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Is Online Banking Safe?

The experts at National Exchange Bank & Trust agree that both consumer and commercial online banking services are safe and effective methods to bank your way! As technology evolves, more and more people are choosing online banking for its convenience and efficiency. That means it’s more import than ever to ensure you are practicing safe and secure online banking habits.

Are There Any Risks to Banking Online?

Unfortunately, there are risks associated with anything we do in life, and that includes online banking. The most common risks associated with online banking lie between the chair and the keyboard: human error. Whether that involves a lack of technical knowledge, unintentionally sharing important information, or not entirely protecting account details, being diligent is key. 

Our online banking professionals at National Exchange Bank & Trust say that nearly 98% of common risks associated with online banking are avoidable, with the remaining 2% being a factor of infectious viruses that can come out of nowhere and take over your devices without warning. We offer a variety of tools when it comes to the safety and security of your online finances, but they work best when combined with smart online banking practices.

Online Banking Best Practices

The success of your electronic finances is only as strong as you make it, so following these online banking best practices from our team of experts is recommended if you want to keep your money safe and your confidential information secure:

1. Never save your passwords to your devices. Although saving passwords in your browser is convenient and makes things quick, it can easily be retrieved by hackers and opens a world of unfortunate possibilities. 

2. Make sure your devices are up to date. Running the latest updates on your devices can provide an extra guard of protection for you or your business’s finances, because the safety of technology improves with every update. The Cyber and Infrastructure professionals with Homeland Security back this up by saying that manufacturers issue updates as they detect vulnerabilities in their products.

3. When in doubt, throw it out! If you see any suspicious or questionable emails, links, request, etc., send them to the trash. Internet thieves lurk and capture customers through look-alike phishing techniques. And, if you wish to take things one step further, then follow the instructions listed by the cyber security leaders at StaySafeOnline to avoid becoming a victim.

4. Make sure alerts are set up. Setting up alerts with online banking is like having coffee in the morning…it’s necessary. If alerts aren’t set up, then suspicious activity will never be quickly communicated, meaning that current and future risks are difficult to mitigate.

5. Safeguard private information. We strongly recommend, and the experts at Stop. Think. Connect. agree, that you should keep all of your account and private information in a safe place. For example, if you’re unable to memorize important details, like passwords, write them down on a piece of paper and store that paper in a locked drawer or secure filing system. It may seem old fashioned, but it is one of the surest ways to prevent anyone else accessing your private information.

6. Don’t give out information pertaining to your accounts. Last, but certainly not least. Regardless of the situation, you should NEVER give out the confidential information that’s related to your online bank accounts.

What To Do If Your Account Gets Hacked

A hacked bank account usually doesn’t happen unless someone opens the door for it, but if it does, then you should call your financial institution immediately. During that call, you’ll want to have a banking professional walk you through changing your passwords, closing accounts, and creating new accounts right away.

National Exchange Bank & Trust offers a variety of tools to help our customers prevent their accounts from being hacked, and those resources can be found on our SecurLOCK Equip page for personal use, and our Trusteer Rapport and Positive Pay pages for commercial use. Additionally, our diverse team of trusted professionals are either on site or on call to take questions and address concerns at any time. From our risk management staff to our customer services department, the professionals at National Exchange Bank & Trust are here to provide tools to prevent hacking and are there to assist you if it does occur.

Choosing The Right Online Banking Tool

At National Exchange Bank & Trust, our customers enjoy a variety of online banking tools and services that compare to those of larger institutions, but with a more personalized approach. Our team of experienced professionals give 110% to the success of you and your business, and we pride ourselves on providing quick turnaround times, delivering a line of open communication, and establishing long-term relationships with all of our customers. That means we’re here to help if an unfortunate event occurs.

If you’re not already using our online banking tools, we encourage you to visit our Online Banking Services and Business Electronic Banking pages to learn more about our offerings. And, as always, if you have questions on any of our online banking tools for either personal or commercial use – please get in touch. We are happy to help!

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