Ten Ways to Keep Your Money Safe Online

Life is busy. We spend our waking hours working, learning, parenting, caretaking, exercising, cooking, shopping and feeling guilty about all the things we didn’t do. The list is endless, and it all takes time, so something has to give.

People are shopping and banking online these days in record numbers. The convenience of being able to shop or bank whenever one chooses is enticing, even for the most resistant user. In fact, according to Statista, over 85% of the US population shopped online in 2024 and that number is projected to exceed 97% by 2029. Additionally, the American Bankers Association stated that 55% of bank customers use “apps on phones or other mobile devices as their top option for managing their bank accounts” while 22% use online banking on laptops or PCs in 2024.

The convenience of conducting many of your to-do’s online can be a game changer but it also comes with security challenges. In this blog, we’ll discuss ways to keep your money and personal information secure.

1. Strengthen Your Passwords and Use Biometrics

A strong password is your first line of defense. Create unique passwords for each of your accounts, combining uppercase and lowercase letters, numbers, and special characters. Avoid using easily guessed information like birthdays or names. Consider using a sentence or phrase that would only mean something to you and substitute numbers and symbols for letters or words. Microsoft even offers a password generator when you are prompted to create a password, saving you time and effort.

A second layer of added security is to use biometrics whenever possible. Your fingerprints, voice or face (retina patterns) are unique to you so almost impossible to hack. Using biometrics is more convenient than typing in a password every time but you'll still need a strong password in case the reader can't scan your biometrics due to wet fingers or poor lighting. 

A combination of a strong password and biometrics does double-duty in protecting your information.

2. Use Multi-Factor Authentication (MFA)

Whenever possible, enable multi-factor authentication. This adds an additional layer of security by requiring another verification step, such as a code sent to your phone, in addition to your password. This way, if your password is hacked, the cybercriminal won’t be able to complete the second authentication request that would go to your phone or email. While it may be a bit annoying, it’s an effective way to prevent being hacked. Jen Easterly, the Director of CISA (Cybersecurity & Infrastructure Security Agency, a division of Homeland Security.) noted that by enabling MFA “can make you 99% less likely to get hacked.” .

3. Be Cautious with Public Wi-Fi

Public Wi-Fi networks are convenient but can be risky because they aren’t private. Before logging into financial accounts or making transactions over public Wi-Fi, ensure the website is encrypted by looking for the lock symbol and or https in the address found just before the website’s address.

4. Monitor Your Accounts Regularly

Check your accounts frequently for any unauthorized activity. Crews Bank & Trust offers real-time alerts for transactions, helping you quickly detect and respond to suspicious activity. Do regular credit checks to no unauthorized accounts have been opened in your name. Close out unused credit cards to prevent fraudulent access.

5. Stay Alert for Scams

Online and text scams are becoming increasingly sophisticated. Beware of phishing scams - emails, texts, or calls that appear to come from a real company but ask for sensitive information or prompt you to click on a link. Crews Bank & Trust, or any reputable institution, will never ask for your password, PIN or social security number via email or phone.

Below is an actual text sent to a customer. Note the @ sign instead of the A in “Bank,” the odd punctuation after “ALERTS,” and the # sign instead of a $. - these are all red flags! Never respond to a text like this – don’t type in “STOP” and don’t click the link. Instead, call or visit your bank or the company for confirmation.                         

If you receive something unexpected that appears legitimate but just feels a bit off, always reach out directly to the company through its official website or customer service line. It’s always better to exercise caution than to impulsively click a link.

6. Use Secure Websites

Always ensure the website you are using is safe by checking that it has "https://" at the beginning of the URL, indicating a secure connection. (Don’t be fooled – look for the “s” as unsecured websites start with “http:// which looks similar but lacks the security measures.) Also, check for the padlock symbol in the browser’s address bar.

7. Keep Software Up to Date

Regularly update your device's operating system, web browser, and apps. Updates often include patches for security vulnerabilities that hackers can exploit.

8. Limit Personal Information Sharing Online

Be mindful of sharing sensitive information online. The less personal information you expose on social media or unsecured websites, the less likely you are to become a target for identity theft. Cybercriminals can gather details from social media such as your birthday, location, school, workplace, family and pet names and use that information to tailor phishing attacks specifically to you.

9. Download Apps from Trusted Sources

Only download apps from reputable sources like Google Play or the Apple App Store. Before downloading an app, read the reviews and scroll down to learn the app’s data safety policies (Google and Apple) to ensure the app is developed by a trusted institution before installing.

10. Back Up Important Data

In case of a security breach or ransomware attack, having backups of your important data ensures you won’t lose access to critical files or information. Using an external hard drive or a cloud storage service like Google Drive, Dropbox or OneDrive. Keep in mind some services offer free storage but if you go exceed the limit without purchasing additional space, new data may not be backed up.

Stay Vigilant

Slowing down and carefully examining any text or email—especially if it’s unexpected—can help prevent you from being hacked. Cybercriminals rely on urgency and distraction. Taking an extra moment to verify a message could save.

Worried you've fallen victim to a scam or fraud? We can help!