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Online banking security

7 Tips on How to Secure Your Online Banking

The world has gone digital. Penetration of internet services coupled with the smartphone revolution has made it possible for people to transact online without necessarily having to move. Banks also joined the bandwagon by making it possible for their clients to send and receive money online from anywhere. While it brings about convenience, it equally comes with risks of cyber-attacks. Hackers are just waiting for the slightest opportunity to steal your hard-earned money. Hence you need to know how to secure your online banking. If you do not know how to go about it, relax, that’s what this guide is all about.

How do criminals steal from your online account?

Before we go through the tips on how to secure your online account, you need first to understand how cybercriminals can steal from you. This way, you can realize your vulnerability.

  1. The first step for cybercriminals is to get your internet banking details. They achieve this through phishing or a keylogger installed on your device. They aim at getting hold of your account login details such as your account number, username, and password.
  2. The second step for the fraudsters is to create a new bank count since they require an active account to withdraw the money. They achieve this by using fraudulent details or even using an existing bank account of the unsuspecting person.
  3. Now that the fraudsters have your login details and accounts where they can transfer the stolen money, they need a Sim swap to get the one-time password that the bank usually sends you via SMS.
  4. Immediately they have all the above, they create beneficiaries and transfer the money to the beneficiaries.
  5. The final step is the withdrawal of your money. In the case of ATM, the transfer is usually done shortly before midnight. That way, they can withdraw the maximum daily amount before midnight and the same amount immediately after midnight. After that, they destroy your card.

That’s how cybercriminals go about stealing the money from your online bank account. Now let’s look at how to secure your online banking:

How to secure your online banking

1. Excellent password practices

Securing your online banking begins with exercising good password practices. Some of the best password practices include:

  • not sharing your passwords with anybody
  • memorizing your passwords so that you don’t have to write them down
  • covering your passwords to make sure they are not seen when you enter them
  • use PIN and passwords that are difficult to guess. Avoid using your names, your family member’s names, number plates of your vehicles, your pets name, birth date, and so on
  • avoid reusing passwords
  • change your passwords regularly
  • if you suspect your bank account password or PIN is compromised, change it immediately
  • registering for notification services from your bank could keep you informed of any activities involving your account

2. Ensure you are logged into your bank’s real internet banking website

Phishing scams are on the increase. You have to ensure that you are on your bank’s site and not a fake website aimed at stealing your banking details.

  • avoid accessing your bank’s website through Google search. Instead, type in the web address. Using Google search could easily land you on a spoofed site
  • avoid clicking to links in emails purporting to originate from your bank. Such links may lead you to phishing websites
  • before you log into any website check whether it’s secure, make sure that the web address begins with https instead of http. An https website uses an SSL certificate to encrypt your data and protect it from cybercriminals
  • remember to log out of your internet banking website after you are through with your banking activities

3. Use Separate emails for each of your online accounts

It is not wise to use a single email address for all your accounts. If a hacker gets your logging details, all your accounts get compromised, and the loss could be huge. Also, when you use different emails for each of your accounts, you can detect abnormal activity. For instance, if you receive a message in one of your email account about another of your email accounts, you can tell that someone is up to something because the accounts are unrelated.

4. Use Two-Factor Authentication

Two-Factor Authentication adds a level of security on your online banking account. Even where someone gets your login details like password and username they would be required to do something else like enter a code sent to your mobile phone via a text; tap a confirmation button on your smartphone or authentication using a security key to gain access to your account. It is advisable to enable two-factor authentication for your password manager.

5. Clear your cache

Saved searches, saved cookies and your web history could give away your sensitive data. Thus, it is advisable to clear your browser history and delete your browser cookies regularly.

6. Secure your PC

The PC you use for your online banking should be secure. Apart from ensuring that the software and browser you use are up to date and well patched, you must use a  good antivirus will among other things protect your PC from all sorts of malware and Trojans, ransomware, and phishing campaigns.

7. Use a VPN to secure all your online activities

The increase in cyber crimes such as hacking and identity theft requires us to protect all our online activities proactively. The best way to achieve this is by subscribing to the best VPN service. A VPN provides an encrypted tunnel where your data transits safely away from cybercriminals. You also get protection from prying eyes and thus browse the internet privately so that you are the only one who knows what you are doing.

A VPN will also enable you to access your bank account even when you are abroad. You simply connect to the VPN server in your country and spoof your location to appear as if you are accessing your internet banking website from your country. Furthermore, a VPN will enable you to access Geo-locked streaming services, and also get the best deals when shopping online.


Knowing how cybercriminals steal your money from your internet banking account, and how to secure your online banking from such criminals is essential. Following the tips in this article will go a long way to help you secure your online banking.


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