IndiaHow to Protect Safely Cash in my Savings Bank Account?

How to Protect Safely Cash in my Savings Bank Account?

Make sure to check the Savings Account Bank Statement and Bank Messages regularly.

Having money in your bank savings account is a good way to protect it. Yet in the midst of increasing cyber crime day by day, knowing all about bank frauds is the best way to protect that money.

Phishing, whipping, card skimming, identity theft and check fraud are some of the common frauds that threaten the money in the bank.

There are some important things to keep in mind and if you are careful you can keep the money in your savings account safe.

How to keep your savings account safe?

Password Warning

Hackers can easily access your online banking if you have a very weak password. Examples of passwords for the week are ‘password’, ‘qwerty’, ‘123456’. Apart from these your mobile number, including birthday.

So use unique and strong passwords for each of your online bank accounts.

Use Numbers and Special Characters to create this. Apart from that change your passwords at regular intervals. Do not share the password with anyone.

If you have difficulty remembering passwords, you can use the password manager mobile application or keep a diary.

Do not share personal information with anyone

Not only sharing the password with others, but also sharing important personal information about yourself, including credentials, can put your money at risk. Using your details like date of birth, signature, date of marriage, name of family members, proof of identity, guessing the answers to the security questions asked by fraudulent individuals when logging in to Net Banking can put your account at risk.

Similarly, we call from the bank and tell you the OTP that came to your number, but cut off the call. Do not give any details. Because, remember, bank executives never call customers and ask for OTP.

Follow your bank’s security advice

Banks usually share appropriate security advice from time to time via e-mail and social media. Banks provide guidelines on how customers can use their accounts securely and avoid fraud. So always follow these instructions carefully.

Be sure to check the bank statement and messages

Banks send information about transactions to customers via SMS and e-mail. So be sure to check your bank statement and bank messages. Maybe the habit of tracking a bank account will help you to detect it immediately and avoid losses if you do not make specific transactions.

Use Online Banking on a Secure Network

Avoid making online banking transactions when using the Internet on public networks such as hotels, restaurants, cafes. If you have access to a bank account using a public network in a hurry, it is a good idea to change your password once you have access to a secure network.

Keep the cheque book safe

Keep your cheque book safe at all times. Similarly fraudsters can copy your signature to withdraw money from your bank account or make financial transactions using your check.

Attention when using debit cards

Avoiding using your card at ATMs in unsafe locations can help prevent fraudulent cloning of your card. Also check if there are any unusual connections when using the POS machine.

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