Tips for Secure Online and Mobile Banking

posted 7/7/2014 in General

Technology has made banking services easier to access from your mobile phone and home computer. With this ease of use, it’s important to remember that along with the convenience, added security measures are advised. It is also important to be cautious with your mobile phone.  If your cell phone could be accessed by others, having a password lock on your phone’s home screen provides an extra level of security.

Lincoln Savings Bank offers a variety of online services: online banking, mobile banking,  myLSB smartphone app, and text message banking.  For all of these services, we stress the importance of password security and we also have a level of fraud detection that most banks don’t offer called Risk and Fraud Analytics.  Risk and Fraud Analytics works in the background while you are using LSB’s online and mobile banking services, monitoring your behavior and preventing fraudulent transactions.  Risk and Fraud Analytics doesn’t require LSB customers to do anything, it’s working in the background all the time to protect them.  There are measures you can take to keep your banking secure through password best practices.  Message and data rates from your cellular carrier may apply when using mobile banking and the myLSB app.

Ways to make passwords for your online banking secure:

  1. Do not use the same password for various accounts. It may be easier to remember only one password for your Facebook, online banking, and email. However, you should never use the same password because if a hacker finds one, they have access to every other account you have. Save yourself from this vulnerability and come up with a different password for each account.

  2. Do not share your password. Sharing banking passwords can cause troubles if the other person forgets to log out and it is a hassle if they make transactions you did not approve.  

  3. Avoid accessing accounts on unsecure networks. It is best practice to not use hotel or airport Wi-Fi or public computers to look at banking information. Hackers can access your information from these types of networks more easily.

  4. Change your password frequently. Consider changing your password every month.  Set a goal to change your password the same time each month. It will get you into a good habit of keeping your online banking information secure.

  5. Make your password at least eight characters (a requirement for LSB’s online services). The longer, the better, because long passwords are more complicated to crack. Always have at least one upper case letter, lower case, number, and symbol in there because it is more secure.

Lincoln Savings Bank encourages you to use our electronic banking services, but we want you to do so in the most secure manner possible.  A few small steps can help prevent your sensitive account information from falling in the hands of a fraudster.

Lincoln Savings Bank, Member FDIC

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