December 15, 2020

Is Online Banking Safe?

With so much talk of identity theft today these days, you might be concerned about doing business with Interior Federal online. However, identity theft can also happen through traditional banking.

For example:

  • Your mail (bank statements, bills, etc.) can be intercepted.
  • The use of an ATM can expose you to either physical theft or theft of your information (such as your PIN).
  • If you pay your bills by paper check, you expose yourself to theft of your account number, as well as your phone number, which are often printed on the check.

Online banking, on the other hand, is more secure in these ways:

  • The nature of the process ensures that your business is done from the security of your home or office.
  • Since there is an ongoing awareness of identity theft, there has been a real focus on security.
  • The computers are protected by a firewall and multiple factor authentication (MFA) of log in information.
  • All data transfers use SSL encryption.
  • Card Controls feature – turn your debit card on/off to prevent misuse and theft

You can also maintain control over access to your computer, whether it is at your home or office.

  • When you have completed a transaction, log off so that you break the connection with the host server.
  • Never conduct transactions while multiple browsers are open on your computer.

Yes, you need to be careful when banking online, but in today’s world, it may actually be more secure than traditional banking. Call to speak to one of our Member Service Representatives at (800) 914-8619 or visit our website to learn more about online banking.



Related: Online Banking

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