Do You e-Transfer Money?

Technology has made it easy to transfer money online. However, because it’s so easy, this might make you overconfident in your security, thinking that “no one is really interested” in tracking you.

When you think a financial institution’s website may be safe, that’s customer’s protection. It’s important to know that an “unauthorized transaction” will not be reimbursed by your bank as simply “not my fault” is no longer a sound prediction. With a weak password used in common transferring funds online, a financial institution may elect to not take responsibility.

WHAT CAN WE LEARN?

• ✅ Read the fine print to know exactly what’s covered.

• ✅ Use passwords and security questions that are unique and can’t be easily guessed.

• ✅ Don’t send or respond to email from unknown senders. Ask your bank to send only official notices to your email or app, separate from texts.

• ✅ Set up alerts to text message you as online e-transfers are made.