Why it’s So Important to Protect Your Money Online and Offline

Technology progresses at an amazing pace with the move towards modernity impacting all aspects of our lives from smart home appliances to wearable fitness trackers. One aspect of life that is constantly evolving through technology is shopping, payments and spending. It has never been easier to pay in shops through cashless transactions, send money across the globe from your phone and purchase just about anything online in a matter of minutes. Whilst these advancements have made managing money very convenient, it has also provided new ways for fraudsters and criminals to try to take away hard earned cash from innocent consumers. To help you stay vigilant and make sure you’re protecting your money, here are some top tips to stay safe.

 

Contactless card payments have made small purchases in shops much quicker and have eliminated the panic of getting to the till and finding you are slightly short of change. With a payment limit of £30 banks are providing a degree of theft and fraud protection for their customers, however, due to this payment method requiring no signature, pin number or any kind of security measures it is important to keep a close eye on purchases paid for with contactless cards. Whilst contactless fraud is still quite rare, here are some simple steps to follow to help you protect your money.

 

  • Always obtain receipts after purchases, especially from self-service machines.
  • Keep tabs on your bank balance to check that purchases went out of your account as expected.
  • Keep your cards in the same place in your wallet or purse so that it’s very obvious if one is missing.
  • Metal card cases or foil lined wallets prevent cards being read and details being lifted by unauthorised scanning devices.

 

Everyone loves bagging a bargain and browsing with convenience which is why such a large proportion of our purchases are made online. Unfortunately, the sophistication of online scams is ever improving which can make it harder to identify what is and isn’t safe online. A common trick by fraudsters is to send e-mails that are branded from popular retailers such as Amazon or payment providers such as PayPal containing what looks like a link directly to their sites or requesting details such as passwords. With payment details saved on sites such as these, providing login details to third parties can leave you vulnerable to fraud and theft. To ensure you keep your money safe online, remember:

 

  • Companies will never request your password or any personal information via e-mail.
  • Check the web address and e-mail addresses very carefully. Often, they won’t quite match the sender or site they claim to be.
  • If an e-mail is addressed generically, it won’t be from the legitimate provider. Retailers and services which you have used before have your name and will address you personally.

 

With just a little caution and the occasional check-up of your outgoings (which is always a great idea anyway), you’ll find it can be hassle free to protect your money. Making sure you treat all purchases with the same caution and care you would when buying items with cash at the shops is the secret to keeping your hard-earned money where it belongs: in your wallet or bank account. If you are needing to seek further advice on this matter, please don’t hesitate to contact us.
 
 
Enter your postcode below to begin your online application today.

 
Posted in ,

Ealing Trading

Leave a Comment