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BSB 806 015
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& Hints and tips

Six ways to improve your online banking security

A young Asian woman using her laptop while sitting on the sofa

Banking online is part of our everyday lives. It’s a quick and easy way to check your account balances, pay bills, transfer money and keep on top of your finances. But just like with anything online, there are risks that we all need to be aware of, such as having your account hacked and your personal information – or your hard-earned cash - stolen.

Here are six useful tips and reminders that can help you keep safe and secure when online banking.

1. Use a strong password

Your best protection for online banking is a strong password – or even a passphrase. Don’t use your name or the name of a loved one, your street name or anything else that could be easily determined by someone, and never use an easily identifiable number like your birthday, postcode or another significant number for your PIN.

Create a password that includes a good mix of upper and lower-case letters, multiple numbers and special characters. Using a passphrase is even better because it is longer and includes multiple words, making it harder to crack. You may also find it easier to remember a passphrase.

Remember to ensure your passcode or password on the devices your online bank account is connected to is a strong one. Especially on the smartphone or laptop you use to access your banking app or online account.

2. Add two-factor authentication

If your bank or digital payment provider offers two-factor authentication, setting it up is good for an added layer of protection and peace-of-mind.

This process means that, after you enter your login details, your bank will send a code to your nominated mobile number or email address, which you then enter to access your account.

3. Understand how your bank communicates with you

You probably receive many emails and messages every day, but not all are genuine. Scam bank emails can look very convincing and often seem like they’re legitimate at first glance.

One of the best ways to protect yourself against being scammed is to understand how your bank gets in touch with you with you. P&N Bank will never ask you for your internet banking password - whether that’s via email or over the phone.

If you ever receive a communication from P&N Bank that you’re uncertain about, contact us directly on 13 25 77.

4. Only use secure devices

Using public computers or even public Wi-Fi can increase the risk of someone else accessing your private and important information.
Always use a secure device, such as your own computer or smartphone, and only do it when you're on a secure internet connection.

If you can’t access a secure connection (when travelling, for example), consider using a VPN or turn on encryption.

5. Make the most of your bank’s safety features

We are here to help keep your money safe, and many financial institutions, just like P&N Bank, offer additional safety features to ensure only you can access your account.

There is security information on our website detailing how we help secure your account and personal details, and there are features and settings available to all P&N Bank customers. For example, if you have an account with us, you can set up a daily transaction limit so large amounts can’t be taken without your consent.

6. Stop before you login

Always check the URL of the page you are on and verify its authenticity before entering any login details. If it doesn’t look right, check with your bank.

Never use a link to internet banking if it appears in a "sponsored" result (paid ad) in an internet search as these can be fraudulent links to phishing websites. P&N Bank will never include a link to our internet banking system in a Google or other search engine ad.

It’s a good idea to ‘bookmark’ our website homepage in your browser so you don’t need to type out our URL every time, or use a web search.

If you notice an unauthorised transaction in your P&N Bank account or suspect someone else could have access to your accounts, please contact us as soon as possible.

 

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