Smart online banking

More and more people are using the Internet to do their banking and pay bills. It’s convenient, sometimes cheaper than doing it in person and more environmentally friendly.

Just like you protect your PIN number for your EFTPOS card, you need to protect your passwords for online banking and financial transactions. Assuming you have followed the advice in the securing your computer section of this website, here are the things you need to do to bank securely online.

What you need to do…

  1. Make sure your computer is secure
  2. Always type your financial institution’s website address into your browser—never use a link to your financial institution that has been sent to you by email or that is on a website: these may lead to fraudulent websites.
  3. Confirm that your data is encrypted between your computer and the financial institution by looking for the https:// at the top of the screen in the address bar and the locked padlock symbol on the bottom right hand corner of the browser window. Click on the padlock and make sure it’s current.
  4. Always log out from your Internet banking session when you have finished.
  5. Close your Internet browser after logging out at the end of each Internet banking session.
  6. Ensure that you are aware of the security advice provided by your financial institution.
  7. If any windows ‘pop up’ during an Internet banking session, be suspicious, especially if it directs you to another website which then requests your customer identification or password.
  8. Keep private information out of chat rooms e.g. passwords, credit card details.
  9. Don’t send your financial information via email to anyone.

Further information

Many financial institutions provide information and services which enhance the security of financial transactions. It may be useful to visit the online security section of your financial institution’s website.

The Australian Bankers' Association (ABA), the Australian Securities and Investment Commission and the Australian High Tech Crime Centre have produced a This link will take you off the Stay Smart Online websitewebsite to assist consumers to protect their financial identities.