Your online banking information is like the front door to your finances, so naturally, you want to keep out intruders and unwanted visitors. Online banking is one of the most convenient ways to manage your finances at home or on the go, saving you the time and trouble it takes to go to the bank in person. However, one of the challenges of online banking is that your information could end up in the hands of hackers or thieves. Fortunately, when you work with a reputable bank that uses robust security systems, banking online can be just as secure as in-person banking.
Generally, online banking is secure. Though there are still isolated incidents of data breaches at banks, most banks utilize robust security features to ward off financial fraudsters. There are many ways to protect your online banking information, starting with choosing a financial institution that takes online banking security seriously.
Does your bank’s online banking offer these features that Seacoast does?
The security features your bank or credit union uses can help protect your online banking information. But how do you know which banks have the best safety features and what to look out for? To promote better online banking security, Seacoast helps keep your accounts safe with 24/7 account protection to deter unauthorized users.
Your bank account is most likely to be compromised when a cybercriminal or other unauthorized individual gets access to your username and password. Multifactor authentication and biometrics help stop this threat at the source, so even if someone does manage to get their hands on your login information, you’ll have a second layer of security to protect your funds.
Seacoast uses behavioral analytics-driven security monitoring to stop suspicious transactions and keep your accounts secure. Our team’s 24/7 fraud protection means we patrol accounts around the clock, and with customizable alerts, you can get up-to-the-minute notifications on any account activity.
Business banking clients at Seacoast can manage employee access to accounts for mobile and online logins. Businesses also have the flexibility to control user access based on the employee’s role or by individual user.
Seacoast’s Positive Pay allows you to quickly and easily monitor your business' banking activities online, increasing your protection against unauthorized transactions. This tool compares payments presented to payments issued to mitigate financial losses by flagging fraud, confirming authenticity and blocking altered or counterfeit payments.
Your personal computer can act as the gateway to your personal information, which is why protecting it – and the information it holds – should be a top priority.
You might be tempted to connect to public Wi-Fi at a restaurant, hotel or airport, but if you want to protect your online accounts, you’re better off avoiding it altogether. Public Wi-Fi networks may not be secured, which hackers can take advantage of to steal your personal information. If you must use public Wi-Fi, make sure to look for a secure network and use a virtual private network (VPN).
To protect your personal computer, always log out to prevent others from accessing your information. Even if you’re only gone for a couple of minutes, it doesn’t take long for bad actors to steal your information if your computer is unlocked and easily accessible. Whenever you’re not using your computer, make sure you log out, or at the very least, lock your screen.
Updating your software might seem like little more than an inconvenience, but keeping your software up to date is one of the best ways to protect your computer. Cybercriminals aim to exploit weaknesses, which they can sometimes find in your software. Many updates to your software and operating system focus on improving security, with certain updates – known as patches – addressing security issues exclusively.
Anti-virus and anti-malware software work behind the scenes to help keep your computer clear of unwanted programs and emails. These apps are constantly on the lookout for dangerous programs, websites and emails, notifying you of potential threats and, when possible, removing harmful software such as viruses, trojans and other malware.
With millions of apps available, it’s easy to find a program that does what you want. Unfortunately, nestled among the many apps you can download on your computer or mobile device, are fake or malicious apps. These apps can collect your data or even try and phish for banking information by displaying fake login pages. Before you download an app, make sure to check the developer’s name, read the reviews, look at the app’s permissions and make sure the developer has a valid support email. Another way to help protect your phone from malicious apps is to use financial protection apps, which can mask and safeguard your personal information from fraudsters.
Secure digital banking starts with a reputable bank that uses encryption, multifactor authentication and other safety features, but also relies heavily on you as the user to safeguard your account. Here are some online banking tips that can help you defend yourself from fraudsters.
If you bank on your phone or tablet, you want to make sure you take all the same precautions as you would when you bank on a computer. That means verifying the app and its developer before downloading, staying logged out when you’re not using the app, keeping your device locked when it’s not in use, updating your software and never clicking links in emails or text messages from unknown senders.
Multifactor authentication provides additional layers of protection that can help secure your account if someone steals your password. In many cases, the second layer of security is even harder to steal, since it might require biometrics (i.e., your fingerprint) or access to the phone whose number is linked to the account.
A strong password can help keep hackers at bay, making it much more difficult for them to break into your account. To create a secure password, aim for a minimum of 12-14 characters, and use a unique combination of uppercase letters, lowercase letters, numbers and symbols.
Most banks and credit unions have online banking alerts, which can notify you of certain types of activity on your account. These notifications can help prevent fraud by flagging unusual activity and alerting you to things like large transactions or low balances. If you don’t already have online banking alerts on your account, make sure to set them up as soon as possible.
Phishing is by far the most common starting point for hackers, with more than 90% of all cyberattacks beginning with phishing. Phishing is when cybercriminals fraudulently pose as a legitimate company, institution or other organization in an attempt to steal sensitive information.
Phishing is so dangerous because it takes advantage of people’s emotions and tricks them into voluntarily clicking on links or sharing sensitive information. The strongest password isn’t much good if you accidentally hand over your login information in a phishing scam. That’s why it’s up to you to stay vigilant and make sure you avoid visiting unencrypted sites, downloading any suspicious apps or clicking links from unknown email addresses or phone numbers.
Here are some common phishing scams you should keep an eye out for:
Are you prepared to fight off phishing attacks?
The American Bankers Association’s Banks Never Ask That website can help you prepare yourself and keep your accounts safe. According to the site, the five red flags of phishing are:
The best way to keep your bank details safe is to keep them to yourself, set a strong password that you change roughly every 90 days, use multifactor authentication and exercise caution when banking online.
The best protection for online banking is prevention, which means keeping your account information safe and constantly monitoring for any signs of fraud.
Online banking is generally very secure, as long as you use a strong password, never open links or attachments from unknown senders and avoid using public Wi-Fi or shared computers.
Topics: Protect Your Finances
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