6 Tips How to Bank and Transact Safely

banking-security-tips

Can anything be more important than online safety especially when it comes to banking? Of course, not. You can’t use anything of what technology and innovation have to offer, if your funds are not protected and you don’t get the security you need. Nowadays, strong passwords still do a good job, but are far from enough.

Here are 6 useful tips we summed up to help you improve the security of your money:

1.       Open a bank account that has two-factor authentication

What is a two-factor authentication? The two-factor authentication (also called 2FA and TFA) is an additional layer of security which requires you to enter an extra passcode (one-time password) when performing different operations, i.e. log in, money transfers, change of personal details, etc. The passcode is temporary and is sent to you via text message or generated from a gatekeeper app directly in your smartphone.

2.       Activate account notifications

Enable real-time notifications to be sent to you, so you can easily monitor the activity in your account. In case of an unauthorized transaction, make sure to contact the customer support at your earliest convenience.

3.       Modify your debit card settings to allow or block certain transaction types

You can control the types of payments you make using your debit card. For example, if you’re not travelling abroad, you can block all international card transactions. You can also block cash withdrawals, online purchases and payments at merchants and then unblock them at any time and at your own convenience.

4.       Set transaction limits

If you have debit cards issued on the names of family members and linked to your bank account, you can set transaction limits to control the spending. You can set limits for single purchases, or set maximum allowed daily, weekly or monthly spending amounts.

5.       Lost your card?

There’s always a risk to forget, or lose your debit card, or to have it stolen. The easiest, quickest and most secure thing to do in such cases is to block your card directly from your online or mobile banking and then contact customer support. This will ensure that no one who might have found or taken your card will be able to use it.

6.       Phishing risks and what to do

Phishing is a type of online attack used to steal personal information and bank or card details. The best way to avoid becoming a victim of phishing scam is to not respond to any emails asking you to give out any of your personal or bank information.

And in conclusion, whenever you need to bank from your laptop or your smartphone, make sure to use only encrypted wi-fi connections. To find out more about all the different ways Satabank protects your account and money, click here.

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