How to stay safe when using online banking?

Online banking empowers consumers to access banking services on the go. You can use it to transfer money, pay bills, shop online, and more. But with rising fraud, account hacking, and information theft, security remains a concern. 

If you're concerned too, here are some tips for safe online banking that can help

What is Online or Digital Banking?

Online banking, also known as Digital Banking or NetBanking, allows people to access banking services electronically through the internet via computers, smartphones, or tablets. For instance, AU Small Finance Bank offers digital banking solutions such as AU 0101 App/NetBanking, WhatsApp Banking, and Video Banking that enable customers to access financial and non-financial services within a few clicks.

Tips for Safe Online Banking

1. Use Strong Passwords and Change Them Often

One of the most effective online banking safety measures is using a strong password for both Mobile Banking and NetBanking. Never use personal details as your account password. Instead, your password should preferably combine upper and lowercase alphabets, numbers, and symbols. Change the password at regular intervals for improved safety.

2. Enable multi-factor Authentication

A multi-factor authentication provides an added layer of security, and it is one of the best practices for safe online banking. At AU Small Finance Bank, we offer secure access to AU 0101 App, AU 0101 NetBanking & Video Banking. Apart from user ID and password, the AU 0101 App follows other safety measures like fingerprint-based login, PIN-based App lock, and Face ID-based login (for iPhone users). We also use AI-based recognition & OTP-based login to ensure the complete security of our customers.

3. Never Share Your Account Details

Scam calls and emails asking people to share their bank account details or OTPs are becoming increasingly common in India. Never share your banking details with anyone, as no bank asks for your account details via phone calls or emails.

4. Keep a Close Watch on the Bank Account

For safe online banking, check your bank account statement regularly. Now it is easy to stay updated on bank accounts using Mobile Banking App or NetBanking. In fact, AU Small Finance Bank allows customers to access bank account details right away through AU 0101 App/NetBanking. Transaction alerts are also sent via SMS and/or email. 

5. Don't Click on Fake Links

Fake emails could look very similar to emails you receive from your bank. Never click on any links included in such emails, especially when it claims to redirect to your bank's login page. Always type the URL of the bank in the browser's address bar or bookmark the official bank website.

6. Avoid Saving Your Login Information

Most popular web browsers now allow you to save your login information. While you might use this feature to save the login credentials of other websites for added convenience, never use it for your online banking account.

7. Immediately Report in Case of Any Issue

If you receive a notification that someone has logged in to your account or if there is an unauthorized transaction, immediately contact your bank. The bank might be able to freeze your account to prevent any losses.

8. OTP and MPIN

The rule is that the OTP is for you and you alone, meaning you are the only one who should receive it and you should never share it with anyone. Similarly, MPIN is also confidential information. To prevent fraud, never share these sensitive financial details with anybody.