My Banking App Has Locked Me Out.; Things to Avoid with Online Banking

Online banking has become the order of the day. There is virtually no type of bank transaction you cannot carry out on via your bank’s app using your mobile device. In recent years, it has practically taken over financial transactions to become an alternative to electronic wallets and digital payments. Online banking has even been declared the safest way to carry out transactions online. However the rapid growth of online banking has also brought about a corresponding increase in cyber crime. Criminals are discovering new ways to compromise bank accounts. To be on the safe side, here are 5 things you should avoid as long as you carry out bank transactions online.

  1. Sharing your password –

It may seem obvious enough, but you will be surprised at the number of people who see nothing wrong in giving out the passwords to their bank apps or online platform. This is actually one of the easiest ways crooks gain access to people’s account. They can call you over the phone claiming to be a representative of your bank and requesting that you give them your password so that they can carry out one update or another. Whether you have money in your account or not, the simple rule is to never share your password or pin with anyone.

  1. Clicking on an email link to sign in to your online bank –

It is never advisable to click on a link in an email to sign in to your online banking account. Even if the email looks authentic, it is likely send by a hacker and contains malicious codes that will send your login details back to the sender. As a matter of fact, most of these phishing emails look exactly like the original one. The best method is to visit your bank’s website, access the login link from there and save it in your bookmarks for future use.

The best method is to visit your bank’s website, access the login link from there and save it in your bookmarks for future use.

  1. Download third party apps –

A lot of people have bank apps on their smartphones and devices which they use to connect to their bank accounts. It is very important that you download your bank app only from your bank’s official website or from the app store on your device. Never download your bank app from third party websites even if they appear to have a connection with your bank. Most of these apps on third party websites are filled with malware that could end up stealing your personal information.


  1. Avoid online banking with public Wi-Fi –

Public Wi-Fi is one of the perks of a civilized society. Virtually every library, coffee shop or park has an unsecured Wi-Fi network that people are allowed to use. While this is good for accessing the internet, it is not recommended for online banking. Using public Wi-Fi for your online banking puts you at the risk of hackers whose job is to access unsecured Wi-Fi traffic looking for personal information to steal.

  1. Leaving your apps and accounts logged in on your device –

You may wonder why you need to log out of your banking app and account on your device seeing as the device is your own and you don’t plan on giving it to anyone. However, doing this prevents you from falling victim to session hijacking and other forms of device hacking. At the very least, you will have peace of mind in the event that your device develops a problem and needs to be fixed.

Nicole's Nickels

Author: Nicole's Nickels

Nicole's Nickels aims to give you the best in personal tips to help you get control of your finances.

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