Due to the COVID-19 pandemic, more and more individuals have begun to rely more on online banking than ever before.
Whether it be to deposit a check, initiate a transfer, or pay bills—it has never been easier to access our accounts.
In today’s digital age, there are many benefits to online banking services. It’s easy, convenient, and allows the everyday American to feel more empowered in their financial decisions.
But on the flip side, digital banking can be a dangerous place. Even though Farmers Bank’s online banking takes your security seriously, hackers and other criminals lurk around every corner.
In fact, the US Federal Trade Commission received 2.2 million consumer fraud reports in 2020 alone.
As these hackers continue to advance their techniques and equipment, they become even more skilled in trying to gain access to accounts of unsuspecting consumers. Even the best online bank can fall victim to fraudulent activity should their customers’ accounts become compromised.
Luckily, there are several steps you can take to better protect yourself and your family as you use these resources.
Keep reading below to learn more.
Key Tips to Stay Safe While Using Our Online Banking Services
It's true the threat to consumer security is heightened while using a digital banking service. However, this does not mean these programs cannot be utilized safely. Customers can reap the many benefits and conveniences of online banking, by just taking a few extra steps to prioritize safety.
Consider implementing the below tips to improve your own online safety while accessing financial accounts
Do Not Use a Shared Device
While it may be convenient to use digital banking services on the go, it’s important to only do so on a trusted device. Whether it be borrowing a friend’s cell phone, or at an internet café—you never know where your information may land.
This does not just apply to physical devices. Public Wi-Fi networks can serve as a gateway to hacking in many areas.
While it’s true most public networks have grown significantly safer—they may still fall victim to advanced hackers. Protect yourself, and be sure to avoid opening any online banking apps or websites while connected to these networks.
It is possible a malicious actor has placed malware on this device, or some other method of collecting your information. Even if just using a shared device for a few minutes—your account can become compromised with the click of a button.
It is far better to play it safe and avoid logging into sensitive accounts on shared devices.
Use a Unique Password
Most of us know by now how important it is to use a complex password. It should have a complicated combination of uppercase and lowercase letters, numbers, and special characters.
The more complex a password, the harder it is to hack.
But with that said, there is an extra layer of protection associated with these passwords. Be sure to avoid repeating passwords on other sites, that you then recycle for use with your Farmers Bank’s online banking account, as well.
Should that other, less secure site fall victim to hacking as well, the culprit may be able to connect that other account to your online banking system. From there, it is a simple click of a mouse to log right into your digital banking program.
In order to avoid this occurrence, be sure to use a complex and unique password for any digital banking accounts.
Keep Your Devices up to Date
Another important way to protect yourself while using an online banking service is to keep all devices up to date. This includes computers, cell phones, tablets, and other devices.
As technology continues to improve, manufacturers will issue system updates. This often includes security improvements, designed to protect consumers from the constant evolution of hacking.
The more outdated a device is, the less secure it tends to be. For this reason, it is imperative that you keep all devices as updated as possible before using digital banking services.
Remain Vigilant Beyond Online Banking
There are other common scams that do not just involve hacking accounts with computers. Phone scams continue to rise in popularity, targeting vulnerable populations in particular.
Be wary of any callers asking for personal information. Even if they identify as representatives of the bank, the government, or any other institution, be skeptical.
Do not be afraid to ask for proof of who the caller is, or what company they claim to be from. Better yet—hang up, and call back the publicly listed customer service number. If the company is legitimate, this should be no problem.
Above all, the best way you can protect yourself online is to stay on your toes. Remain vigilant, and don’t be afraid to be doubtful when something doesn’t feel right.
But in addition to this, it’s imperative that you have a partner in this fight. When looking for a bank in Idaho you can trust—Farmers Bank is the clear solution.
We work hand-in-hand to ensure we are doing our part to protect your accounts, as well.
Farmers Bank Online Banking Protects You
Even though there are plenty of dangerous actors out there looking to wreak havoc on your bank accounts, we are here to help. Farmers Bank online banking takes several key steps to protect our customers from falling victim to these attacks.
Furthermore, we offer free online educational courses with advice on how to better protect your identity. You can rest assured that Farmers Bank online banking takes your security seriously.
For more information on how you can stay safe while using our digital banking services, contact us today!