Ways to Keep Money Safe in the Digital Age

By on May 5, 2015
keep money safe

Ways to Keep Money Safe in the Digital Age

 keep money safe

Look for FDIC-insured accounts.

When using your online bank accounts, which often offer competitive interest rates on savings accounts, you’ll want to ensure your short-term savings are in FDIC-insured accounts. This means the government insures your money for up to $250,000 per owner.


Check App Security Reviews/Features

Whenever you download a new banking app or shopping app for your phone or tablet, you’ll want to definitely check its security protocols before using them. Most apps for banks or financial institutions have highly developed security systems in place that customers can easily access. If the security information isn’t readily available, or you have any doubts about whether you should share personal info like passwords with the app, then consider skipping that particular download.


Avoid Sketchy Websites

Websites that are poorly designed or have tons of annoying pop-up windows, are usually a sign that they aren’t a legitimate retailer. To keep money safe, stick with big-name retailers or, on smaller sites, familiar payment options like PayPal. If you still want to make the purchase, use your credit card and not your debit, because most credit cards have strict fraud protections in place. If a thief gains access to your bank account through a debit card, though, he could steal potentially steal your savings.


Don’t Click Hyperlinks in Suspicious Emails

Fraudulent emails and fake websites request personal info such as Social Security numbers. Legitimate businesses seldom make such requests. Shoppers should not share this information online or with anyone for that matter. You’ll also want to take the necessary steps to protect your children’s numbers, too. While pediatricians and other doctors often ask for Social Security numbers on paperwork, you don’t have to share them in order to keep money safe.


Schedule/Plan for Monthly Paperwork Review

Reviewing your credit card and bank statements each month can help consumers catch any small errors, as well as initial signs of fraudulent activity. If any charges seem incorrect, let your provider or bank know. It could prevent major headaches down the road.


Don’t be Afraid to Cancel an Order/Request a Refund

Shoppers have the right to cancel orders and get refunds if orders are late or show up damaged. If the retailer resists the refund, shoppers can call on their credit card companies for assistance. Stopping payment to the retailer is another option.