Modern banking is entirely technology-driven, and technology is becoming increasingly important because the security of a person’s money is becoming highly essential. A survey states that frequently there are instances of cyber criminals have attempted to extort money. The online bank open account has made managing your money easier and increased your accessibility. Mostly experts advise senior citizens to utilize digital technology carefully. Here are the guidelines for seniors who are using digital banking:
Antivirus software usage
Numerous viruses might be downloaded onto your computer or mobile device while browsing. Such viruses can read your sensitive data, including your personal information, passwords, debit and credit card numbers, CVV, PIN, and other details. Installing antivirus software and timely renewing it are advised in order to prevent this. It would help if you exercised to notice while downloading any unauthorized apps because they have access to all of your private data. It is therefore recommended that you also run antivirus on your mobile device.
Switch on Transaction Alerts
Checking your transactions is a good idea, if you do high-value online purchases. You should contact your bank right once if you notice any difference. After completing a specific transaction, remember to review the transactions. Enabling SMS and email transaction alerts can assist you in keeping track of your bank account. Every time a transaction occurs in your account, you will be notified. This way, senior citizens may confirm each and every money transaction easily.
Unique Passwords
People, especially seniors, frequently use the same ID and password combination for all their accounts. If the login credentials for one of your accounts are taken, your other accounts could be in danger. Always make sure to generate unique passwords for every account that are challenging for scammers and fraudsters to crack. Therefore, it is not a good idea to choose a password that contains your name and date of birth. Try write down your passwords in your own diary if you are worried that you could forget them.
No public Wi-Fi
Using Wi-Fi in public places like restaurants and airports is not a good idea. Therefore, it’s advisable never to use these open networks to log in or open an online banking account. Doing so may expose your account information to potential hackers who can exploit the public Wi-Fi network. In such situations, it’s recommended to choose your cellular network over public Wi-Fi when using your online banking app. This way, you can ensure the security of your online banking transactions..
No Data Exchange
You may be aware of not sharing login credentials and OTP information with anyone. But still, some people, like senior citizens and beginners, tend to make this mistake. It is advised not to share your online banking login information with anyone. You should not give out your account ID or password if a caller identifies as an executive from your bank. Remember that banks and other financial institutions would never request your account information, including password and OTP information.
Closing Words
When senior citizens open account online, they should keep these above-mentioned points in mind. It may offer various conveniences for seniors, but being aware will help them stay away from fraudulent activities.
