7 Safe Online Banking Tips You Must Know
31 Jan 2020
Indian banks are gradually edging toward having most of their processes online. From sending money to paying bills and even investing, stepping away from traditional methods has become necessary. Though almost half of India’s population have accepted the change to online and mobile banking , many are still hesitant. The main concern is internet safety, which is valid; however, it shouldn’t hold anyone back from transacting. Here are safe online banking tips you can follow to enjoy a seamless and convenient banking experience:
It All Begins with Your Passwords
The cardinal rule for transacting online or via your smartphone is, you must have a strong password and change it regularly. This is one of the most critical and necessary safe internet banking tips. Use random numbers, symbols and letters that only you will remember. Most banks will recommend a combination of all three and some will even prompt if your password isn’t strong enough. Using upper- and lower-case letters help too. Stay away from familiar things like birthdays, names, house numbers etc. Finally, do not share your passwords with anyone, no matter what. Your passwords are unique and meant only for you.
Do not save passwords / credentials on browser and/or any apps for login.
Keep a Close Watch on Your Accounts:
Monitor your accounts’ activities frequently, especially if you transact a lot. It is one of the few tips for safe internet banking of which we become careless. You have to check your bank balances and monthly statements for any debits that appear suspicious. Reach out to your bank in case you find such or similar transactions.
Use a Secure Internet Connection
To prevent anyone from misusing your private information, one of the safe online banking tips is to use a secure, internet connection. Make sure that the wi-fi is password-protected and not free; if you’re travelling, connect with your smartphone’s hotspot. You can even choose a private browser to access your bank’s netbanking platform.
Get Notified
One of the safe internet banking tips is to turn on your bank’s notifications from your mobile phone. You can also opt for receiving SMS alerts. Many banks allow you to customise notifications and alerts, e.g. you can choose specific triggers like in case your account balance goes below or above a particular limit.
Sign-Out, Every Time
Once your netbanking or mobile banking session is over, remember to sign out. This is one of the tips for safe internet banking that few are aware. Uncheck the ‘Keep me signed in’ box and log out. In fact, as an added precaution, clear your browser history and cache after you log off.
Sift the Real From Fake
Phishing and calling scams have increased over the last few years. Among the safe online banking tips, you may already know of this one. Your account information, passwords, card CVV numbers, OTPs etc. are confidential. Never entertain or answer an e-mail or call that requests for any or all of these details, unless you have initiated the transaction.
Do not click on the any link provided in the email / SMS message etc. Always type the bank website URL in the address link of browser to access your account.
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Disclaimer
The contents of this article/infographic/picture/video are meant solely for information purposes and do not necessarily reflect the views of Bank of Baroda. The contents are generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Bank of Baroda and/ or its Affiliates and its subsidiaries make no representation as to the accuracy; completeness or reliability of any information contained herein or otherwise provided and hereby disclaim any liability with regard to the same. The information is subject to updation, completion, revision, verification and amendment and the same may change materially. The information is not intended for distribution or use by any person in any jurisdiction where such distribution or use would be contrary to law or regulation or would subject Bank of Baroda or its affiliates to any licensing or registration requirements. Bank of Baroda shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information mentioned. Please consult your financial advisor before making any financial decision.
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A Complete A-Z Guide on UAN Number
The UAN full form is Unique Account Number. It is a 12-digit code that helps you access your Employee Provident Fund (EPF) account. The UAN can help access various services linked to your EPF account such as checking your PF account balance, applying for a PF loan or withdrawing money from your PF account. It is assigned to you by the EPFO (Employee Provident Fund Organization) through your employer at the time of subscription. The UAN remains the same regardless of the jobs you change and hence, it can help you get independent access to your provident fund account. Whenever you change your job, the EPFO generates a new EPF account ID and links it to your UAN. This way you do not have to create new PF accounts every time you switch your job and enables you to view and reconcile your EPF account history quite conveniently.
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