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6 Tips For Secure Banking Transactions

Earlier, for every transaction we had to make, we were supposed to visit our bank branch physically. Within few years, banking sector has evolved to a great extent. Customers nowadays don’t have to visit their bank every time they make a transaction. Almost every banking task, starting from depositing money, withdrawing money and transferring money is possible while sitting at home. All it needs is a PC or smartphone to accomplish the task within minutes.

Our reliance on such easy banking has also increased in last few years. But do we take care of security while performing banking transactions? Read on to find out 6 tips which will help you in making secure banking transactions.

Secure Banking Transactions

6 Tips For Secure Banking Transactions

Here are the 6 useful tips to help you perform secure banking transactions:

1. Keep Strong Internet Banking Passwords

Ideally, your password should be a combination of alphabets, numbers as well as special character. You may also use both lower case and upper case of alphabets in your password. Make sure that your password is difficult for others to judge and easy for you to remember. Don’t share your banking passwords with others.

2. Scratch CVV

First thing which you should do, on receiving your credit card or debit card is to scratch its CVV number. A CVV number consists of 3 digits and is written on the back of your credit/debit card. It is advisable to memorize it but if you can’t memorize it, then you can write it somewhere. Scratching the CVV number will help you avoid frauds using your cards.

3. Activate SMS Alert

You should get SMS alerts activated for your bank account. With this, you will receive an SMS, every time you make a transaction. If you receive an SMS for a transaction, which you have not made, then you can call your bank immediately to inform it about the fraud and get your card blocked.

4. Never Share Your PIN’s With Others

Most of us make transaction using credit/debit card at shopping malls, restaurants, petrol pumps and many other places. Make sure that you don’t share your PIN, CVV number or any other banking detail with any other person.

5. Download Anti-Virus App On Smartphone

If you use your smartphone for banking, then don’t forget to download an anti-virus app from trusted source (Google Play or Apple’s App Store) with good ratings on your phone. Check the rating of the app before downloading it, as there are many fake apps which infect the phones instead of keeping them safe from malware.

6. Update Smartphone Software And Banking Apps Regularly

Make it a practice to download software updates on your smartphones, as soon as they are released. Sometimes, apart from new features, software updates come with improved privacy controls which protect the device against malware attacks. It is also advisable to update your banking apps regularly. You can update the apps manually or set it to automatic updates.

The tips mentioned above will help you perform secure banking transactions. Is there any other thing that we missed? Share with us in the comments section below!

Also Read: 12 Credit Card Safety Tips

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