If you are like most people, you complete a number of transactions online. And while for the most part, these transactions are safe, there are a number of precautions that should be taken to assure both your money and personal information is secure when online. The following tips come straight from the minds of leading security and privacy experts and will provide you with the insight to protect your finances when shopping and banking online.
Use Accounts Backed By The FDIC
Online bank accounts often provide users with superior rates for savings accounts. However, before opening an account, you should make sure it is backed by the FDIC. This means the money you deposit into the account will be protected up to $250,000. This Is very important when trying to save money, realizing that things happen and the best thing you can do when life happens is be prepared to bounce back. If not prepared your life can be tossed upside down right before your eyes, which is something no one wants to go through but many do.
Check App Security
Many apps are available for download on computers and tablets that make shopping and banking more convenient. But you should first make sure all security protocols are in place. Most banking apps will possess high levels of security that can be confirmed by users. If you have any doubts about the security of a particular app, you are better off erring on the side of caution and not using it. This very important, if you feel like your skill level or the app is to complicated to use, being without the app will prove to be better. Apps are suppose to make your life safer not harder, so be careful who you give information to because not all helpers are truly helpers and your information could be taken.
Bypass Websites That Look Sketchy
Poorly designed websites that cause multiple popup windows are a good indication something is not right with a retailer. To be safe, do business with retailers with name recognition. And when doing business with a smaller company, make sure a secure form of payment like PayPal is available. Remember the internet is a huge place and it’s one of the best places to get hacked and lose alot of your money. doing caution checks for checkout security and like said above payout providers like Paypal are best to use. It allows you to be secure while make purchases from places you never made purchases from.
Avoid Hyperlinks in Emails
Including hyperlinks in emails that then lead to requests for personal information is a common tactic of scammers who are trying to find your IP address and take information from you. Many people fall victim from these links because they think it can be trusted, scammers often disguise these links in emails that look official. The recommendation of the Better Business Bureau is to ignore emails that contain these hyperlinks.
Don’t Shop On Open Networks
Shopping with a phone or mobile device while using an open network is a potentially dangerous habit. The information on networks such as those used in airports and coffee shops can be accessed by others. You should wait until a secure network is available to you to do your shopping so that hackers aren’t able to get a hold of your information and use it against you .
Passwords are requested by most retail sites when it is time to check out. The use of one password for multiple accounts increases your risk of having the password compromised. You should use complex passwords for important accounts that are not likely to be guessed. It would be a good idea to add a password to your mobile phone in case you ever lose it. It is likely a great deal of important information on your phone that could be used by a dishonest person.
Review Paperwork Regularly
You should review bank and credit card statements each month to assure no errors are present. It is also a good way to check for fraudulent activity on your account. Alert your banking institutions immediately if there are any charges to your account that are incorrect.
The Bottom Line
Online banking and shopping is a large part of the lives of many consumers. While fast and convenient, there are some safety precautions necessary to take when doing business of any kind online. The seven tips above will prove useful at keeping your money safe online.