14 Useful Tips for Safe Banking Practices and Security Guidelines [Online Banking Security]

We all are living in "digital world" now and we often hear news around the security breach cases that happened to the people in their bank accounts either on TV or over the internet like online fraud cases or bank accounts are being hacked and so on. This is because people are being smart like their smartphones. And they wanted to do baking things online by sitting on their couch. But they forget about a fact that there are many fraud companies out there in the online world and such companies always try to know about your bank details and your personal information. You have to be ALERT! from such fake notifications, SMSs/messages, E-mails that claims Huge Offers, Cashbacks or Reward Offers, etc. or even the information of current COVID-19 Pandemic via unknown sources. In this article, we will discuss how we can make your bank account secure in this online world.

How to stay safe online? —
As I said above, many people have an idea about online baking in the world of technology. Also, people are fond of making online baking transactions with few clicks on their mobile. On top of this, even the banking sectors are growing day-by-day. They are offering online banking services to their customers for a comfortable and secure life. It could be internet baking, mobile banking, and any other service. Moreover, using ICICI internet baking methods their customers can do quick transactions by sitting at their home. Obviously, because of such services, people don't have to visit the bank personally to do hectic banking things like money transfer, etc.

Nowadays, a lot of questions are arising in digital privacy and security. No doubt, your bank is giving you the fastest and quickest online baking services, but sometimes, it is equally risky for you while doing your banking transactions online. Millions of people are having their own bank accounts but very few of them (because of a lack of knowledge) don't even know how to use internet banking and how to do transactions online, etc. But those who do their banking things online, make sure to follow safe banking practices so that you could secure your bank account and can protect your privacy and personal data from the fraudulent.

14 Useful tips for safe online banking practices - ICICI safe banking [Internet banking security]

Now, let's take a closer look at those useful tips that stands for the safer banking practices:

1. Create a strong password and keep changing it regularly.

This is the first and most important tip ever. As you already know, whenever you apply to enable internet banking for your bank account, they provide you with your user ID and password to login to your account along with an instruction to set your own password after the first login. And once you log in to your account for the first time, you are being prompted to set your own password.

Make sure that your new password should be more complex, stronger, and easy to remember too. The banking website also gives you tips like password should be alphanumeric or should have a combination of capital and small letters, or even should include some special characters. For security purposes, you have to keep changing your password regularly and never use the same password for a long time.

2. Use only official bank apps or website.

Nowadays, all the standard banks have developed their mobile applications for their customers. And you have to refer to authorized or official banking apps only. Also, make sure to install the apps from trusted sources only like Google PlayStore or Apple iStore.

Mostly, the official banking applications are always safe and comes up with inbuilt security features for doing all of your banking transactions. Never trust any unknown sources for installing Android .apk or Apple .ipa files directly on your smartphones.

3. Never share your personal banking details with anyone.

I know Sharing is Caring, but in this "online banking" world, "Sharing is Crying".

Never share your personal data like your Debit Card Number, Expiry Date, CVV number, ATM pin, UPI pin, One-Time-Pin [OTP], User ID, Password, or any other personal details with ANYONE. Bank staff never ask for personal data. So beware of such things even if they claim that they are calling from your bank.

Sharing your username and password or any sensitive data may lead hackers to gain access to your bank account. Hackers are unauthorized users who break into your account in order to steal, change, or destroy your own information. So please make sure to keep all your personal information with you only.

4. Use genuine antivirus softwares only.

There are many viruses and malware on the internet that attacks your important files and information such as Transaction passwords, Card Number, CVV, and many more things being used by you to perform bank transaction. So make sure to install genuine anti-virus or anti-malware software application on your computer. Also, make sure to keep it up to date on a regular basis.

Also, do not browse any kind of unknown websites and don't click on any unknown links / Ads on the internet. Trojan is a different type of malicious code or software that looks "Legitimate" but can take control of your computer. Once this virus installs on your computer, it becomes very difficult to remove it.

To be honest, install a Genuine Antivirus Softwares Only on your computer. Antiviruses always protect your PC from harmful viruses and malware attacks. Antivirus not only protects data, but also notifies you frequently in case of any untrusted access attempt.

5. Follow two-factor verification.

Two-factor verification provides you an additional layer of security for your account. With 2-Step verifications, you will certainly protect your account with both your password and mobile number. Also, whenever you try to log in to your bank account, the bank immediately sends you a text message or E-mail with unique verification code or OTP. This is nothing but a high level of security provided by the banks.

In addition to this, register your mobile number and E-mail address with your bank account for receiving transition alerts. It also helps you keep track of all your banking transactions. This way, you will get real-time updates about the things happening with your bank account like your banking transactions, any new services published by your bank, and many more things. This all possible when you register your mobile number and email ID with your bank account.

6. Beware from phishing emails and messages.

It is not at all a good practice to follow any unknown links which you receive via Messages, SMS, emails, or via any other way. Phishing links are kind of fraudulent that asks you for your bank details and sensitive data.

Basically, Phishing is a type of attack that often used to steal user data, including login credentials and credit card numbers. This occurs when an attacker, pretends to be a trusted entity, tempts the user to open their email, instant message, or text message by offering huge offers, easy returns, etc. Mostly, people fall for those temptations and click on such phishing links and do banking transactions. This is how people share personal data on their own with the attackers.

No bank ever asks you to share your sensitive data; like personal information, or account details neither via E-mail nor via texting/calling you. So you have to beware of these things and NEVER entertain such phishing emails or messages.

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7. Always logout when you are done and clear history.

This is a good practice that, once you are done with all of your activities, you have to Logout from the bank account. It hardly takes a second, not more than that and kills your login session automatically. But people tend to forget this small thing and it is too risky to keep your login session Active for a longer period, it's like sending an invitation to the hackers.

On top of this, as I mentioned above, always make sure to clear all your browsing history, cached data from your computer. Also, never ever save your banking data like username, password, or any sensitive information. This is useful from your account security perspective.

8. Keep reviewing your account regularly.

This is yet another good practice where you have to keep an eye on all of your bank account activities. Also, you must check your bank statement and transactions on a regular basis. In the case of online banking, downloading a copy of your bank statement is an easy job.

Always stay alert with any transactions happening on your bank account. If any unknown transaction is done on your bank account, verify that against the bank statement, and in case of discrepancy observed, you can contact the bank immediately. As you know, online banking offers 24x7 service, so take advantage of that. Check your every transaction from your last login at any time of the day.

9. Avoid using public computers for banking.

Never use any public computers for making secure bank transactions. Even, try to avoid connecting to untrusted or unknown Wi-Fi network. People usually ignore such minor things and access their bank accounts directly. But let me tell you one thing when you go out in any Cybercafe or in the internet library, there are more possibilities that your password may traced or seen by others.

Even in any emergency case, if you have to log in to your bank account in any commercial places or in Cybercafes, make sure to delete all the browsing history and cache of the browser before leaving. Also, never allow the browser to remember your username and password or any sensitive data.

10. Disable auto-fill option.

Whenever you make use of your own laptop or someone else's laptop, make sure to Disable Auto-fill option in the browser. This is to avoid storing your sensitive information in the browser like Username, Password, Debit and Credit card information, or any other information.

Additionally, if you have any extension or addon installed on your browser that stores all of your login credentials, then remove that immediately from the browser.

Also, avoid selecting "Remember me" or "Keep me signed in" etc. kind of option while trying to login to your online bank account. This is not a safe thing from a security point of view.

11. Don't allow anyone to access your laptop or mobile.

This is also one of the important tips for internet banking users. Please make sure that you don't allow anyone to access your mobile, laptop, or personal computers. Also, do not ask anyone to access your bank account on your behalf. It is a lot riskier for you and for your bank account security.

In simple words, compromising your account privacy is not good. It's like sending an open invitation to the hackers or to the potential thieves.

12. Verifying numbers.

Nowadays, there are many fake calls coming on our mobile as a bank employee. As a matter of fact, not all of them are bank employees, they could be fraudulent callers as well. Make sure that, you do not respond to such fraud calls, they are just trying to know your personal details.

I'm repeating this again, but you have to understand that no bank ever ask you about your personal details, or any other sensitive information. You have to verify the call center number either from the bank branch or from their official website.

13. Verify app permission.

This is one of the small but still useful tips. Always verify bank app permissions and allow access to those things which are relevant for the app only. No need to grant access to each and everything from your mobile directory like photos, files, etc.

You can enable relevant app's permissions like notifications, updates, etc. which usually won't become a potential breach to your smartphone directory. This way you will keep your bank account secure from untrusted attacks.

14. Don't enable "untrusted sources" in your smarphone.

Never ever enable this "untrusted sources" application in your smartphone. By enabling this option, any unwanted and untrusted app will be downloaded and installed on your smartphone without any permissions.

I've seen there are couple of applications meant to attack on the smartphone through viruses or malwares. This may even hack your data online and your data privacy will be compromised. Make sure to install apps from Trusted and Authorized resources like Google PlayStore, Apple iStore, or Company stores only.

Bottom Line

Hoping the above tips will be helpful for you to keep your bank account secure. Your bank account security is in your own hands, so make sure to read all the above tips carefully and try to follow them, if you aren't already.

Anyways, if you find something else more promising than what I've enlisted above and want to suggest any other things, do not hesitate to use below comment section. Feel free to get in touch with me anytime. Happy to hear from you and would like to share as much information as possible to help others.