There’s nothing wrong about being mistrustful about anything, when it’s related to money management. In this modern era, there are digital thieves who can steal credit card numbers using different kinds of tricks. Online banking is only as secure as the way you manage it. With proper management, online banking services can actually as safe as or safer than traditional banks. With traditional banks, you can be exposed to various security threats. Thieves may intercept banks statements and bills. It is also important to safeguard various details, such as social security number and account number. Security should be made as top concern. Here are layers of protection that you should use with online banks:
1. Password: This is the basic protection, but can be seen as among the most essential. Although password authentication alone is no longer enough to safeguard your online banking account, it is still critical. There are various methods to safeguard your password, such as creating passwords that are difficult to replicate, but still easy for you to remember, so you don’t need to write them down.
2. HTTPS protocol: HTTPS is a secure version of the regular HTTP standard. Online banking pages should always use HTTPS protocol to add another layer of security. It means that data that’s transferred to and from a HTTPS page will be encrypted. As an example, password and username information is often sent as plain text, but it will be nearly impossible to read, if it’s encrypted. With encryption, hackers won’t be able to access your personal information, especially through keystroke logging.
3. Transaction numbers (TANs): TANs is another step in securing your website. It’s a popular method for online banks. In essence, TANs are passwords that are valid for only a single session. Even if hackers can steal TANs information, it will be unusable in a short time.
4. Integrated Circuit Cards (IC Cards): These cards are also known as smart cards or chip cards. They are popular among many online banks and unique to many customers. Transactions using IC cards are easy to do and require minimal intervention from people. Chip cards contain digital certificates that are securely encrypted, along other important information. They can also be combined with biometrics information to provide two-factor authentication.
5. Digital certificates: When choosing online banks, make sure that they use digital certificates. With virtual certificates, banks can authenticate your digital information, especially when you use multiple devices to connect to your account, such as smartphones and personal computers. Digital certificates are used in many big banking companies and they are relatively common.
When choosing an online banking service, you should read their security procedures and policies. These should be prominently posted on your website. Before choosing a bank that you trust, you should browse their information. If you have further questions, make sure that their staff is able to reply promptly.
If you think that wills are only necessary if you are wealthy, you may need to take a closer look at the many benefits of a will. A will provides you with a legal way to ensure that your wishes …
June 18, 2019|Money & Finance|