Ensuring Online Banking Safety for a Worry-Free August Summer Holiday

As the August summer holidays begin, people across Britain are beginning to look forward to well-deserved relaxation and quality time with family and friends, as well as in many cases, travel overseas.

In this period of relaxation, it is important not to overlook the need for online banking safety. In this era of advanced technology, there are some methods of keeping your financial information secure ensuring a worry-free holiday period.

Update and Strengthen Your Passwords:

One of the simplest yet effective ways to enhance online banking security is to update and strengthen your passwords. It would be worth creating separate passwords for each financial app, employing a combination of uppercase and lowercase letters, numbers, and special characters. Consider using a reputable password manager to securely store your passwords and generate strong, random ones.

Enable Two-Factor Authentication (2FA) On Your Monevium App

To add an extra layer of protection to your online banking accounts, Monevium’s app provides the security of two-factor authentication. It is recommended to enable two-factor authentication whenever possible. With Monevium's 2FA, even if your password is compromised, an additional verification step, such as biometric facial recognition or a unique code sent to your phone, is required to access your account.

Regularly Monitor Account Activity:

Keep an active eye on your online account by checking it regularly and activating notifications or alerts to receive updates on any suspicious or unauthorised activities. If you notice any transactions that you did not make, it is imperative that you report them to the financial institution immediately in order that these can be dealt with efficiently and appropriately.

Be Wary of Phishing Attempts:

Phishing remains a serious threat to online banking security despite huge advances in cyber security in recent years. Never respond to requests for personal financial information or requests that you log into your account via unorthodox methods such as text messages or phone calls or to attempts to direct you to unfamiliar websites. Legitimate banks never ask for personal information through apparently amateur channels such as these or from private email addresses or mobile phone numbers. Instead of clicking on provided links, only use Monevium's secure app by logging into it and conducting your financial transactions from within the app itself.

Secure Your Devices and Networks:

Ensure that all devices used for online management of your funds, such as laptops, smartphones, and tablets, have up-to-date security software installed. Keep your operating system, antivirus, and banking apps which are installed on laptop or desktop with the latest security updates. When accessing your accounts, opt for secure networks, preferably encrypted Wi-Fi connections or mobile data instead of public Wi-Fi, which can be vulnerable to hackers.

Use Secure Banking Apps:

Install and use the official Monevium app and enable two-factor authentication. The Monevium app has been designed with the highest level of security measures and encryption protocols, making it far safer than the traditional method of accessing your accounts through a web browser. Be cautious of unofficial apps and only download the app from the official channels.

Avoid Public Computers and Devices:

When traveling during the holiday period, never use public computers or anyone else's devices for any online banking transactions. These devices may have malware installed, compromising your sensitive information. Instead, wait until you have access to a trusted personal device or use your smartphone via a secure internet connection or cellular network and only use the Monevium app to access your account.

Regularly Adjust Your Privacy Settings:

It is generally good practice to reset your privacy settings within your online banking apps. It is worth becoming knowledgeable with the available options to control who can access your account information and always choose the highest privacy settings and always keep them up to date.

Overall, this is a high-tech world, and those attempting to defraud people out of their funds have also become more advanced. Therefore, keeping one step ahead of them and making it difficult for them to target your account is vital, and Monevium is here to help you do just that.

Monevium is the trading name of Advanced Wallet Solutions Limited, a company registered in the UK under company number 10251711 and is authorised by the UK’s Financial Conduct Authority under Firm Reference Number 766038.