With every day, technology makes it easier and easier to do more things online and face it our lives have become more and more busy.

We want to do online banking to save time and it is more convenient, however we are always faced with the horror stories that we have heard about people’s account being hacked once they started online banking.

The bank should have multiple security measures in place to protect you.  Security features such two token authentication, secret questions and answers, IP address validation are now main stream measures. If your bank does not offer these, then contact them to see why not.

As customers, you share a responsibility as well and have to be vigilant and cautious any time you are accessing and performing online banking transactions.

Follow these simple security guidelines to perform online banking transactions

Do not use a public computer

Do not use public computers to login to your financial institution and perform transactions from places like Internet Cafes, public libraries, train stations, airport since you have no idea if those computers have been infected with a keylogger or a virus.

Always use your own personal computer that you know is free of possible spyware and malware.

Check Accounts Regularly

Check your accounts routinely to see if there is any fraudulent activity in your account. The sooner you catch it, the less the damage. Some financial instituition also have a grace period as when the activity has to be reported by.  Check with your financial institution for the specific terms.

Create Strong Password

It goes without saying that do not use a simple password and also do not use the same password for all your logins.  It is very convenient to remember a single password, but if one account gets compromised, all your accounts are at risk!!

There are software programs available that will store your passwords in an secure and encrypted format on your computer and you can access those passwords with a single very strong password.

Never give your personal information to others

Do not give out your personal information if anyone calls you representing the financial institution or a government agency. These instituions never call you over the phone to resolve the issue. You should get a written communication regarding the situation. If you really are concerned, then hang up the phone and dial the instituion yourself and speak to some regarding the situation.

Keep your Security Software updated

Security software companies such as Symantec, McAfee, Sophos sell a commercial product that provides top notch antispyware, malware and virus protection.

Microsoft Security Essentials can be downloaded for FREE and run on your computer as long as you own a legitimate copy of Microsoft Windows Operating System.

Companies such as Avast provides a free version as well.

Conclusion

Banks should be fully responsible to provide secure and safe online banking privileges, but as a informed customer, you can protect yourself even more.