Ways To Protect Online Bank Transactions
Everything is online these days. From booking holidays, to chatting to friends and to balancing your bank account. It is all through the internet and from your phone.
Online banking is becoming more popular as the world goes digital. As smartphone usage has increased, so has the convenience of online banking, allowing customers to do their business virtually anywhere. In this regard, online banking mostly requires us to provide our phone number that we probably share too with other social media apps. So what’s the catch? We are being more vulnerable to cybercriminals as our private information is sometimes available on the internet.
There are a few ways we can protect our online bank transactions to make the most of the safety features offered, and that’s by using our phone number for online banking.
Ways to protect online bank transactions?
- Two-step authentication adds protection to online banking with a phone number. Before a transaction can be finalised, the bank will send a verification code to the user’s registered phone number. This prevents unauthorised users from accessing and transacting on the account.
- Never give out the verification numbers you get by text message to anybody else. Sharing these codes could give unauthorised users access to your account because they are designed to be used only by the account holder.
- Protect your online banking account with a complex password and never use that password for any other online service. Even with your login details, hackers will have a harder time accessing your account.
- Utilise VIP services to ensure the safety of your phone number. When you use a VIP number for website authentication, online activity, or even dating apps, you add an extra layer of protection while keeping your personal information hidden.
- Lock your phone down with a PIN or biometrics like a fingerprint or facial recognition. Because of this, no one else will be able to access your phone or utilise the verification codes sent to it.
