A checking account is a common offering from a credit union. It’s a convenient way of paying for your purchases especially when it involves big amounts of money. Having a checking account allows consumers to pay for their purchase without needing cash. This will keep you safe from theft.
Regardless of an individual’s financial health, you can use a checking account as part of your personal financial planning. Most people get their monthly paychecks deposited to their checking accounts. Most people also have their bill payments automatically deducted from their banks. Some even set periodic withdrawals to fund their investment and retirement accounts.
People rely on checking accounts so it’s important to keep it safe and secured. Here are some tips and ways to protect your checking account:
Leave the Checkbook at Home
To keep your checking account safe, one thing you can do is to leave your checkbook at home, in a safe place. Only use your checkbook when you need to. Keep it in a safe place in your home and not in your purse or in your car.
Make your PIN as unique as can be
Checking accounts are usually linked or connected to a debit card. You use your debit card for daily purchases and to have access to your money. Unlike checkbooks, your debit cards are always in your wallet or purse. That is why it is important to make your card PIN as unique as possible so that thieves wouldn’t guess it easily. Don’t use your birthday or important events in your life as your PIN code. Make it something that’s hard to guess but easy for you to remember.
Secure your Mobile App
If you are using a banking app on your phone and do transactions in it, keep your security high. There are things you can do to keep your phone banking app secured. Lock your phone with a password and you can also lock your banking app with another password. By doing this, you will be sure that no one can access your phone except you. Always know where your phone is located.
Be on the lookout for smishing
Mobile banking is safe, generally. However, there are online frauds like phishing or smishing. Smishing happens when you get a suspicious text message from someone who is pretending to be a bank or credit union representative. These kinds of messages may warn you of some kind of a bank security breach and will ask for you to call a number. You will then be asked for your PIN code and account number. Don’t trust this kind of communication. Call your bank or credit union’s customer service instead. They can verify if the text you received was authentic.
Setup alerts from your accounts
Have as much information about your account as you can. Check if your financial institution offers transaction alerts. With this, you’ll get a text or an email every time a transaction is made from your checking account. If there is an unauthorized activity, you will know it in real time. This will give you security as you will always know your account’s activity.
Always review your account statements
To ensure that you know your account activity, make sure to review your monthly account statements. If you have online banking, you can check your account statement online at any time.
Report any theft immediately
In the event that your wallet or checkbook is stolen, call and alert your financial institution as soon as possible. They have the opportunity to take action and defend your account against fraud. Alert them so that they can take action.
Protecting a checking account can be an easy task if you know what you are doing. Develop positive habits as you make and keep your account more secure. Be vigilant to avoid compromises that will negatively affect you.
If you are looking for a reputable credit union to open a checking account, check out Calcite Credit Union today!