13 Ways to Keep Your Online Finances Secure

by | Nov 7, 2019 | News | 0 comments





Nowadays, nearly everything is online. You can communicate with people across the world instantly, buy almost everything with the click of a button, and research just about anything. With our world moving towards all things digital, you probably manage some or all your finances online. Unfortunately, the ease of internet finances doesn’t always benefit you—hackers are getting better and smarter. Fear not—we’ve compiled this list to help you keep your personal information and finances safe.

  1. Use FDIC -insured accounts                                                                                                                                                                                                                                               If you’re shopping for a new credit card or bank account, look for FDIC-insurance, meaning the government insures the money up to $250,000 per owner. If you’re online shopping, try using a card that is FDIC-insured.
  1. Look into a security app                                                                                                                                                                                                                                                There are plenty of security apps for smart phones and computers. These usually protect against viruses and malware, which can be hidden in unfamiliar emails or certain websites.
  1. Extra fraud protection                                                                                                                                                                                                                                                 Some credit and debit cards have extra fraud protection features such as a money-back guarantee if you become victim to fraud. Ask your bank about these features and the procedures in case you ever become a victim.
  1. Use strong passwords

Many websites require a strong password but creating one that is difficult to guess is important no matter the policy. Adding special characters, numbers, and a variation of caps and lowercase letters can make it difficult for someone to figure out your password. Make sure you don’t use commonly known facts about yourself such as birthdays, anniversaries, names, etc.

  1. Sign up for transaction alerts

Many banks offer notifications when a transaction is over a customizable amount. They can send you a text, email, or phone call. This can be crucial if someone uses your card while you’re on the go. Even if you made the purchase, you’ll have the security of knowing your bank is on top of your account.

  1. Check your credit score weekly

Your credit score is an indicator of your finances. If it drops significantly, it may be a sign of identity theft or fraud.

  1. Use a shredder

Shred secure documents and old cards. Anything with an account number, bank information, social security, or other personal information. Some libraries, UPS stores, and Staples offer low cost or free shredding.

  1. Use caution with mobile purchases

Because mobile banking and purchasing are relatively new, it’s easier for hackers to take information, especially if you’re using public Wi-Fi. If making a mobile purchase, use caution and only trusted websites.

  1. Monitor accounts from a private network

When checking on your accounts, make sure you’re using a private server such as your password-protected home wi-fi. It’s more difficult for hackers to steal your personal information this way.

  1. Shop on trusted website

When online shopping, use trusted websites. Most well-known names such as Macy’s, Amazon, Walmart, etc. are safe. Look for the “S” in the HTTPS part of the link, check for the website’s privacy policy, or look for a trust seal.

  1. Do not open or respond to unknown emails

If you receive an email from an unknown sender or with a strange subject line, delete it. If it’s important, they’ll contact you in other ways.

  1. Leave your credentials in a secure spot

If you write down your usernames and passwords, make sure it’s in a secure place. Try disguising it. Do not leave it in your purse or pocket.

  1. Find a trustworthy financial advisor

For your larger finances, find a trustworthy financial advisor. This person will monitor and control large portions of your money. Look for a fiduciary—meaning they legally must put your best interest above their own. For more tips click here for our blog post with questions to ask your potential advisor. https://ronaldgelok.com/smart-questions-to-ask-your-potential-financial-advisor/

If you’re ready to meet with an advisor, click here to schedule a time to chat so we can help protect your money while allowing growth. Our team offers financial advisors, retirement planners, a tax specialist, an estate planning attorney, and more! https://ronaldgelok.com/fa-schedule/