I’m a Bank Teller: 6 Top Ways You Can Keep Your Checking Account Safe

November 7, 2024 Written by Sean Bryant

According to a 2023 study by the American Banking Association, only 9% of people still take care of their banking needs in a physical brand location. Instead, they’re relying on the accessibility of online banking and banking apps. Another study by Chase found that 87% of Americans use their banking app at least once per month.

However, with the rise of online and mobile banking also comes an increase in cybercrime. According to the FBI, over $4 billion was lost to cyber criminals in 2020 alone. This means it’s more crucial than ever to make sure you’re protecting yourself and your money.

“I’ve talked to so many customers that can’t tell me the last time they actually looked through their bank statement,” said Nicole W., teller at Chase Bank. “They come in because they noticed an error in their account from months ago, but they’re just now noticing something’s wrong.”

Keep reading to learn what Nicole recommends anyone utilizing online or mobile banking to do so they can keep their accounts safe.

Use a Strong Password

One of the worst things you can do is have a weak password. The last thing you want is to use a password like 111111 or 123456. This is going to make it much easier for criminals to gain access to your accounts.

“Use random passwords for each of your online accounts,” Nicole said. “If possible, never use the same password for more than one account. I would also suggest making it as long and as strong as possible. Use lower and upper case letters, numbers and special characters.”

If you’re using different passwords for each online account, it can get difficult to remember each of them. While you could write them down and store them in a safe place in your home, there are also several online password storage vaults available. Nicole frequently recommends 1password.com to friends and family.

Use Two-Factor Authentication

Even if you have a strong password, there’s always a chance that hackers can gain access. That’s why many organizations are now using two-factor authentication. This adds an extra layer of security to your bank account.

“If you’re offered the ability to use two-factor authentication, do so,” said Nicole. “How this works is you will have your password as the first layer of defense, and then you will have a special code sent to your phone number. While someone may be able to hack your password, it will be much more difficult to get the special code sent, as well.”

Be Cautious of What You’re Clicking Online

According to Security magazine, 1.76 billion phishing emails were sent in 2023, which was an increase of 51% over the previous year. Cyber criminals will go to great lengths to be able to uncover your sensitive information.

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