Banking transactions have become more convenient due to current technology. All banking services are now available in the pocket and fit on the fingertips of every customer but on the other side frequency of banking frauds has increased significantly. Through this blog, I am sharing some important Internet banking guidelines that will help you stay safe.
Banking services in the country have become more accessible because of contemporary technologies and government and bank initiatives. According to a survey, over 80% of Indians currently have a savings account. While the number of people with bank accounts has expanded significantly in recent years, so has the number of banking frauds.
There are currently various ways for a client to be fooled, including identity theft, phishing, vishing, skimming, and a variety of ATM malpractices. If you are worried about banking security, here are few safeguards that every consumer should take.
Internet Banking Safety Precautions
Security of Debit and Credit Cards
Debit and credit cards have made life much easier for us. However, there are a few things to remember in order to utilize them properly and securely:
- Change your Debit and Credit Card PIN on a frequent basis.
- When making a transaction, ensure sure your card is swiped in your presence and that you check your card before leaving the store.
- Do not reveal your PIN to anyone.
Protecting Yourself against Phishing and Vishing Frauds
You should be aware of phishing scams in order to conduct secure digital banking. In most of these scams, you’ll get a phishing e-mail or a phone call from someone impersonating as a bank executive, asking for your banking information. These e-mails and phone calls may look extremely similar to e-mails or phone calls from your bank or other well-known internet sites.
Maintaining a Functioning Bank Account
More than 40% of bank accounts in India remain dormant, according to a World Bank analysis. Your bank will label your account as dormant if you haven’t used it in more than two years. Scams and frauds such as money laundering and illicit activities are common objectives for such accounts. Make sure your account should be activated at least few transactions in any financial year as financial security.
Choose the proper PIN and Password with Care
Electronic banking is becoming increasingly popular, particularly among young professionals. If you use online banking or your Debit/Credit Cards for withdrawals or payments on a frequent basis, you should keep your passwords and PINs safe. Choose a difficult-to-crack password/PIN and never store it on your phone or computer.
The Security of Internet Banking
Online Banking has made our life easier, whether it’s moving money to another bank account or purchasing at shopping portals using Internet Banking or your Debit Card. However, there are a few important considerations to make:
- Avoid using a cybercafe or an unknown network to access your internet account.
- After you’ve finished browsing, always erase your history
Conclusion
Banks are constantly working to provide clients with a more secure and convenient banking experience. Customers, on the other hand, must do their part to protect themselves from fraud. Keep the following suggestions in mind for secure banking, and contact your bank immediately if you see anything suspicious activity in your account.
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