Keeping Your Money Safe
Your bank account holds more than your money. It also holds information that needs protecting.
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Banking today can happen almost anywhere—at a branch, at an ATM, on your phone, on a computer, or even through a text message you believe came from your bank.
That convenience can make managing your money easier. It also means knowing a few basic ways to protect your account is an important part of banking.
You don't have to understand every type of scam or become a security expert. Start with a few simple habits.
You don't have to understand every type of scam or become a security expert. Start with a few simple habits.
Protect Your Information
Your PIN, passwords, security codes and account information help protect access to your money.
Be cautious about sharing them—even when someone contacting you appears to know information about you or your account.
If you're ever unsure whether a call, text or email really came from your financial institution, stop the conversation and contact the institution yourself using a trusted number, such as the number on the back of your debit card or on its official website.
Slow Down Before You Act
Messages involving money can sometimes create a sense of urgency:
“Your account has been compromised.”
“We need to verify your identity immediately.”
“Send this money now.”
“Give me the code that was just sent to your phone.”
Feeling rushed is a good reason to slow down.
Before sending money, sharing information or clicking a link, give yourself time to verify what's happening.
Check Your Account Regularly
You don't have to wait for your monthly statement.
Take a few minutes periodically to look through your account activity. Make sure you recognize the purchases, withdrawals and transfers you see.
If something doesn't look familiar, don't assume you'll remember it later. Investigate it.
Use Your Bank's Security Tools
Your financial institution may offer tools such as transaction alerts, account notifications, card controls and security settings.
Take a look at what's available to you and decide which alerts could help you notice unusual activity quickly.
If Something Doesn't Look Right
Don't be embarrassed to ask questions.
If you see a transaction you don't recognize, believe you've shared information with the wrong person, lose your debit card, or simply think something may be wrong, contact your financial institution as soon as possible.
You don't need to diagnose the problem before you call.
One Thing to Do Today
Log into your bank account and find your alerts or notifications settings.
Ask yourself:
“If something unusual happened in my account today, how quickly would I know?”
If the answer is I'm not sure, that's a great place to start.
Adile's Tip
When money is involved, slowing down can be a form of protection.
You don't owe anyone an immediate financial decision. If something doesn't feel right, stop, verify, and ask questions before you act.
Want to keep learning?
Explore the other Banking Resources in your AFP Resource Library.
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For educational purposes only. American Financial Pathways provides financial education and does not provide individualized financial, investment, legal, or tax advice. Account features, fees, requirements and options vary by financial institution. Contact your financial institution for information about your specific account.
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