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Tips to safeguard banking transactions

IamCheated.com Research Team | August 12, 2019  6:17:pm

Tips to safeguard banking transactions

Banking has become very easy, with the use of technology. You can transfer money from one bank to another; at just a click of a button. In the past you had to visit your bank for a single transaction. With the help of online banking, you can do various things like pay utility bills, book tickets, shop online and much more. Online banking has made your life a cakewalk.

While online banking has many advantages, it also has its share of downsides. If you are not careful while carrying out a transaction, fraudsters can wipe out the money in your bank account.

As the number of people using online banking is increasing, bank frauds are on the rise. Even people who do not use online banking are targeted by fraudsters. So, it is very important to be careful with your bank accounts. In this blog, we will discuss the tips to safeguard banking transactions.

See Also: How To Avoid Digital Banking Frauds?

Tips to safeguard banking transactions

1. Online banking tips

It is very important to be careful while carrying out online banking. Not being careful can prove costly. It is advisable to memorize net banking passwords. Make sure not to write down passwords anywhere, or reveal it to anyone. You must not carry out online banking from public computers and public Wi-Fi, as they are not secure. Don’t forget to logout from the online banking website.

2. Cheque book safety tips

You must always keep your cheque book in a safe and secure place. Leaving your signed cheque book around, is very risky. It is advisable not to leave signed cheques in the cheque book; as they can be misused. Don’t hand over a blank cheque to anyone. You must record the details of cheques issued on the recording slip, as this can be used to reconcile with bank records.

3. Debit and credit card safety tips

It is very important to keep your debit and credit card safely. To make sure there are no unauthorized transactions, you must keep a track of all transactions which take place with your debit and credit cards. You must subscribe to the SMS and email alerts sent by banks and credit card companies.

Don’t share your card details like card number, CVV, expiry date and OTP with anyone including bank employees.

4. Report the fraud as soon as possible

In case you find any unauthorized transactions, you must report them to the bank, immediately. You can contact the bank by calling up the customer support number. Don't rely on the customer support number which comes up on Google. Instead, you must visit the official website of the bank and collect the customer support number.

See Also: How To Secure Mobile Banking Apps?

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