In a world where things are increasingly digital, it’s very convenient to shop at the click of a button or pay back friends through an app. However, that can also mean your information is more accessible to scammers and online thieves. It’s important to be aware of where your financial information is going and ensure that it is safe. You can put your worries to rest with some of the following ways to protect your financial information online!Tried and True Sites
Make sure to use sites that are secure. A great way to know if they are, is to do some background research. Look up reviews, and ask friends about their experiences with the site, before handing over your money. Also, see if the site uses an “https” at the beginning of the URL and see if there is a lock sign next to it. This generally means your information will be safe and encrypted!
It's time to read the fine print
While we tend to gloss over those long documents with the “I Agree” checkbox at the end, this is usually where the answers to your questions are! As with any legal document you should read it over before you sign. Similarly, read through the privacy statement of a website or head to their FAQs to learn more about how they handle your financial information. If they don’t provide it, maybe it's best to avoid using the site. Better safe than sorry.
Keep an eye out
When making several online purchases, check in on your bank accounts to make sure everything looks good. Be sure to let your bank know if anything looks wrong. Opt in for all fraud alert services your bank provides and think about setting up two-factor authentication whenever possible. Tip: update your passwords occasionally to make sure your personal information is secure!
Credit over Debit
Credit cards give you a lot more protection than debit cards. Essentially, if someone were to steal from your credit card, you can always sort that out with your bank, but at least your money has not yet left your possession. You should flag sites that only ask for debit and PayPal because this allows them to have more direct access to your money.
BTW, the Boro app is all about keeping your info secure - it uses Plaid to review your bank information, the same trusted third-party verification system used by Venmo and Coinbase. Your information is stored securely on an encrypted server and none of your information or data will ever be sold to third parties.