Best Practices to Secure Your Current Account

Posted on Tuesday, February 6th, 2024 | By IndusInd Bank

Imagine working hard to earn and save every rupee to materialise your dreams. The last thing you want is to lose it all in one go because of unauthorized access made to your bank account. While losing money is an ordeal no entrepreneur wants to face, the idea of someone misusing your personal and financial details makes it worse.

Today, where digital banking is a norm, knowing how to protect your account isn’t just useful, it has become a necessity. With that in mind, here are some practical tips to keep your hard-earned money safe and your financial information secure.

Get Creative with Passwords

Whether you hold a current account for individual small-time entrepreneurs or established businesses, a strong password is a must. It should not be something easy to guess, like your birth date or simple patterns such as “1234”. Instead, mix different types of characters. Use letters, numbers, and symbols. This mix makes your password hard to crack. Regularly updating your password is also important in maintaining a secure account.

Layered Authentication

Think of layered authentication as a series of checkpoints. Each layer adds a barrier against unauthorised access. Most banks offer options like OTPs (One-Time Passwords) sent to your phone or biometric verification. Use these features. This step confirms if you or someone else is trying to access your account.

Sign Up for Banking Alerts

Banking alerts give you the power to respond faster, helping you secure your account and financial details. You may receive email or text notifications for the following activities:

• Balances reaching the minimum threshold
• New credit and debit transactions
• Failed login attempts
• Password changes
• Updates to personal information

If you get an alert and think someone tried to access your account, contact your bank right away. After that, change your online and mobile banking passwords.

Log In Through a Secure Banking/Mobile App

Managing your account through a banking app is common today. But safety lies in using the right app, specifically the one your bank provides. For example, if you open a current account with IndusInd Bank, you can use Indus Mobile – the dedicated mobile banking app, for your day-to-day financial transactions. When you use these apps, your information travels through secure channels. Moreover, robust encryption and authentication measures add extra layers of safety to these apps.

Educate Yourself

Scammers and fraudsters are clever and they keep changing their tricks. So, learn about common banking scams. Banks and many other organisations often hold workshops or provide information on how to keep your accounts/digital wallets safe. Consider these sessions as educational opportunities to learn the skills to identify scam signs and secure your account.

Also, be cautious with emails and text messages requesting re-verification of your current account opening documents or other bank details. If you receive a link, think before you click. Scammers often use fake emails or texts to lure you into giving away your details. They might also call, posing as bank officials, to persuade you to share details. If an email, message, or call seems strange, it probably is. Trust your instincts or call your bank directly to verify.

Key Takeaways

Your financial security is worth every effort. Remember, a small step today can prevent a big loss tomorrow. With IndusInd Bank’s current accounts, you get the convenience and security of managing your finances online through both net banking and mobile app. From smooth transactions and money transfers to overdraft facilities, fulfil your banking needs without compromising security.

Your safe financial future is just a click away. Apply for an IndusInd Bank Current Account now!  

Disclaimer: The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Hence, you are advised to consult your financial advisor before making any financial decision. IndusInd Bank Limited (IBL) does not influence the views of the author in any way. IBL and the author shall not be responsible for any direct/indirect loss or liability incurred by the reader for taking any financial decisions based on the contents and information.