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Is your money safe online? 16 ways to make sure

We’re gradually moving from a world where we went to banks, bought in shops and carried cash to a digital first economy. Now, we’re as likely to check our bank balance on our mobile phone as we are a cash machine, and over Christmas, shops such as Argos and John Lewis saw as many sales online as on the high street.

The personal benefits of spending and managing money online are clear. For me, it means I’m not restricted by nine to five opening hours. I can shop around for the best prices without leaving my home, and heavy deliveries can be bought to my door, often for free.

But there’s also another side to the convenience.  I’m lucky enough to have not fallen victim to online fraud, but I’ve seen how easy it can be if you’re not careful.

To mark Safer Internet Day, here are some essentials you can follow to make sure your money is protected when banking and shopping online.

16 ways to be safe when shopping and banking online

These three questions are a great basis to start ensuring your money is safe online.

Is the website safe?

  • Avoid buying from companies you don’t recognise
  • Check customer reviews if you’ve not used the shop before
  • Make sure you’ve typed in the right address
  • Look for a closed padlock and a web address beginning with HTTPS rather than HTTP
  • Avoid unsecured public Wi-fi

Are your payments protected?

  • Consider using a separate bank or credit card solely for online purchases
  • Use a credit card for purchases over £100 for extra protection
  • Consider Paypal and other digital wallets to avoid giving your banking details
  • Keep your receipts
  • Check amounts on bank statements to be sure you’ve be charged the right amount

 

Is your account secure?

  • Don’t use a password you’ve used elsewhere, particularly for online banking
  • Don’t allow your computer to remember any login details
  • Don’t share your login details with anyone
  • Never log in via a link emailed to you, always type the address or go via the banks main website
  • Only download official bank apps
  • Have a password on your computer and phone to stop other people using it

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  • Phidette mockouamy / 10 March 2016

    Helpful thanks

  • Deborah Calvert / 9 March 2016

    Helpful! Thanks

  • Alison Jeeps / 8 March 2016

    Good morning Money advise service Thank you for your tips about online banking and other advice it is good information keep up the good work.

  • Wendy / 7 March 2016

    Thank you a very interesting article for someone who is just getting to grips with the digital opportunities related to banking and purchasing goods.

  • launa woodruff / 6 March 2016

    thank you for the helpful tips, its good to be reminded now and again

  • Andrew Maxwell / 6 March 2016

    Fab info as always top tips

  • JEFF POCOCK / 6 March 2016

    A very sensible safety guide...thank you.

  • Jimmy / 6 March 2016

    I find the tips very useful, its highlight some if the things I have always considered not be important when am shopping online

  • Tony Kelly / 11 February 2016

    Are my savings safe if I have separate savings in Birmingham Midshires and Halifax Buildings