6 Key Ways to Keep Your Financial Information Safe With Online Banking

Online banking and mobile banking offer the convenience of everyday financial transactions at your fingertips. You don’t have to drive to the bank, you receive alerts when a transaction occurs, and you have complete control over your online accounts.  In today’s blog from Foundation Credit Union, we discuss six key ways to keep your financial information safe with online banking and monetary transactions.

1. Connect to Secure Networks Only

When accessing your online banking accounts, use only secure networks that you trust. Avoid public Wi-Fi networks. Use your home’s private network. If you connect with a smartphone, the cellphone tower that connects to your phone is also secure.

2. Look for the Security Icon

One way to know that you have a secure connection is by looking for the padlock icon in your browser when utilizing online banking. If the connection is secure, the padlock will appear in the locked position. An unsecured connection looks like the padlock is unlocked. You may also see a warning that the connection is not secure in large, red letters. Never transmit your private information if your connection is not secure.

3. Use Strong, Unique Passwords

Cyber thieves like to hack insecure assets at their weakest point using high-tech tools. Create login credentials that have strong, unique passwords that are hard to figure out. Use a password that is at least 10 characters long, with a combination of lowercase and capital letters, numbers, and symbols. Don’t use something that’s easy to remember, like “Iloveyou”. Instead, consider something like “GeP*wN5@L9s” or longer for online banking.

4. Employ Text Alerts

Text alerts keep you up-to-date with financial transactions and balance amounts with online banking. Every time your account has a deposit or withdrawal, you should get a text alert. If something seems amiss or you didn’t authorize a transaction, contact your financial institution immediately.

5. Look for Two-Factor Authentication

Two-factor authentication helps prevent hackers from using automated tools to break into a secure account. Your password is usually the first step to authenticate who you are, but you should consider adding a second layer of authentication. 

The second step in two-factor authentication may include:

  • Four-digit PIN
  • CAPTCHA authentication to identify photographs
  • Security question, such as “Mother’s maiden name” or “Childhood pet’s name”
  • Security code sent to your cell phone via text or email
  • Fingerprint or facial recognition

The overall goal here is to authenticate who you are to a computer system. Talk to Foundation Credit Union about how we protect your online banking security through our authentication measures.

6. Use Financial Institutions and Payment Methods With Robust Security Measures

Make sure your financial institutions and payment methods have robust security measures in place. Foundation Credit Union utilizes best practices when it comes to securing your financial transactions for online banking. If you have any questions, we’d be happy to answer them!

Secure Online Banking at Foundation Credit Union 

Foundation Credit Union offers appropriate security measures when it comes to online banking. We are dedicated to keeping your transactions safe and secure! Contact Foundation Credit Union or call (417) 895-2770 for more details.


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