Due to the plethora of convenient digital services and online apps, the traditional way we do banking has changed. In fact, according to a recent study by Forbes, the U.S. Consumer Banking Statistics indicates that 78% of Americans prefer using online or mobile banking for a digital banking experience over using an ATM, or visiting a physical branch to manage their accounts.
The Rise of Digital Banking
Due to the popularity of digital banking options, security is of the utmost importance and financial institutions are making the safety of your online accounts a top priority. Using the latest technologies including firewalls, encryption, and multifactor authentication for your bank accounts, will help protect and secure your personal data and unauthorized access.
Here are some ways you can use your financial institution's their digital banking services to stay protected from scams, hackers, and online threats to your accounts.
Online Security Measures for Digital Banking Customers
Mobile Wallets: Convenient and Secure
A mobile wallet, created especially for your mobile devices, allowing you to make secure purchases with only your phone. Mobile wallets offer a safe and convenient way to shop online or in person because the advanced technology ensures your card information is properly encrypted, not being stored on your phone or sent to the store. Benefits include convenience (no need to carry your physical card), faster payment, less fraud, and secure encryption and tokenization.
Online Banking Alerts: Real-time Account Monitoring
Online banking alerts helps you closely monitor account activities. These real-time communications give you up-to-date info such as low balance and transaction notifications so you can take immediate action if something in your account doesn't seem right. The instant notifications gives you the ability to report fraud faster so that any transactions that you did not authorize can be blocked. From low balance and unusual account activity alerts to a large purchase or possible fraud warnings, online banking alerts are a great tool in helping keep your accounts and money safe.
eStatements: A Paperless Approach to Account Information
eStatements are great for those who prefer digital record keeping while also adding another layer of security to protecting account information. This digital option eliminates the risk of stolen identity from paper statements becoming lost or stolen in the mail. Not only are e-Statements convenient and secure, they also reduce your carbon footprint by going green.
Bill Pay: Streamlining Your Finances
Bill Pay is a tool that is used to conveniently organize and pay bills via Online Banking. Paying bills electronically via this method is safer because it using an encrypted website securing your information from getting into the wrong hands. In addition to this, you can schedule recurring payments and payment reminders to ensure bills are paid on time, save money spent on postage, checks, envelopes, etc., from anywhere at any time.
Debit Card Management Tools: Taking Control of Your Card
Your debit card is literally the key to all of your money in the digital banking world. Keeping your physical card and information on it safe is crucial to avoid identity theft and fraudulent charges. If your debit card is lost or stolen, having the ability to take immediate action to shut down your card will lessen the chances of becoming a victim of fraud. With these self-service card management options, you can quickly turn off or deactivate your debit card - temporarily or permanently - anytime.
Rest Assured That Peach State Takes Steps to Protect Your Accounts and Personal Information
Since this is where money and personal information can be accessed, financial institutions are of popular target for fraud and cyberattacks. To remain vigilant of these threats, people must educate themselves on the best practices for online security and be aware of the latest digital banking scams, phishing, and spoofing to avoid fraud and identity theft.
Peach State stands strong against fraud for its digital banking customers and is here to help protect your assets.
Remember, neither Peach State nor our third-party vendors (i/e: Visa) will ever call, text, or email you asking to disclose account or other personal information.
If you believe you were contacted by someone pretending to be from Peach State or another legitimate agency, please contact us immediately at 855.889.4328, stop by your local branch, or email us at firstname.lastname@example.org.
To learn more ways you can protect yourself and your loved ones from fraud, visit www.peachstatefcu.org/identity-theft-and-fraud-prevention.