Risk of Online Shopping, Transaction: Know How To Keep Your Money Safe

With growing usage of internet, people shop and bank online with ease. To carry out online transactions, someone just needs a computer or smartphone, internet connection and bank account information. It’s so simple. Therefore, many prefer to go for online transactions.

However, there are challenges regarding safety of financial information and keeping online fraud at bay. Some safety tips need to be followed to avoid the perils of online banking.
Similarly, while making purchases or payments through debit or credit card, following the safety guidelines will be quite helpful.

Here are the tips for safe online transaction:

1. Someone should make payments through trusted websites or secured payment gateway only.

2. While doing online transactions, using trusted browser is advisable. To make payments, use of secured connection with lock symbol before https:// can ensure safety of the transaction

3. Do not share one-time password, password, PIN and card verification value (CVV) with anyone. Most of the time banks also advise customers not to share Unified Payments Interface (UPI) password which is used for inter-bank transactions.

4. Electronic money transfer should be carried out on personal computers only as most of the public computers remember passwords and username through cookies of their browsers.

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5. Money should be transferred through online mode to known beneficiaries only.

6. Most of the banks offer virtual keyboard while entering personal information so that there will be secured way to make online payments.

7. Apart from this, someone should not store card details or banking credentials on the phone as there are chances of leakage of data always.

Following the above best practices can help you stay smart and keeping money safe.