How to Bank Online Safely

You can access a wide variety of banking services online. While this option is more convenient than in-branch banking, you should still exercise caution to avoid security breaches and Internet scams. Here are some guidelines for safe online banking.

Difficulty: Easy

Instructions

1. Verify that you've typed the bank's correct website address into the URL field before logging in to your account. Read the site's "About Us" page to look for the bank's address, customer service number, website and email addresses, and history. Compare the information to any mail that you receive from the bank to ensure its accuracy.

2. Find the bank's insurance status on the website. The FDIC logo or the words "Member FDIC" or "FDIC Insured" should appear at the bottom of the website's pages. You can also visit the "Bank Find" page of the FDIC's online database, where you can search by name, city, state or zip. The results page will show the bank's correct name, when it became insured and the insurance certificate number.

3. Identify the bank website's security features before entering any user information. The site must have a lock or key icon on the screen. This shows that your personal information is encrypted, or scrambled, to prevent unauthorized access. Check that the website has "https" at the beginning of its address, which means it is secure.

4. Choose a strong password that's at least seven characters long. Use a combination of letters, numbers or symbols instead of your name or birth date, which would be easy to guess. Select a password that only you can remember without writing it down. Change your password often to stay safe.

5. Keep track of your money daily. Report any unusual activity on your account to your bank immediately, by phone or in person.

Tips & Warnings

• Get the latest security updates from your Internet Service Provider, your antivirus program and your firewall to stop spyware and viruses from entering your computer.
• Use different passwords or PINs for each of your bank and credit card accounts. Criminals can easily hack into your account if all of your passwords are the same.
• Remember that banks will never contact you by email or by phone to ask for your PIN or other personal information. If a page link within an email asks for your PIN or password, then it is a scam.
• Avoid replying to fake emails that can lure you into revealing personal information. You can tell if the communication is fraudulent if they greet you as "Dear Customer" instead of using your first name. Type the URL in the address field to go directly to the website instead of clicking a link within the email. Misspellings are another indicator of a fake email.
• Protect yourself when accessing your bank from a public computer at a library or Internet cafe. Do not leave your computer unattended and be mindful of who is looking over your shoulder.

Resources

• Find tips for protecting your privacy online.
• Learn about bank website security at the FDIC site.