ADVERTISEMENT
TechEconomy
Monday, June 2, 2025
No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » Eight Important Steps to Secure Your Bank Account this Holiday

Eight Important Steps to Secure Your Bank Account this Holiday

Techeconomy by Techeconomy
December 8, 2023
in Fintech
0
bank account security
bank account security

bank account security

RelatedPosts

PalmPay Unveils ‘Passing the Baton’ CSR Initiative

PalmPay Unveils ‘Passing the Baton’ CSR Initiative

May 29, 2025

How Interswitch Group Deepens Homegrown Innovation

May 29, 2025

One of the factors limiting financial inclusion among the unbanked is the perception that banks are not safe to store money.

This concern increases exponentially with digital banking platforms as the suggested mode of banking.

News headlines such as “Electronic Fraud: I called my bank to block my account but the criminals still cleared my money” and “78,584 e-payment fraud cases recorded in one year” do not help the assertion that digital payments are safe and secure.

However, the truth is that your money is safer in a bank than it is hidden under your bed at home and safer with digital wallets like PalmPay, whose deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC).

bank account security by PalmPay
Advertisements
MTN ADS
bank account security…tips by PalmPay

For your money to remain secure, aside from the security measures put in place by banks and fintechs, you owe it to yourself to take safety precautions by following these eight vital steps to enhance your bank account security.

1. Create strong passwords

Passwords should be complex but easy to remember. To prevent your bank from being hacked, use a complex password with a mix of uppercase and lowercase letters, numbers, and special characters, for example (GOdsent123@) and avoid using easily guessable information like birthdays, pet names, and names for passwords.

2. Enable Two-Factor Authentication (2FA)

Where applicable, enable two-step authentication for your online banking to ensure an extra layer of security.

Because this requires that a second form of verification is sent to your mobile device, it makes hacking your bank account difficult. Users of the PalmPay app can enjoy its built-in safety and security features.

3. Monitor your accounts regularly

Safety may begin with an ‘S’ but it starts with ‘U’. The human component of safety is as important as the technology side.

Bank security measures are not enough to protect your money; follow safety precautions to enhance your account security.

You are less prone to financial attacks when you keep an eye on your bank statements and transaction history and immediately report any discrepancies to your bank.

4. Protect personal information

Your PIN is called a Personal Identification Number for a reason. You must avoid sharing such and other sensitive information and be cautious about sharing your personal information online, especially on social media.

Thread carefully when using a bank or making payments through a point of sale (POS). Always stay vigilant and watch out for possible irregularities while patronising POS agents.

5. Regularly update banking apps

Failure to regularly update your banking app leaves your account open to fraudsters. This is because the latest bank app updates often include security enhancements like PalmPay’s auto-logout feature.

This security feature requires users to always input their PIN when they reopen the app after each logout.

6. Set limits for your bank account

Beyond having biometric features, many banks and fintech platforms like PalmPay have features that enable you to set account limits for specific activities such as large transactions.

Stay informed on your bank account activity and peg a withdrawal limit to serve as an alarm bell for unauthorized transactions on your account.

7. Beware of phishing attempts

There are going to be numerous phishing attempts during this period. Be cautious about emails, messages, or phone calls asking for personal information.

Do not click on links or download attachments from suspicious sources.

Legitimate financial platforms like PalmPay won’t call, text or email requesting your personal information.

8. Education, education, education

Educate yourself by staying informed about common scams and fraud tactics, and be cautious about clicking on links in emails or text messages, especially if they seem suspicious. We are big on financial literacy in PalmPay.

Take advantage of our Wallet Safety Workshops to educate yourself on best safety practices.

Let’s say that your bank’s safety measures are top-notch and you’ve done everything advised here to enhance your bank account safety but still get hacked by fraudsters, quickly report any fraudulent activity to your bank’s customer support to help you with quick resolution and recovery of stolen funds.

Loading

Author

  • Techeconomy
    Techeconomy

    View all posts
0Shares
Tags: 2FAbank account securitybanking appsElectronic FraudGOdsent123@PalmpayPINPoS
Previous Post

EU-US Data Privacy Framework – How African Countries will be Impacted

Next Post

Must-Have External Storage options for the iPhone 15 Series

Techeconomy

Techeconomy

Related Posts

PalmPay Unveils ‘Passing the Baton’ CSR Initiative
Fintech

PalmPay Unveils ‘Passing the Baton’ CSR Initiative

by Latifat Fashina
May 29, 2025
0

In a strategic move to expand financial inclusion in Nigeria, leading mobile banking platform, PalmPay has launched a series of...

Read more
Interswitch Group at 2025 Africa Soft Power (ASP) Summit in Nairobi, Kenya

How Interswitch Group Deepens Homegrown Innovation

May 29, 2025
SANEF and CIBN

SANEF, CIBN Partner to Expand Agency Banking Certification

May 29, 2025
Access Bank BVN and NRBVN

Access Bank Opens NRBVN Registration for Nigerians in Diaspora

May 26, 2025
Nigeria’s Top 10 Payment Gateway Providers

Nigeria’s Top 10 Payment Gateway Providers

May 23, 2025
Ope Adeoye, founder of OnePipe | Local Cooperatives

How Automated Payments Can Reshape Savings Beyond Local Cooperatives

May 22, 2025
Next Post
sandisk ixpand luxe plugged in iPhone 15

Must-Have External Storage options for the iPhone 15 Series

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

TECH TALK EPISODE 2
byTecheconomy

PRODUCTIVITY AND WORK-Life Balance

TECH TALK EPISODE 2
TECH TALK EPISODE 2
May 22, 2025
Techeconomy
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

Translate »
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.