Look for Two-Factor Authentication
When deciding where to do your online banking, look for an institution that uses two-factor authentication. Two-factor authentication requires two pieces of information, often a password and a PIN, when logging in. If one of these pieces of data is stolen, criminals still won’t be able to get into your account unless they also get the other piece.
Create a Strong Password
Both people close to you and computers far away may try to access your financial accounts without your permission. Therefore, your password should be difficult for friends and family, and computers to crack. A good password will be long, include lowercase letters, uppercase letters, numbers and special characters, and it won’t be an easily guessed phrase.
Use Different Passwords
The password you use for your online banking accounts should be different from those you use elsewhere. Criminals frequently hack small, less-secure sites, such as forums and membership sites, to steal passwords. If you have a unique password for banking, you won’t have to worry even if your information on another site is compromised.
Beware of Phishing
Phishing is a technique where unscrupulous criminals send out an email that’s made to look like an official communication from your financial institution. These emails are meant to trick people into going to a site that looks official – but is fake. If information is entered into such a site, thieves can use it to access your actual online checking account or other accounts.
You can avoid phishing attempts by calling your financial institution about any emails that you’re suspicious of. At Oklahoma Central Credit Union, we’d much rather have you call us about a legitimate email than accidentally click on a fake one. Whenever you receive an email from us, feel free to call 918-664-6000, option 8. One of our member services representatives can let you know whether an email is truly from us.
Use a Secure Connection
You should only conduct online banking transactions over a secure, encrypted connection. In general, try to avoid logging in from public, unsecured hot spots.
Set Up Notifications
If your financial institution offers notifications, take the time to set them up. If there is suspicious activity on your account, such notifications will let you know immediately. You can then either validate legitimate transactions or let your institution know that the transactions aren’t authorized.
If you are an Oklahoma Central member, you can sign up for email and text alerts in online banking, under the "Additional Services" tab.
It’s generally very safe to bank online. As with all forms of banking, though, there are some basic precautions to keep in mind. Follow these six tips for safer online banking, and you’ll greatly reduce any risk of having your accounts compromised.