7 Safe Online Banking Tips You Must Know
31 Jan 2020
Indian banks are gradually edging toward having most of their processes online. From sending money to paying bills and even investing, stepping away from traditional methods has become necessary. Though almost half of India’s population have accepted the change to online and mobile banking, many are still hesitant. The main concern is internet safety, which is valid; however, it shouldn’t hold anyone back from transacting. Here are safe online banking tips you can follow to enjoy a seamless and convenient banking experience:
It All Begins with Your Passwords
The cardinal rule for transacting online or via your smartphone is, you must have a strong password and change it regularly. This is one of the most critical and necessary safe internet banking tips. Use random numbers, symbols and letters that only you will remember. Most banks will recommend a combination of all three and some will even prompt if your password isn’t strong enough. Using upper- and lower-case letters help too. Stay away from familiar things like birthdays, names, house numbers etc. Finally, do not share your passwords with anyone, no matter what. Your passwords are unique and meant only for you.
Do not save passwords / credentials on browser and/or any apps for login.
Keep a Close Watch on Your Accounts:
Monitor your accounts’ activities frequently, especially if you transact a lot. It is one of the few tips for safe internet banking of which we become careless. You have to check your bank balances and monthly statements for any debits that appear suspicious. Reach out to your bank in case you find such or similar transactions.
Use a Secure Internet Connection
To prevent anyone from misusing your private information, one of the safe online banking tips is to use a secure, internet connection. Make sure that the wi-fi is password-protected and not free; if you’re travelling, connect with your smartphone’s hotspot. You can even choose a private browser to access your bank’s netbanking platform.
One of the safe internet banking tips is to turn on your bank’s notifications from your mobile phone. You can also opt for receiving SMS alerts. Many banks allow you to customise notifications and alerts, e.g. you can choose specific triggers like in case your account balance goes below or above a particular limit.
Sign-Out, Every Time
Once your netbanking or mobile banking session is over, remember to sign out. This is one of the tips for safe internet banking that few are aware. Uncheck the ‘Keep me signed in’ box and log out. In fact, as an added precaution, clear your browser history and cache after you log off.
Sift the Real From Fake
Phishing and calling scams have increased over the last few years. Among the safe online banking tips, you may already know of this one. Your account information, passwords, card CVV numbers, OTPs etc. are confidential. Never entertain or answer an e-mail or call that requests for any or all of these details, unless you have initiated the transaction.
Do not click on the any link provided in the email / SMS message etc. Always type the bank website URL in the address link of browser to access your account.
Leave a Comment
siddhida ashokkumar shukla09 October, 2021
i was trying to log into my a/c ., i went trhough i usr name, passwords,transaction passwords them it took me to anotner page asking more information , then it said call help desk.
Deepak J Kulkarni09 September, 2021
i wish ti change pass word
10 FASTag Rules you must know
You must already be familiar with FASTag, the path-breaking tag that enables you to zip through toll plazas without pausing. But are you familiar with all the FASTag new rules? If you aren’t, here’s what you should know so that you don’t encounter any roadblocks on your way to getting one for your vehicles
It’s compulsory now
Well, there’s no way you can wriggle out of this one now. Under the FASTag toll plaza rules, the government has decreed that all lanes will be FASTag only. So it’s now compulsory for all vehicles to have it from 15 January 2020.
How to buy FASTag
You can buy FASTag at over 20 banks, including Bank of Baroda, and other point-of-sale outlets like toll plazas. You can even order them online through Amazon.
What are the documents you need to get FASTag?
To get a FASTag, you will need to submit documents like registration certificate (RC) of the vehicle, passport-size photograph and KYC documents. A driver’s licence will suffice for ID and address proof.
How to activate FASTag?
Once you have purchased the FASTag, you can activate it at your Bank of Baroda branch. You will need to submit your documents at this stage.
How to pay tolls using FASTag ID?
This isn’t necessarily one of the rules of FASTag; however, after you buy it, attach it to the windscreen of your car. Each time you pass a toll plaza, an electronic reader reads the tag using RFID technology and charges you the toll. This amount is automatically deducted from your account or your wallet.
What are the charges that I have to pay for FASTag?
You have to pay a one-time activation fee of Rs 100, as well as a security deposit. The security deposit will depend on the vehicle and ranges from Rs 200 to Rs 400.
Can I use one FASTag for multiple vehicles?
No, this is not possible. FASTag is meant for one vehicle only.
How to recharge FASTag?
If you have chosen the wallet option instead of direct debit from your account, you need to recharge it from time to time. It’s a relatively simple process. You can log in to your account using your ID and password and use Debit or Credit Card or Internet Banking to top up your account. You can also use other methods like UPI.
Do I get a discount on tolls if I live near a toll plaza?
You can get a discount on tolls paid through your FASTag if you live within 10 km of a toll plaza. You will have to submit proof of residence to avail of this benefit.
What happens if I don’t have a FASTag?
Well, you’ll have to pay double the toll fee, which you have to pay at a hybrid lane that accepts payments over the counter.
So now that you know all FASTag rules don’t hesitate any more get a FASTag account today at Bank of Baroda!
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All You Need To Know About Different Types of Cyber Threats
Our lives are increasingly going digital. We can shop, pay bills and even complete banking transactions online. While the Internet has made our life so much better, we must use it responsibly to ensure we are safe and secure. While banks take every precaution to ensure our safety, we should also be aware of the various cyber security threats. Let’s look at the most common types of cyber security threats.
Also known as malware, a computer virus is the most common type of cyber threat. It is essentially a program that is written to alter how your computer operates, without your knowledge or permission. Once it infects your computer, the virus can cause significant damage. You can, however, prevent the virus from infecting your machines by installing good anti-virus software, using non-pirated and secure software and downloading and sharing files from authenticated websites only. Also remember to keep your operating systems and programs updated.
Spyware is among the most serious type of attacks in cyber security. A spyware is a program which monitors your online activities without your consent. It also installs programs that capture your personal information which can be misused. Again, a good anti-virus and anti-spyware program will help. Also, avoid clicking on advertisements of sites that you don’t recognise and log out of your accounts after every transaction.
Being one of the growing types of cyber threats, online phishing is a massive scam. It had become such a menace that the government released advertisements to help people recognise its own sites. A phishing scam is conducted by people masquerading as trustworthy individuals who attempt to steal your sensitive personal or financial information via fraudulent emails and SMSs. But remember, no bank ever calls to ask you for your bank account number, ATM PIN, or card numbers. So, if you get a call, email or SMS asking for your bank details; it is most likely a phishing attack. Other types of phising attacks include sending you links that resemble your bank’s website and then asking you for personal data as input.
You cannot list the types of cyber-attacks without the mention of hackers. Like in the case of phishing, hacking is a security threat that involves people, not computers. Hackers illegally gain access to other people’s computers – once they gain access, they could change, steal and even destroy information. Hackers could gain access to your bank details, lock you out of your system and even steal your identity. It is important to remember, however, that not all hackers are criminals. Many organizations use ethical hackers to test system vulnerabilities.
Vishing (voice or VoIP phishing) is an electronic fraud tactic in which individuals are tricked into revealing critical financial or personal information to unauthorized entities. A vishing attack can be conducted by voice email, VoIP (voice over IP), landline or cellular telephone. It is the telephone related scam equivalent of phishing.
Pharming is a fraudulent practice where a fraudster installs malicious code on a personal computer or server. This code then redirects any clicks user makes on a website to another fraudulent Website without your consent or knowledge. Pharming has become major concern to businesses hosting e-commerce and online banking websites. The criminal can either compromise your computer by installing malicious software in it, or redirect the traffic by infecting the server connected to your computer. Once confidential information has been entered at a fraudulent website, criminals have the information and identity theft can be the end result.
A Trojan horse or Trojan is a type of malware that is often disguised as legitimate software.
In the Greek Mythological story of the Trojan War, the Greeks, unable to break through the walls of Troy to conquer the city, hid inside a giant wooden horse which they left outside the city gates; the Trojans, thinking it was an offering to the gods, brought it inside, and the Greek soldiers, led by Odysseus, emerged at night to destroy the city and kill its inhabitants. Like Odysseus, cyber-attackers hope that you'll be fooled by a tempting piece of bait to let malicious code inside your network.
Baiting is one of the simplest social engineering techniques used by cyber criminals.
In this attack, the attacker takes advantage of human’s curiosity or greed by luring the person to do something of what attacker can take benefit to gain confidential information. Attacker may leave malware-infected flash drives or similar devices in a place easily accessible, hoping that this hardware will be inserted into network-connected computers as the means to spread malicious code.
As it is apparent, the above-mentioned cyber-attack types are indeed serious. However, with a few preventive measures, you can save yourself from becoming victims of these thefts. Remember to follow the necessary online and offline best practices to keep your systems protected. For instance, avoid saving crucial bank and social media passwords anywhere which is easily accessible to others. Also, refrain from using public Wi-Fi networks, especially while conducting financial transactions like buying things online. Investing in original software and anti-virus can go a long way in protecting your computer systems.