Digital Banking: The Online Security Arsenal at Your Fingertips

Due to the plethora of convenient digital services and online apps, the traditional way we bank has changed. In fact, according to a recent study by Forbes, the U.S. Consumer Banking Statistics indicates that 78% of Americans prefer using online or mobile banking for a digital banking experience versus using an ATM or visiting a physical branch to manage their accounts. 

The Rise of Digital Banking

Given the popularity of digital banking options, security is of the utmost importance, and financial institutions prioritize the safety of your online accounts. Using the latest technologies, including firewalls, encryption, and multifactor authentication for your bank accounts, will help protect and secure your personal data and unauthorized access.

Here are some ways to use your financial institution's digital banking services to stay protected from scams, hackers, and online threats to your accounts.

Online Security Measures for Digital Banking Customers

Mobile Wallets: Convenient and Secure

A mobile or digital wallet created especially for your mobile devices, allows you to make secure purchases using only your phone. Mobile wallets offer a safe and convenient way to shop online or in person because the advanced technology ensures your card information is encrypted correctly, not stored on your phone or sent to the store. Benefits include convenience (no need to carry your physical card), faster payment, less fraud, and secure encryption and tokenization.


Online Banking Alerts: Real-time Account Monitoring

Online banking alerts can help you closely monitor account activities. These real-time communications give you up-to-date info, such as low balance and transaction notifications, so you can immediately act if something in your account seems wrong. The instant notifications allow you to report fraud faster if there's a transaction you did not authorize. From low balance and unusual account activity alerts to a large purchase or possible fraud warnings, online banking alerts are a great tool in helping keep your accounts and money safe.

eStatements: A Paperless Approach to Account Information

eStatements are great for those who prefer digital record keeping and add another layer of security to protect account information. This digital option eliminates the risk of stolen identity from paper statements becoming lost or stolen in the mail. Not only are e-statements convenient and secure, but they also reduce your carbon footprint by going green. eStatements contain the same information as paper statements and are available 24/7.

Bill Pay: Streamlining Your Finances 

Bill Pay is a tool that allows you to organize and pay bills within Online Banking. Paying bills electronically via this method is safer because it uses an encrypted website to secure your information from getting into the wrong hands. In addition, you can schedule one-time and recurring payments and set up payment reminders. Pay bills on time, save money on postage, checks, envelopes, etc., and avoid late fees that may occur if your mailed check is received late.  


Debit Card Management Tools: Taking Control of Your Card 

Your debit card is the key to all your money in the digital banking world. Keeping your physical card and information safe is crucial to avoid identity theft and fraudulent charges. If your debit card is lost or stolen, having the ability to take immediate action to shut down your card will lessen the chances of becoming a victim of fraud. With these self-service card management options, you can quickly turn off or deactivate your debit card - temporarily or permanently - anytime.

Rest Assured That Middlesex Federal Takes Steps to Protect Your Accounts and Personal Information

To remain vigilant to fraud and cyberattack threats, it's important to educate yourself on the best practices for online security and be aware of the latest digital banking scams, phishing, and spoofing to avoid fraud and identity theft. 

Middlesex Federal is committed to helping you protect your personal and account information year-round. Our team monitors for suspicious activity 24/7. Below are a few things you should know that can help you connect with confidence and navigate safely.

1. Keep your contact information up to date. If we can't reach you, we can't alert you.  Has your email changed?  Do you have a new phone number?  Click here to access our "Change of Information" form.

2. Stand firm against fraud. Middlesex Federal will never contact you and ask you to provide us with personal or account information. Click here for tips on responding to an email, phone call, or text message asking for this information.

3. To learn how to identify and protect yourself from identity theft, how to order your free credit report, and access additional online safety resources, visit our Alerts & Safeguards page today.

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