We’re all concerned about our safety – our physical safety, as well as the safety of our online information. Or financial info is particularly of concern because a lack of protection in this department could spell serious problems.
With so much of our lives moving into the digital space, including our finances, it’s only natural to start wondering and even worrying about whether our information and our hard-earned money are really safe.
Here’s what you need to know.
Physical Safety
First of all, banks are incredibly well-protected institutions. The physical bank locations typically work with reliable security companies like Genetec for security on their physical premises to protect physical assets and customer data.
Their security protocols typically involve access control, video surveillance systems, alarm systems, and intrusion detection systems on the premises. Overall, you can rest assured that you’ll be safe visiting a bank and that the risk of your data being compromised on-site is low, but remember that you should always take care to comply with any regulations and security protocols in place.
Secure Your Passwords
We always want to ensure we’re using secure passwords, even if it’s just for our social media accounts. However, your banking information is even more important, and you need to be really intentional when it comes to setting up these passwords.
Try to come up with a secure and memorable password for your bank account that is completely different from the ones you use on other accounts. This helps to ensure your banking profile is still protected even if your usual password ends up in a data breach. You should also avoid using personal details like your birthdate as your password, as this can be easy to guess.
Use Two-Factor Authentication
Another way that you can ensure the protection and security of your financial information is to use two-factor authentication on your banking profile. This will require that you need to put in a password as well as provide another means to validate your identity before logging into your account.
Typically, this will be in the form of a code sent to your cell phone number, email address, or an authentication app on your device. This adds an extra layer of protection because even if someone accesses your password, they won’t have immediate access to your account.
Monitor Your Accounts Regularly
Despite the fact that your bank account is secure and protected by the institution itself, you should still take responsibility to monitor your account and the transactions that take place within it. There are always going to be certain risks involved in keeping your money in a bank, it’s important to watch out for anything going amiss.
Take a few minutes every month to look out for suspicious transactions on your account. These might be the result of your card being replicated, or you may have fallen victim to phishing or other financial scams. If you notice strange transactions, report them to your bank immediately.
