1. Use complex passwords.
Banking technology has always been something of a double-edged sword. While providing consumers with all sorts of new ways to manage their finances - through services as diverse as online banking applications, PayID# and mobile digital wallets^ - new technology also presents issues of safety and privacy. This is because of the various risks associated with managing money online, but there's no reason at all why modern banking can't be incredibly secure.
In fact, by following these few simple tips, you can help keep your banking safe from malicious activity.
2. Use secure networks.
As the first safeguard to your accounts, it's worth spending a bit of time reviewing your passwords.
The risk here is that if you use the same password for every website or digital service and it becomes compromised, you'll be vulnerable to a far greater variety of threats. Instead, spend a bit of time working out individual passwords for every account or log-in portal, and be sure to quickly change any password that you believe may have been compromised.
These days, we're all used to having secure WiFi networks in our home. This makes accessing platforms such as online banking quick, easy and generally safe, but what about when we're out of the house?
It might seem tempting to log into a free WiFi service at a cafe or airport and use that to quickly check your account balances. However, these services are often not secured. This means that anybody else who's using the same WiFi service could potentially access your activity, and subsequently your banking details. To stay on the safe side, always make sure you're using a secure connection to the internet before checking your accounts.
This information has been provided without taking into account any of your objectives, financial situation or needs. You should consider whether it is suitable for your circumstances before acquiring this product.
All loans are provided by Beyond Bank Australia Ltd ABN 15 087 651 143 AFSL/Australian Credit Licence 237 856. © 2020.