Keep these six points in mind for safety of your online bank accounts
As per the Reserve Bank of India data, the digital transactions in the month of April stood at Rs 10,960.22 crore as against Rs 14958.91 crore in March and Rs 10,405.53 crore in December.
With growing digital transactions like online payments, e-wallets, netbanking, credit and debit cards online, etc, the need to keep your digital accounts safe is also growing.
As per the Reserve Bank of India data, the digital transactions in the month of April stood at Rs 10,960.22 crore as against Rs 14958.91 crore in March and Rs 10,405.53 crore in December.
The digital transactions swinging up and down from past six months or since the announcement of demonetisation in the month of November.
But, with the rising digital transactions comes the threat which people often get trapped into.
ALSO READ: Debit card fraud? Here's what you must do immediately
Speaking with Zeebiz, Adhil Shetty, CEO & Co-founder Bankbazaar.com, explained six important things every person needs to keep in mind while making digital payments:
1. Be cautious with public WiFi networks: Make sure to connect to the right network. Hackers often setup WiFi networks with similar sounding SSIDs to lead people into believe there are two legitimate networks. Connecting to such fraudulent networks can lead to a breach of data. Moreover, it is always safer to avoid WiFi networks that are not password protected, especially if you are going to transact financially over the network.
2. Don’t save your card details online: Make sure that you do not disclose your card or accounts details to unauthorized sites or save them on any website. Your financial information can be compromised if these accounts are hacked.
3. Use OTP during transactions: Request for an OTP (one-time password) during an online transaction. This will prompt the bank to send a six-digit number through a text message on your registered mobile number, which is generated and valid only for one transaction. This is a much safer option that the password, especially on public WiFi.
4. Double check before making the payment: Reversing a wrong transaction can be quite a hassle, so it is better to ensure that you have filled in the right details.
5. Maintain Transaction Records: Save the receipts of every transaction as proof of payment.
6. Transact only over secure webpages: As a rule, opt for https over http sites.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Retirement Planning: SIP+SWP combination; Rs 15,000 monthly SIP for 25 years and then Rs 1,52,000 monthly income for 30 years
Top Gold ETF vs Top Large Cap Mutual Fund 10-year Return Calculator: Which has given higher return on Rs 11 lakh investment; see calculations
Retirement Calculator: 40 years of age, Rs 50,000 monthly expenses; what should be retirement corpus and monthly investment
SBI 444-day FD vs Union Bank of India 333-day FD: Know maturity amount on Rs 4 lakh and Rs 8 lakh investments for general and senior citizens
EPF vs SIP vs PPF Calculator: Rs 12,000 monthly investment for 30 years; which can create highest retirement corpus
Home loan EMI vs Mutual Fund SIP Calculator: Rs 70 lakh home loan EMI for 20 years or SIP equal to EMI for 10 years; which can be easier route to buy home; know maths
02:54 PM IST