Online Banking Security: Simple Ways to Protect Your Accounts
Mobile and Online banking makes everyday money management incredibly convenient. You can check a balance over breakfast, pay a bill from the couch or deposit a check without making an extra trip across Martinez.
That convenience also makes your financial accounts attractive targets for scammers. Fortunately, good mobile and online banking security don’t require becoming a cybersecurity expert. A few smart habits can make it much harder for someone to gain unauthorized access to your accounts.
Watch Out for Phishing, Smishing and Spoofing
One of the biggest threats to safe online banking may arrive disguised as an ordinary message.
Phishing scams use fraudulent emails to convince people to reveal sensitive information or visit malicious websites. “Smishing” uses similar tactics in text messages, while spoofing can make a fraudulent message or phone call appear to come from a familiar organization or number.
Imagine you’re standing in line for lunch when you receive a text: “Suspicious activity detected. Your account will be locked. Verify your information immediately.” There’s a link underneath.
The urgency is intentional. But don’t be fooled. Instead of clicking, stop and verify the situation independently. Visit the financial institution’s website yourself or call a number you know is legitimate.
Be especially suspicious of unsolicited messages asking for passwords, PINs, Social Security numbers or verification codes. Never send sensitive account information through unsecured messages.
Make Your Password Hard to Crack
Your password is one of the first lines of defense for your mobile and online banking accounts. Avoid short passwords, common phrases and information someone could easily associate with you.
Instead, use a long, unique password or passphrase that you don’t reuse on other websites. If another company’s website suffers a data breach, a unique password can help prevent stolen credentials from being reused to access your financial accounts.
Where available, two-factor authentication or multi-factor authentication adds another layer of protection. This requires more than one credential to access an account, making it more difficult for a criminal to log in even if your password has been compromised.
Practice Mobile Banking Safety on the Go
Your phone can put your finances in your pocket, but a few precautions can improve mobile banking safety.
Protect your device with a PIN, passcode, fingerprint or facial recognition. Keep your operating system and apps updated, and avoid accessing financial accounts over unsecured public Wi-Fi.
Here's a common scenario: You’re at a coffee shop in Contra Costa County and remember that you need to transfer money. There’s free public Wi-Fi available. Don’t use it! Rather than conducting the transaction over an unsecured network, wait until you’re on a trusted network or use your phone’s cellular connection.
These little decisions lead to mobile banking safety and contribute to more secure online banking.
Pay Attention to Your Accounts
Knowing how to protect your online bank accounts also means paying attention to what’s happening inside them.
Review transactions regularly and investigate purchases or withdrawals you don’t recognize. If account or transaction alerts are available to you, consider enabling them. Early detection can be an important part of fraud prevention.
If something looks wrong, don’t wait. Contact your financial institution using a trusted phone number or website rather than contact information provided in a suspicious message.
For SWSFCU members, we’re right here in the Martinez community when you need us. If you suspect debit or credit card fraud, lose a card or have concerns about your account, contact Shell Western States FCU promptly.
Bank Conveniently. Stay Security-Minded.
At SWSFCU, we’re proud to serve our neighbors in Martinez and throughout Contra Costa County while giving members convenient ways to manage their money wherever life takes them.
Ready to make everyday banking easier? Explore SWSFCU online and mobile banking to learn about online Bill Pay, mobile check deposit, digital wallets and more. Sign up for online banking today.
Mobile & Online Banking Security FAQs
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Never share your password, PIN or other sensitive credentials through unsecured messages. Avoid clicking unexpected links asking you to log in, and don’t conduct financial transactions over unsecured public Wi-Fi.
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No digital account is completely immune from risk. However, strong, unique passwords; multi-factor authentication; updated devices; and an awareness of phishing scams can significantly strengthen your identity theft protection and account security.
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Yes, mobile banking can be a secure and convenient way to manage your money when you follow good security practices. Protect your phone with a passcode or biometric login, and keep your software updated.
