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Internet Banking Tips

Internet Banking Tips

Written by R. A. Stewart

Internet banking is here to stay whether we like it or not but so is internet scams which have caught so many people out. It is important to stick to a set of rules in order to minimise your chances of being caught out by these scams. Here is a list of rules which will help you to keep out of trouble.

Rule one-Use a separate email address for dating sites.

If you are using a dating site then do not use the same email address you would use for your banking. You have heard of “Romance Scams” and these come in many different forms. You certainly do not know who you are dealing with and you do not want your main email address clogged up with unwanted emails. 

Rule two-Two factor authentication

Give yourself an extra layer of protection by setting up a two-factor authentication. This will involve setting it up with your phone. Once this is done you will sign in with an username and password and then receive a text with a code which you will type in the space provided.

Rule three-Do not connect your debit card to your personal account

This is just asking for trouble! One person I know was fleeced of $3,000. He invested this money into his everyday account then the money disappeared from his account the following day. A site he bought goods from had his debit card details and this was linked to his personal account with the hacker having his and other customer’s banking details. The bank made good his loss.

Rule four-Do not leave all of your money in one account

You should never just leave all of your money in your personal/everyday account. Your savings should be in a separate account. It is important to establish firstly what this money is for and invest it accordingly

Rule five-Do not click on links

It is not always possible to know whether an email you receive is from your bank or from a scammer, therefore, make it a rule to never click on a link in an email. Instead, type in your bank’s website on your computer.

Rule six-Use this google trick

Copy and paste any email you receive from your bank into the google search engine and see what comes up. Do the same with any phone number you receive in an email or text. This night threw up some red flags.

Rule seven-Never, never give your password to anyone

Never give your password to anyone if they ask for it. If anyone asks you for your password in an email or text message then this is a certain red flag.

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www.robertastewart.com

 

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DEBIT CARD DISASTERS

How to avoid debit card disasters

Debit cards have been a revelation for those of us who make it a hard and fast rule to spend only what you have; it has enabled us so-called tight wads who are reluctant to spend other people’s money to purchase online and still be in control of our spending. The great thing about debit cards is that you can still safeguard yourself or at least minimize the cost to you in the event of a site hacking; after all with a debit card, only whatever is on the card can be spent. 

There are some horror stories with the use of debit cards, but these should never have happened; I have come up with a few rules to protect yourself against fraud;

RULE ONE: Do not link your debit card to your everyday account

Someone I know did this, and he found $3,000 disappear from his everyday account. He bought stuff off the internet and the site which he bought from had his debit card details. Unfortunately the debit card was linked to his everyday account. He talked it over with his bank and proved that he did not purchase anything worth 3k from the site. THe bank reimbursed him 3k.

The explanation as to how this could have occurred is that the website was hacked, exposing the card details of those who had registered with the site.

RULE TWO: Do not use your debit card as a savings account

You are leaving your savings exposed if you do; exposed to card fraud. (See rule one). Best if you use an ordinary savings account. 

RULE THREE: Have an account which is not connected to the internet

This is to protect yourself against internet fraud. If you have an account which is not on the internet then you are not going to be scammed. 

RULE FOUR: Do not put too much money in your debit card

This is basic common sense. Only what you have in your account can be taken in the event of internet fraud.

RULE FIVE

Destroy old debit cards and don’t just dump them with your rubbish where any Job Bloggs may find it.

RULE SIX

Be aware of your surroundings if using a public computer or wifi, you do not know who is sitting at the computer next to you.

RULE SEVEN

Do not rely on your debit card as your only source of funds. Always have other options available to you.

RULE EIGHT

Have at least one bank account which is not connected to internet banking

RULE NINE

Don’t make supermarket purchases with your debit card; use your ordinary bankcard as it offers greater protection.

RULE TEN

Learn to recognize phishing scams on the internet as it may save you a lot of money and heartbreak in the future.

www.robertastewart.com

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