Follow some simple steps when doing your banking to stay safe online.
Follow some simple steps when doing your banking to stay safe online. AndreyPopov

7 simple steps to keep your money safe online

THE Australian Banker's Association recommends the following simple steps to staying safe online when doing your banking.

ABA's executive director for retail policy Diane Tate said the most important tip to remember was "when doing online banking, it's important to take steps to keep your personal and financial information secure".

To achieve this, Ms Tate's said you should:

1. Learn how to operate your device and protect it with anti-virus software.

2. Ensure your computer has installed the latest version of its virus protection software.

3. Always click out from the banking app or logout of the banking website when you have finished, then close the browser.

4. Use a trusted app or type in the URL of the required website; don't use a link from an email.

5. Protect your password and personal information at all times; never provide personal details, including customer ID or password, in response to an email. A bank will never ask you for your password.

6. Talk to the bank about their tools to inform you of transactions on your account, such as alerts when account activity occurs.

7. Be aware of your rights and responsibilities under the ePayments Code which all banks are a party to. If you are victim of fraud you will be covered by this code.

"Encouragingly, our consumer research shows that 80% of people aged 65 and over reported that they were informed or very informed about how to protect their accounts and card products from fraud," Ms Tate said.

For more banking protection advice, go to the fact sheets on www.betterbanking.net.au


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