It's more important than ever to take steps to keep your bank account information secure with hacks and data breeches making headlines almost every week.While your bank keeps your information safe, it's important that you also take action to safeguard this information and protect your account information from falling into the wrong hands.
Step 1: If you have checks in your account, don't write them.
While once the most common method of paying people or merchants for purchases, every check that is written contains everything needed for a fraudster to compromise your account, including your name, account number, and bank routing number.Pay other people when you owe them money with a P2P service.Many banks give this service for free.If you want to pay merchants with credit or debit cards, use them instead of writing checks.If your bank account is lost, stolen, or compromised, the account number on your credit and debit cards can be used to replace it.If you want to make recurring payments such as your mortgage or rent, you should sign up for electronic payments.
Step 2: You can sign up to receive electronic statements.
Paper statements are still at risk of being lost in the mail, even though your account number is masked on your statement.You can reduce the risk by getting electronic statements.Most banks offer this service for free.Signing up to receive your statements electronically can help you avoid paper statement fees.You can learn how to sign up with your bank.
Step 3: Old documents should be shredded.
You don't have to keep your bank account statements forever.You can get old copies of statements from your bank for several years if you need them later, or you can access them through your online banking.
Step 4: A safe or locked drawer is a good place to keep documents that contain your account information.
If you have paper statements that you need to keep, or even your account agreement from when you opened the account, keep them in a safe place.
Step 5: There are security questions for online and mobile banking.
If you fall into the trap of using the same password for multiple logins, your account will be more vulnerable to fraud.If your bank has them, use them.Finger print or facial recognition are included in biometric logins.As fraud trends continue to rise, banks are increasingly relying on facial recognition.
Step 6: It's never a good idea to give your bank account login information to anyone.
Unauthorized activity can be opened if another person has your login information.Your bank will not need to ask for your login information because they already have it on file.Some people will pose as a bank employee in order to get your account information.Call your bank if you suspect this is happening.This is likely a scam if law enforcement asks for your information.If police or other agencies need to contact you directly, they will subpoena your bank for this information.Do not give your login information to your spouse or significant other even if you have a joint account.Each joint account holder should have their own login information so that it doesn't need to be shared with anyone else.
Step 7: When you're not using your phone or computer, keep it locked.
If possible, use a Biometrics lock for your computer and phone.If you don't want to use traditional passwords or password locks, consider using a traditional one.By using these features, you are adding another layer of security to your bank account information.
Step 8: Coffee shops, airports, and hotels are places where you should not access online or mobile banking.
When you use these types of connections, your information is more at risk.If you need to access your account information, you have to use cellular data.If other people know your online banking password, they may be able to steal it.