Avoid these online banking mistakes


Online banking mistakes to avoid

When it comes to online banking, a simple mistake can have big consequences. The cyber-crime rate is increasing so much as a result of new technology. So, if you’re often using internet banking or cellphone banking, knowing what you can do to keep your information protected is crucial.

By being mindful of the following 3 common mistakes, your money should stay where it belongs — with you. So too will your financial information.

  1. Having a simple password

Are you guilty of having the same password across all your internet banking and social media accounts? Perhaps your passwords are usually a combination of birthdates of important family members. If so, you’re putting yourself at risk.

Creating a unique and complicated password — a combination of upper case and lower case letters, numbers and special characters. This will make it much harder for criminals to figure out your password, which means your financial information will stay safe and your money protected. Also, update this password regularly.

  1. Your phone being easily accessible

We rely a lot on our cellphones for calling, texting, keeping up with the news, social media and even mobile banking, so it’s easy to fall into the trap of thinking that a simple app download couldn’t cause any harm.

Only download phone banking apps from official websites like iTunes or Google Play stores, or go directly to your bank’s website. (Hyperlink). And if you prefer internet banking, visit websites where the address starts with https://.

  1. Not paying attention to your accounts

Life gets busy, and regularly making time to go through your accounts and your bank statements is often overlooked. This however means that you could be a victim of a crime and not even know about it.

Set aside a few minutes each day to monitor the activity in your bank accounts. This way, you’ll spot fraudulent transactions and stop cybercriminals before they can put an even bigger dent in your wallet.

Up Next

Surprise your dad this Father’s Day
Sunday is Father’s Day! While many of us can’t gather around the table to share a special meal with those we call “dad”, there’s plenty of ways to make this Father’s Day meaningful. Here are some ideas.

Publish Date: 19/06/2020
Read more
Personal Loan up to R250 000 Online
Get a Personal Loan up to R250 000 from African Bank. Enjoy our low interest rates and flexible repayment schedule, with easy online loan application. We Say Yes More.

Publish Date: 07/07/2020
Read more
Tips to cut costs and save money
In a time of economic uncertainty, we could all use some tips and tricks to guide our spending. These are a few of the things you can do to cut costs and save some money

Publish Date: 13/07/2020
Read more
Protect yourself against card skimming in South Africa
Card scams are on the rise in South Africa, leaving many completely blindsided and with empty bank accounts, or debts they didn’t sign up for. How did the theft happen? We show you how in this blog

Publish Date: 16/07/2020
Read more
Why opening a fixed deposit investment account can benefit you?
Invest today with a Fixed Deposit from African Bank. Enjoy SA’s best investment rate at 12.33%, along with an easy online application. We Say Yes More

Publish Date: 05/08/2020
Read more

About African Bank

Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.