Chris Boxall
Practical tips for banking safely while on the go
The holiday season is upon us, and many people have planned their vacations or are preparing for their much-awaited family gatherings. This is a great time to take advantage of the peak travel season offers and explore new destinations that you and your family can enjoy over the holidays. However, it is worth bearing in mind that travelling can come with some possible risks to you and your finances. Therefore, vigilance is key to ensure that you keep your money safe and avoid falling victim to fraudsters that are eagerly finding smarter ways to scam or defraud people during the festive season.
To ensure you can relax and enjoy your holiday travels without worrying about your banking security, here are some essential and practical tips:
- Avoid using public Wi-fi and use secure internet connections instead
When banking on the go, always ensure that you only connect to secure and private internet connections. Do not use public Wi-Fi networks for any banking transactions whatsoever, as these can be easily intercepted. Instead consider using a password protected Wi-if network familiar to you, a VPN (Virtual Private Network) or your own mobile data.
- Enable Two-Factor Authentication (2FA) on your banking app when making online purchases
To protect your bank accounts and personal information from online scammers, we suggest using FNB’s Smart inContact tool which is the bank’s recommended 2FA mechanism. This added layer of security ensures that even if someone has access to your login details, they will still need a second form of verification to complete any transactions.
- Keep your physical bank cards safe and use a Virtual Card for all payments where possible
To safeguard you or your loved ones, rely on FNB’s virtual cards, contactless payments or digital wallets, where possible for added security. Your FNB Virtual Card reduces the risk of your physical bank card being stolen while also offering a more secure and convenient security layer through the dynamic Card Verification Value (CVV) making it more difficult for unauthorised purchases to be made on your account.
- Monitor your account regularly
Make sure to keep an eye on your bank accounts while traveling. FNB’s mobile app and online banking platform allows you to check your balances and review transactions in real-time so you can spot any suspicious activity quickly. If anything looks unfamiliar, report it immediately to your bank.
- Beware of scams and fraudulent offers
During the holiday season, fraudsters and scammers are more active than ever. While you are enjoying your travels, be wary of unsolicited text messages, emails, or phone calls that request personal information or banking details. Remember that banks will never request your card number, One-Time Passwords (OTPs), or ATM pins on email, text message or over the phone. Never share any sensitive data and always ensure that the website you are purchasing from is legitimate and secure.
“As you navigate the festive season, remember that a little extra attention to detail can go a long way in ensuring your finances stay safe. Vigilance, combined with the right safety precautionary measures, will help you make the most of your money while keeping your transactions secure and ensuring that you enjoy your relaxation time safely.”
Chris Boxall, is FNB Head of Card Transact Industry and Fraud Detection. He writes in his personal capacity.
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