Digital Banking: Tips for Seniors to Stay Safe and Secure

The Digital Banking wave in the country is not just for the young. Even those young at heart can take maximum advantage of NetBanking platforms and Mobile Banking Apps.

However, as most seniors are not well-versed in digital technologies, they’re often the common targets of banking fraud. But this doesn’t need to be the case. Seniors can avoid being victims of such scams by following basic safety precautions.

Here are some of the tips for senior citizens to safely and securely use Digital Banking-

Tips for Senior Citizens While Using Digital Banking

1. Mails and SMS Frauds

If you receive an email or SMS that says you’ve won a lottery or there’s a highly profitable business opportunity, it is a scam.

You should never click on any links or call any number included in such emails or messages, as you can become the next victim of banking fraud. A good rule of thumb to safely navigate the digital world is never to believe any offer that sounds too good to be true. As a good practice, only click on links in emails from senders that you trust.

2. No Data Sharing

Never share your Online Banking credentials with anyone. If you receive a call from someone who says he/she is an executive from your bank, you should not provide your account ID or password. Remember that banks or other financial institutions will never ask for your account credentials, including details such as your password and OTP.

3. Unique Passwords

A common habit among individuals, especially seniors, is using the same ID and password combination for all their accounts. If the credentials of any of your accounts are somehow compromised, all your other accounts will be at risk.

Always use unique passwords for every account and ensure that it is not something that fraudsters and scammers can easily guess. So, a password containing your name and date of birth is not a smart choice.

4. Logging in Tips

Always type the URL of the bank’s official website into the address bar of your web browser. Never click on random links you find online to reach your bank’s login page.

When you’re done using the NetBanking platform or Mobile Banking Apps, log out and close the browser window/App. Never leave your account logged in when going away from the computer, smartphone, or other devices. Download the Mobile Banking App only from App Store/Play Store.

5. Strict No to Public WiFi

Public WiFi available at airports, restaurants, etc., is never fully secure. So, while you might use these open networks to browse online, use Social Media, or watch YouTube videos, never use them to log in to your Digital Banking Account.

If the public WiFi network is compromised, you might end up sharing your account credentials with a hacker. Prefer your own mobile network over public WiFi in such cases.

6. 2-Way Security for Bank Account

Most leading banks now require customers to activate 2-way security or 2FA (2-Factor Authentication) for their online accounts.

The feature requires customers to provide two different authentication factors to log into their Digital Banking Accounts. If your bank offers this feature, ensure that you activate it at the earliest.

Apart from the Digital Banking tips listed above, seniors need a trusted bank. So, if you are a senior citizen who wants to open a bank account or opt for any other service, you can certainly choose AU Small Finance Bank, which is the most trusted scheduled commercial bank operating in India.

In fact, seniors citizens can get in touch with an AU Small Finance Bank representative through our AU Video Banking solution that is convenient, safe, and confidential.