Tips to Help You Feel Safe about Online Banking
ENABLE MULTI-FACTOR AUTHENTICATION
Multi-factor authentication provides an extra layer of security whenever you log in. Baker Boyer’s online banking requires this method and it is a good practice to use in all digital financial transactions. In addition to your username and password, you choose a unique profile photo and three unique questions that will activate when a login from a new device is detected.
CREATE A STRONG, UNIQUE PASSWORD & DISABLE AUTOMATIC LOGIN OPTIONS
Creating a strong password is vital in today’s online atmosphere. Incorporating numbers and special characters when selecting a password can help strengthen it. We also suggest changing your password on a regular basis. Although it is convenient to have your information automatically stored, it is a best practice to not store passwords, especially for any online accounts that hold your financial information. Choose unique passwords for sensitive accounts like online banking. If a list of users and passwords held by any company or website is compromised, the thieves will likely try that password on your financial accounts as well.
BEWARE OF PHISHING CALLS, TEXTS & EMAILS
Always be very cautious if someone calls, texts or emails you and asks for personal information, such as social security or account numbers. Read our article here about recent social security scams. Don’t click on suspicious links or respond to texts you aren’t sure about—trust your instincts and contact us if you have any doubts about a message from us. We will never request your online banking password.
UPDATE YOUR DEVICES & USE ANTIVIRUS SOFTWARE
The use of anti-malware and antivirus software are important steps in protecting your financial information. Always keep the software and operating systems up-to-date on your computers and mobile devices by enabling automatic updates for the software you are using. This is an important line of defense.
SECURE YOUR PHONE, TABLET & EMAIL
Use a passcode to lock your phone and tablet. With these devices unlocked, someone could access your email or other private information and use that for financial fraud. Many software programs use your email for password resets, so it is important to add an extra layer of protection, especially on your phone that could be more easily lost in public. Consider using biometric devices such as thumbprint scanners or facial identification as well. Try to keep sensitive data out of your emails, such as social security, bank account, or credit card numbers. It is also important to change your email password occasionally, as well as anytime you suspect fraud online.
Do not use rooted or jailbroken devices or use unofficial apps on your phone. These practices can weaken your devices' built-in security features and increases your risk for cyber fraud.
A NOTE ON SOCIAL MEDIA & ONLINE BANKING
When hackers are looking for information to use for financial fraud, they search for social media profiles. Keep in mind what you share and what others may share about you, and don’t use that information for accessing accounts. For example, your mother’s maiden name or the names of kids or pets might be easily obtained. Be aware of your personal privacy settings on social media accounts and review them occasionally for changes.
ACCESS YOUR ACCOUNT FROM A SECURE LOCATION
Since public Wi-Fi networks aren’t secure, and generally not encrypted, hackers can find easy ways to access and steal information. Do not log into your online banking account over a public network. Be aware that Online Banking can be accessed through your phone’s browser as well as your laptop or desktop computer and needs the same protections. If you need to access your account or make a transaction away from your password-protected home network, it is best to utilize your cellular data or personal Virtual Private Network (VPN) software.
SET UP ACCOUNT NOTIFICATIONS & MONITOR YOUR ACCOUNT REGULARLY
As always, we encourage you to consistently review the most recent transactions on your account to verify that all transactions are valid. You can also customize account notifications regarding withdrawals, purchases, deposits, and balance minimums. These alerts could potentially notify you of suspicious account activity. For example, you could receive a notice if a withdrawal exceeds a predetermined dollar amount or your balance drops below a certain level. If you discover any unauthorized transactions or have any questions on how to set up alerts, please visit any Baker Boyer branch or contact us at (509) 525-2000 or (800) 234-7923.
DEBIT CARD SECURITY TIPS
If you misplace your card call us or use your Baker Boyer Mobile Banking app to temporarily suspend the card while you look for it. In addition to contacting us, you can also report the card permanently lost or stolen with the Mobile app. If you think someone saw or knows your PIN, you can easily change your debit card PIN at Baker Boyer ATMs anytime, as well as at our branches. For more information about Debit Card Fraud Protection, please visit this page.
BAKER BOYER DEBIT CARD SECURITY
Here are a few of the ways we’re ensuring your Baker Boyer Visa® Debit Card and ATM transactions remain secure:
- Baker Boyer Visa® Debit cards use chip technology. This provides enhanced fraud protection every time you use your card at a chip-activated terminal.
- We continually improve our process to quickly replace any debit cards in the event they are involved in any fraudulent activity.
- All of our ATM machines in the Walla Walla Valley now have ActivEdge technology which prevents ATM skimming.
5 STEPS TO HELP PREVENT ACH & WIRE FRAUD
To keep your financial information safe, it is important to be proactive. Introducing these methods will lessen the likelihood of ACH and wire fraud and help monitor your business accounts.
- Know your vendors and be aware of any suspicious transactions on your account.
- Set limits and review periods on ACH/wire transfer transactions.
- Have the latest anti-virus and malware prevention programs running on your devices where payments are processed.
- Never respond to emails, download programs, or open attachments from foreign or misspelled email addresses asking for business account information.
- Stay up-to-date on news topics concerning ACH and wire fraud and have regular discussions with your employees, customers, and banker.
Failing to monitor ACH and wire payment activity can be costly for your business. While not all fraudulent activities are easy to detect, taking these preventative measures will ensure that your company's finances are more secure. Keep in mind that electronic payments are safer than printing and mailing a check with your bank account and routing number. If you have any concerns, please reach out to your Business Advisor or to the Cash Management Department: CMSupport@bakerboyer.com