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The Internet, since its inception as a complete network of the whole world, has helped the human race in making their lifestyle at ease. It has single-handedly become the source of getting things done swiftly and efficiently. Nowadays, every organization is working because of this effective widespread network, especially the IT and banking industry. 

Online banking has made lives of people easier and brought it at the mere touch of fingers. With so many positives comes some negatives too. Secure online banking is one of the concerns of the majority of people. This article would give you details about the different practices one can consider for a secure online banking practice. 

Methods for Secure Online Banking

Banks have an extremely secure network for their users but everything has a loophole, after all every online network is a set of codes. With cyber-crimes and criminals increasing day by day, banks are on a constant ride to improve their banking gateway channels. Let’s get you all aware about some of the best secure online banking tips.

Choosing a strong password

Passwords are the gateway to your profile and all the important and personal details which are not not meant to be shared. It is generally advisabe to use a password with the specifications mentioned by the banks. Passwords should be a proper mix of upper and lower case letters along with numbers and different characters are extremely hard to crack. This is the most common method which would help you in secure online banking. 

Enable two-factor authentication

Two-factor authentication is something which has recently come in the market for safety standards. But to our surprise, it has worked wonders for secure online banking. It just adds an extra layer of security and just makes the whole procedure of banking much more secure. 

In this, a code which is sent on apps like google authenticator, 2FA authenticator and one has to enter the code within a limited span of time. It works like an unbreakable shield after you enter the password. 

Avoid public wi-fi networks 

Public wi-fi is something that is there for majority of people. It is usually safer when you are connected at a stretch but it doesn’t hurt to proceed to have safer options. Here are some suggestions to keep in mind when connected on a public wi-fi: 

• It is advisable to switch-off the public file sharing option.
• Virtual private networks (VPN) are the best for secure online banking because you enter a private network which no one can access.
• Always keep an eye for the unsafe websites which are flagged by the firewall. 
• Avoid using unencrypted network channels.

Arm’s length with phishing emails

Phishing emails are one of the most unsafe things when it comes to secure online banking. Fraudsters usually use emails to get personal information from users and use it for personal gains. 

Cyber criminals send you emails or links which appear to have come from the banks but in reality they aren’t. They are just a way to get personal information. You should avoid opening or replying to these emails when you haven’t started the conversation. 

Sign-up for bank notifications

Signing up for notifications from the banks for every credit and debit transaction from your account is advisable for secure online banking. It helps you in keeping a track record of activities happening from the account. 

Don’t give one time passwords or codes to a secondary or any third party which you are not sure about. If some untoward activity happens with your account you’ll get an alert from the bank instantly. 

Conclusion

Banking has improved our lives to an extent that no one could ever imagine. Online banking has made all the transaction process easier be it international or domestic. Banks and customers should work hand-in-hand to make everything efficient and secure for both the parties. One should always have a subscription to licensed antivirus software to have secure online banking. Norton antivirus is the one stop solution to all the untoward incident that could and give you a safe room for your banking experience.

FAQs

What are the best security practices for online banking?

First of all, having a strong password is a must and one should not share it with anyone. It is advisable to stay away from all the phishing scams, and it’s better to have a licensed antivirus. 

What are the main security issues in online banking?

Major security issues are usually unencrypted websites, phishing scams, and loopholes in banking servers. 

Is online banking safe using wi-fi?

The answer is Yes only if it’s a secured or private network. It’s better to connect to a VPN while doing online transactions for a good banking experience.