Forgetting to take out the trash or running late for a date – all these goofs have minor consequences. However, when it comes to online Banking, a small mistake can make you suffer a lot. Here is a list of mistakes that you must avoid using online banking.

1. Stop ignoring your accounts – Make sure to take out some time to monitor your checking and saving accounts activities. This will help you in tracking the fraudulent transactions. So if you notice any unusual entry in your Account, contact your bank immediately.

2. Having a weak password for online banking – We know short passwords are easy to remember, but the strong password will keep hackers and snoopers out of your online accounts. Create a unique username and password for your online bank account. Moreover, avoid sharing the same passwords with other accounts, such as email, Facebook, Amazon, etc. Keeping single password for every account means that a single hacking incident could put your sensitive financial information at risk.

3. Being careless with your phone – From calling and texting to getting driving directions to consuming media, we rely on our smartphones. According to a Federal Reserve study, “One out of every two smartphone owners use mobile banking to operate their bank accounts.” In this case, make sure that you don’t give your phone to any stranger or a person whom you don’t trust. Moreover, don’t lose your phone, losing phone somewhere can increase the risk of fraudulent transactions in your account.

Here are some more things that you must keep in mind while using mobile banking are:

· Use only official mobile banking apps, downloaded from the iTunes or Google Play stores.

·If your bank doesn’t have an app and you need to transact on the go, make sure when you visit its website that the address starts with “https://” — that means the site takes increased security measures.

·Avoid logging in to your bank account over public Wi-Fi, as this can be a hotbed for password-hungry criminals.

So with a little attention, you can avoid mistakes that can have major consequences.  Need to know anything about Bayport online banking, do let us know in the comment section below.