We all have a role to play in keeping our financial accounts safe. Similar to the way we protect our physical wallet today, it’s important to protect our digital wallet.
Before signing up for a digital wallet, you should look for a provider to demonstrate:
- A strong legacy of securely, reliably and conveniently handling sensitive financial data and providing customer support.
- Readily-available and clear information on how they collect, store and use your information.
- The ability to send alerts of possible inappropriate access and fraudulent transactions through multiple channels, including email, text messages and telephone calls.
Essentially, keep three letters in mind to “L-O-K” access to your money and keep it safe:
Lock it down – Protect (physically and with passwords/passphrases) the devices you use to access your payment options: personal computers, mobile phones, tablets, etc.
Only you access sensitive information – Safeguard sensitive data, including usernames, passwords, PINs, passphrases and answers to security questions.
Know who to call – Before anything happens, know who to call if your wallet were to be compromised.
