health best practices – such as using strong passwords, enabling two-factor authentication and staying vigilant against scams, you can enjoy the wide range of benefits online banking offers. The perks are definitely applause-worthy, and the advent of latest technological features has made complicated procedures quite automated. But, on the contrary, it has also paved the path for scams and financial cheating to increase rapidly.
Remember, in the digital world, your safety is in your own hand. Remain cautious and stay protected.
FAQs on Safety Tips for Net Banking
1. Should the bank website have https in it?
Yes, any bank website must have https in its URL.
2. Is net banking safe and reliable?
Yes, net banking is a safe and secure mode of online banking.
3. Is an anti-virus software important for net banking?
Yes, a licenced anti-virus software is important to protect your device during net banking.