Both internet and personal banking have exploded in popularity in recent years, with many people preferring to bank online or over the phone. However, because your bank accounts are the doors to your finances, it’s critical to protect them from unauthorized access. In light of this, it’s a good idea to keep your Savings Account’s net banking credentials safe. These credentials could be used to gain access to your account and conduct unauthorized transactions if they fall into the wrong hands.
Your banking passwords can be challenging to remember, especially if you tend to forget them. This is especially true if you have several different bank accounts. This is why you may need to save your credentials somewhere else. But how can you keep your credentials securely such that no one else has access to them?
Safe ways to store bank account details
- Put them in your phone’s memory.
Keeping your Savings Account credentials on your smartphone is one way to store and keep track of them. To prevent outsiders from accessing your personal banking information, make sure your phone is password-protected. You might also use the fingerprint authentication mechanism to protect your passwords if you have a smartphone with a fingerprint sensor. This way, you’ll keep them safe, but you’ll also have them handy at all times.
- Make a copy of them and save them to your computer.
Alternatively, you might write down your bank account passwords in a document and keep it secure on your computer. When storing your credentials in this manner, it’s a good idea to enable password protection for your computer at the same time. This way, you can ensure that only you have access to the data.
If you’re still concerned about the confidentiality of your passwords, you may add a second degree of protection by encrypting the entire document with specialized encryption software. Only the person who has the password can decode the information in the document using the programme. This reinforces security by preventing hackers, spyware, and viruses from taking data from your computer.
- Invest in a Password Manager.
Password managers are specialized software that can help you store and manage your Savings Account’s numerous login credentials. In addition, your data is automatically secured in the software, guaranteeing that no one else has access to your sensitive financial information.
Password managers usually are compatible with both PCs and cell phones, and they function on a wide variety of operating systems, enabling you to access your information from anywhere. Another significant benefit of using password managers is autofill a password field with just one click. This screens out the need to manually type the password, making them a practical choice to have on hand.
- Keep them in the cloud.
Another simple technique to keep your bank account passwords safe is to store them in the cloud. There are many cloud storage platforms available, each with differing levels of security, and most of them are free to use. In addition, you receive three key benefits by storing your personal banking information in the cloud:
- To begin with, because the data is stored in the cloud, you may access it your choice of location, time, and device.
- Second, you would only need to remember a single master password to access your cloud storage platform. This relieves your mind from having to remember a slew of different login credentials.
- Finally, because the data is not saved on your computer or phone, hackers, malware, or viruses will never be able to access it.
- Digital Gatekeeper
Several new businesses geared at estate planners charge a monthly or annual subscription to retain digital data and release it according to your wishes. One will even check in on you by email on a regular basis, assuming you’ve passed away if you don’t respond, and contacting your heirs. Apart from security concerns, you should consider if these services will be available when you need them, as many are startups. And most of them are more concerned with death than with incompetence.
- Back up into a USB flash drive
This thumb drive may be turned into a little encrypted vault with its own password. The disadvantages: It’s more difficult to maintain updates than a cloud, and you’ll have to find a secure location to store it.
Once you have successfully put your bank account details in place, remember to let a desired set of people know where you have hidden all the information.