Keep Your Banking Information Private

October 22, 2010

Many readers have expressed their concerns with online/mobile banking and banking security in general. Having your banking account hacked, financial situation exposed, and even money stolen, can be a very scary and unforgettable experience. This is why I really wanted to advise you guys to keep your banking information private. How can you do this? Below are a few quick tips to protect your finances when it comes to banking:

Check your accounts.

I find it to be critical that you check your bank accounts every few days. Not only does this keep you updated/focused on your financial goals, but it allows you to keep a tab on things. I personally just like to stay focused on my financial goals by checking my accounts to see how close (or how far) I am from my goals.

A friend of mine recently checked his bank statement only to find out that he had been missing $1,000 for a few days. Thankfully, he caught this in time and contacted the fraud department to inform them of what happened. The money was eventually returned and it was a good thing that he checked his account when he did.

Don’t share any info over the internet.

Never share any of your banking information with anyone over the internet. Your bank manager or anyone from your bank will never email you asking you for your online banking password or your pin number. I get emails from “ING” and “Facebook” all of the time telling me about some issue that happened and how they need my password to resolve everything. I don’t think so! Never share any of your banking information over the phone or through the internet.

Trash old records.

Some documents are important to keep. Other banking documents need to be trashed ASAP. You don’t want to have confidential information lingering around. This is why you need to tear up all of your banking mail once you’re done looking it over. You don’t want to risk someone finding out about your banking information.

How do you keep your banking information private?

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