Online banking is extremely convenient, giving you the tools to track your spending, pay bills, and even deposit paychecks at the push of a button. While banks generally have some of the most sophisticated security software on the planet, data thieves may still be able to get ahold of your sensitive information. Below are a few tips for using your online banking tools safely.

5 Tips for Using Online Banking

1. Use Two-Factor Authentication

It may make logging in take a little longer, but two-factor authentication keeps data thieves from accessing your account. This technology generates a unique code every time you try to login, which is usually sent to your phone. These codes are usually invalidated after a few minutes, which makes them virtually impossible to steal.

2. Create a Strong Password

Hackers and data thieves often use brute-force software that will try thousands of passwords a minute. Using common ones like “12345,” “password,” or your birthday leaves your finances vulnerable to data thieves, so choose a strong password with letters, numbers, and punctuation marks.

3. Use Antivirus Software

Your bank’s security protocols are only as effective as your own antivirus measures, so install high-quality safety tools and update them regularly. Keeping all of your other software updated will also close vulnerabilities that unscrupulous thieves can use to access your computer.

4. Don’t Fall for Phishing Attempts

Phishing involves sending fake emails designed to look like they come from your financial institution. Your bank will never send an email asking for your login details, so assume any messages you receive are fake.

5. Don’t Use Public Wi-Fi

There’s almost no way to guarantee privacy on public Wi-Fi systems, which are generally unsecured. Anyone using the same network can easily access your data and find any password you enter, so never use the Wi-Fi in a coffee shop, airport, or restaurant to access your online banking programs.

For more than a century, Magnolia Bank has provided personal service and cutting-edge technological tools to customers throughout Magnolia, Hodgenville, and Elizabethtown, KY. They’re dedicated to combining the personal attention you’d expect from a small local bank with the advanced online banking capabilities of large national chains. Visit their website now to find your nearest location or call (270) 358-3183 to reach their Hodgenville branch or (270) 765-4072 to speak to someone in Elizabethtown.