Online Banking 101: Safety First

There are a lot of stipulations and fears around online banking and that it is not as secured or friendly to use but we are going to show you that it can be. Online banking is as simple as it sounds. As long as you take the time to practice online safety procedures you will remain secured.

First and foremost, it starts with your financial safety. When members enroll into online banking, they are prompted to create a unique username and password. Make sure that your username and password are not common or could be easily guessed. Including at least one number, symbol, lower-case, and upper-case letter can help you create a stronger password that can’t be easily hacked.

Example of a weak password: Alltrust12345

Example of a strong password: Dog$Like2B@rk!

Another layer of security that online banking uses is the use of access codes. At most institutions, they assign you temporary access codes that gets sent to the email or phone that is on your profile. This one-time code will be required at every log in attempt. Each log in attempt will get a new code. There is an option to register your device, which allows the system to recognize that you are using a verified device. The point of the codes is to make sure that people who get a hold of your username and password cannot sign on and have access to your accounts. Any foreign device that attempts to log in will generate an access code and notify you that a code is being requested. This will raise a flag to you if you are not signing on to your account. There is no way to bypass the access code to get to the accounts, so if someone else is requesting a code, they can’t get into your account unless they get the code. If you do receive an access code and you are not trying to log in, change your password immediately. An access code will be required every time you sign on to a new device, don’t register your device, or sometimes when there is an update on the system. Every code that is being requested is different. You will never have to memorized or use the same code twice.

Even if you don’t want to do any transactions via online banking, it is good to have access to your accounts whenever the banks are closed. Having immediate access to your accounts allows you to have early detection to any fraudulent transactions. If there is fraud occurring on your accounts, you can start the process faster to protect the rest of your funds. You are faster at detecting fraud than the financial institutions when you can monitor your accounts remotely.

Another safety measure is that the system will log you out automatically after a few minutes of inactive use. If you forget to log out, your account will automatically log you out after several minutes of inactivity. To avoid any chances of someone getting access to your accounts, be sure to log out after using online banking.
As mentioned above, online banking is secured as long as you maintain your accounts properly. You should not be giving anyone access to your username or password even if it is someone you know. Don’t leave passwords in plain sight and make sure your password can’t be easily hacked. Another thing to note, if you have multiple signers on your accounts, each signer should enroll into online banking separately.

Safety is incredibly important and online banking is built to always keep your information and funds secured as much as possible. It is not a risk to enroll into online banking if you are aware of the safety precautions. Online banking seems to be where the banking industry is going. More and more people are now open to the idea of processing transactions online. It is easier to understand online banking once you know how many secured measures institutions take to keep your information safe.

If you have any questions or concerns about your online banking, please contact us or visit a branch.

If you have other questions or topics of interest that you want to learn more about, email and it could be our next blog!