6 Top Ways You Can Keep Your Checking Account Safe

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6 Top Ways You Can Keep Your Checking Account Safe

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According to a 2023 study by the

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, only 9% of people still take care of their banking needs in a physical brand location. Instead, they’re relying on the accessibility of

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and banking apps.

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Try This: 4 Low-Risk Ways To Build Your Savings in 2025

Another study by

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found that 87% of Americans use their banking app at least once per month.

However, with the rise of online and mobile banking also comes an increase in cybercrime. According to the FBI, over $4 billion was lost to cyber criminals in 2020 alone. This means it’s more crucial than ever to make sure you’re protecting yourself and your money.

“I’ve talked to so many customers that can’t tell me the last time they actually looked through their bank statement,” said Nicole W., teller at Chase Bank. “They come in because they noticed an error in their account from months ago, but they’re just now noticing something’s wrong.”

Keep reading to learn what Nicole recommends anyone utilizing online or mobile banking to do so they can

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One of the worst things you can do is have a weak password. The last thing you want is to use a password like 111111 or 123456. This is going to make it much easier for criminals to gain access to your accounts.

“Use random passwords for each of your online accounts,” Nicole said. “If possible, never use the same password for more than one account. I would also suggest making it as long and as strong as possible. Use lower and upper case letters, numbers and special characters.”

If you’re using different passwords for each online account, it can get difficult to remember each of them. While you could write them down and store them in a safe place in your home, there are also several online password storage vaults available. Nicole frequently recommends 1password.com to friends and family.

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Even if you have a strong password, there’s always a chance that hackers can gain access. That’s why many organizations are now using two-factor authentication. This adds an extra layer of security to your

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.

“If you’re offered the ability to use two-factor authentication, do so,” said Nicole. “How this works is you will have your password as the first layer of defense, and then you will have a special code sent to your phone number. While someone may be able to hack your password, it will be much more difficult to get the special code sent, as well.”

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According to Security magazine, 1.76 billion phishing emails were sent in 2023, which was an increase of 51% over the previous year. Cyber criminals will go to great lengths to be able to uncover your sensitive information.

“Be cautious when you’re doing anything online,” Nicole said. “Only visit reputable websites that you trust, and only open emails from people you know. Oftentimes, thieves will use phishing emails in an attempt to get you to click links that give them access to your device. When they are successful, they have a good chance of uncovering your personal information.”

There could be times when you need to use your bank’s app when you’re out shopping, but it’s best to avoid this if possible. Using an unsecured network can make it much easier for someone to track what you’re doing.

“When you need to log in and check your bank account, try and do so at home from your secure network,” said Nicole. “Using public Wi-Fi is unsecure, and anyone with the right skills can steal your username and password after you press submit.”

If you find yourself needing to access your financial accounts frequently while you’re on the go, consider signing up for a virtual private network (VPN) on your phone. Even if you’re on a public Wi-Fi network, the VPN will provide a layer of encryption to keep your personal information safe.

Most financial institutions will give you the ability to sign up for text or email alerts if there is unusual activity on your account. With the rise in artificial intelligence, spotting fraud is going to become even easier.

“Ten or 15 years ago, most people would check their monthly bank statement to see if anything looked out of place,” Nicole added. “That created inefficiencies for tracking fraudulent transactions. Today, if we notice a transaction was made out in a location you’re not frequently at, we can send you an alert, so you can approve or deny the transaction.”

Some banks will even allow you to receive an alert each time your account is used. While this might be annoying for some people, it can help keep you in the know about what’s happening with your account.

With social media being such a big part of many people’s lives, it’s important to be aware of the information you’re sharing.

“While many people might not think about negatives to sharing information online, some things can be used to build a profile on a person,” Nicole explained. “For example, have you ever shared something about your child’s birthday? If your social media profile is public, anyone has access to your child’s name and their birthday. This information can be used for the wrong reasons.”

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