Mobile & Online Banking Safety: Tips to Protect Your Accounts

Mobile and online banking make it easy to manage your money. From checking your account balance to transferring funds and depositing checks from your phone, these tools offer convenience and flexibility without making a physical trip to your local financial institution.

Understanding how these tools work and taking a few simple precautions can help you manage your finances while keeping your personal information secure.

Start Banking Simply

Mobile and online banking offers several helpful features that can make managing your finances easier, including:

• Checking balances and transactions: Easily monitor your account activity, review purchases, and keep track of your spending.

• Transferring money: Move funds between eligible accounts without visiting your financial institution. 

• Depositing checks remotely: Use your mobile device to securely deposit eligible checks.

• Setting up account alerts: Receive notifications about account activity, balances, and other changes to help you stay informed.

Checking your accounts regularly and taking advantage of available security features can help you stay on top of your finances and spot potentially suspicious activity.

5 Tips for Safer Digital Banking

1. Use Strong Passwords

Create a strong, unique password for your digital account. Avoid using the same password across multiple websites and never share your login credentials with others. Whenever possible, enable multifactor authentication, which adds an extra layer of security by requiring an additional verification method when signing in.

2. Keep Your Devices Secure

Protect your phone, tablet, and computer with a password, passcode, or biometric lock. Keep your operating system and banking app updated to help protect against security vulnerabilities. When banking online, use a trusted internet connection and avoid accessing your account on public or shared computers whenever possible.

3. Monitor Your Account Activity

Make a habit of reviewing your balances and recent transactions. Consider setting up account alerts to notify you of certain purchases, withdrawals, low balances, or other account activity. If you notice a transaction you don't recognize, contact your financial institution promptly through an official channel.

4. Be Cautious of Unexpected Messages

Scammers may send emails or text messages claiming there's a problem with your account. These messages may include links asking you to verify personal information or sign in immediately.

If you receive an unexpected message about your account, don't click any links or provide sensitive account information. Instead, contact your financial institution directly using a trusted phone number to verify whether the message is legitimate.

Remember, scammers can make phone calls and messages appear to come from a familiar organization. Never share your password, PIN, or one-time verification code with someone who contacts you unexpectedly.

5. Double-Check Before Sending Money

Before making a transfer, take a moment to verify the recipient, destination account, and amount. Be especially cautious if someone pressures you to send money urgently. If something feels unusual, pause before taking action.

What Should You Do if Something Seems Wrong?

If you notice unfamiliar transactions, receive suspicious account notifications, or believe you've shared your information with a scammer, act immediately.

Contact your financial institution using an official phone number to report the issue and ask about the steps needed to secure your account. Depending on the situation, you may need to change your password, update your account security settings, or deactivate your debit or credit card.

If you suspect fraud, don't be afraid to ask for help. Scams can happen to anyone, and reporting suspicious activity helps limit further problems.

Bank With Confidence

Mobile and online banking can be valuable tools for managing your money, and learning how to use them safely doesn't have to be complicated. By protecting your login information, monitoring your account activity, and staying alert to potential scams, you can take steps toward a safer digital banking experience.

At Cornerstone, we're committed to helping our members build financial confidence. If you have questions about mobile or online banking, feel free to contact our team directly at (800) 777-6728.