How to Stay Safe When Banking Online
Online banking is safe, as most fraud is preventable. Learn 8 simple habits — from MFA to spotting phishing — to keep your accounts and money secure.
Online banking is built on strong security foundations.. That’s because banks like Forbright Bank invest heavily in encryption, fraud monitoring, and layered security technologies to help protect customer accounts.
But even the strongest security systems can’t prevent every mistake. Many financial scams succeed not because a bank’s defenses fail, but because someone unknowingly shares information, clicks a fraudulent link, or uses an unsafe internet connection.
The good news? Protecting your financial information doesn’t require technical expertise. A few simple habits can go a long way toward improving your online banking security and reducing your risk of fraud.
Here are eight practical cybersecurity tips that can help keep your money and personal information safe.
1. Think before you click on unexpected messages.
Phishing scams are one of the most common ways criminals try to steal personal and financial information. These messages often appear to come from a legitimate source, whether that’s a bank, retailer, delivery service, or government agency. Their goal is usually the same, create urgency and convince you to click a link or provide sensitive information.
Watch for warning signs such as:
- Generic greetings like “Dear Customer.”
- Unexpected requests for personal information.
- Messages that pressure you to act immediately.
- Suspicious links or email addresses.
- Unusual grammar or spelling mistakes.
Today’s scammers are increasingly using artificial intelligence (AI) to create more convincing messages. Some phishing attempts arrive through text messages, making them even harder to spot.
But the safeguards haven’t changed. If a message pushes you to act fast or hand over information, verify it first. No legitimate bank or payment platform will ask for your password or account details through an unsolicited message.
2. Use a different password for every financial account.
One security breach shouldn’t hand someone access to everything. But that’s exactly what can happen if you’re reusing the same password across various sites.
Consider these best practices:
- Use long passwords or passphrases instead of short passwords.
- Avoid personal information like birthdays, addresses, or pet names.
- Choose unrelated words that are easy for you to remember but hard for others to guess.
- Use a password manager to store and generate passwords.
- Change your password right away if you learn a site you use has been breached.
3. Use multi-factor authentication.
If your financial institution offers multi-factor authentication (MFA) to log into accounts, opt in. MFA adds a layer of security by requiring you to provide two or more distinct factors to log in—such as your password and a code sent to your phone or fingerprint or face ID.
4. Review your accounts regularly.
Fraudulent activity often starts with a small test charge. You may see a few dollars withdrawn to check whether the account details work before something larger follows. When you review your accounts, look for merchants or recipients you don’t recognize, duplicate charges, transfers you didn’t authorize, or a pattern of failed payment attempts. If you spot something, contact your bank right away.
5. Avoid banking on public Wi-Fi.
Public networks in coffee shops, airports, and hotels are easy for bad actors to imitate or monitor, and it can be hard to tell a legitimate network from a convincing look alike. Your mobile data is generally the safer choice than public Wi-Fi by default. If you’re somewhere without a signal and need to access your accounts, a VPN is a good idea. It encrypts your connection before it leaves your device, so even an unsecured network can’t expose what you’re doing.
6. Download apps only from trusted sources.
Cybercriminals sometimes create fake banking apps designed to look like real ones. These apps may look authentic but are designed to collect login credentials or personal data.
To lower your risk:
- Download apps only from the Apple App Store or Google Play.1
- Verify the developer’s name before installing.
- Read reviews and check the number of downloads.
- Review requested permissions carefully.
A banking app shouldn’t request access to information unrelated to its function. If a request seems unusual, investigate before proceeding.
7. Keep your devices and software updated.
Software updates do more than add new features. They often fix security vulnerabilities that criminals actively target.
Protect yourself by:
- Enabling automatic updates on your devices.
- Updating banking apps regularly.
- Using trusted antivirus software.
- Setting strong device passcodes.
- Turning on biometric security features such as fingerprint or facial recognition.
It’s also a good idea to avoid accessing financial accounts from shared or public computers, which may contain malware without any visible signs. Staying current with updates is one of the easiest cybersecurity habits to maintain.
8. Turn on account alerts.
Account alerts act like an early warning system. Many banks allow you to receive notifications for:
- New logins.
- Large withdrawals or transfers.
- Failed login attempts.
- Profile or security setting changes.
The faster you flag it, the better your chances of recovering the funds. Forbright Bank offers an easy, self-service option to set up custom alerts in online banking for digital accounts. If something looks wrong, reach out to us directly.
Don’t reply to a suspicious message or call a number shared by a suspicious caller or message. Instead, contact your bank using the phone number on its website or in your online banking profile. Reporting quickly gives your bank the best chance to help.
Disclaimer: This article is for general information and education only. It should not be considered financial or tax advice.
1 Apple and the Apple logo are trademarks of Apple Inc. App Store is a service mark of Apple Inc. Google Play and the Google Play logo are trademarks of Google Inc.