Tips For Safe Net Banking For SMEs


Although net banking presents a lot of convenience to the owners and managers of small and medium enterprises (SMEs) for various business transactions, it also involves risks that are growing day after day. The owners and managers of such SMEs which use net banking for financial transactions, need to be very careful with the bank account of the firm. They must carry out transactions after making sure that the internet connection that they are using is safe; there is no malware on the computer system and websites on which they make payments are secure.

Here are the top tips for safe net banking for SMEs

Check the computer for Malware

There is a lot of software that is specially designed by computer experts to cripple the functioning of a computer or to steal the information from the system in which it is installed. Such software is called ‘viruses’ and can be very risky for net banking transactions. Check your computer which you use for net banking so that it does not have any such virus. Using anti-virus software would be a good idea. If you use your smartphone for net banking, regularly install the updates on your phone. This is necessary for safe net banking for SMEs.

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Don’t use Public Internet Connection Computer Systems

Not using an internet connection which is public or is used by a lot of people like a free Wi-fi connection is important for safe net banking for SMEs. Use a trusted internet connection like the one in your home or inside your company premises to avoid online fraud and theft of your data and banking details.   

Don’t share your passwords with staff

For safe net banking SMEs and their owners, passwords should never be shared with a new employee or with someone who is not trusted. Even carrying out net banking transactions in front of such a person is fraught with risks since the persons can look at the movement of the fingers on the keyboard and can guess the password and can result in fraud or theft.

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Check your account Activity

Do keep an eye on the transactions from/to your account. If there is a transaction that was not performed by you, you must bring it to the notice of your bank and take immediate remedial measures. For safe net banking for SMEs, the owner should also check the last login details and see if there is some lapse. Most of the banks will show the details of the last login.

Change your passwords at regular intervals

Another safeguard to avoid any fraud or theft is to change the passwords of net banking now and then. Many banks make it mandatory for the user to change the passwords at a given interval. But in case it is not mandatory, you must do it voluntarily. For safe net banking for SMEs, the password should be such that it is difficult to guess.

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For safe net banking for SMEs, deletion of browsing history after each transaction is must

The owner of the SME must delete the browsing history after completing each transaction. Even clearing the cache memory of the computer will be a good idea to avoid fraud or theft. This becomes even more important in case a transaction has to be performed immediately, and a public internet connection or a computer in a cyber café is used. 

Don’t use mailers to sign in to your net banking account

Sometimes, hackers send mailers prompting people to sign-in to their net banking account by making use of the mailer. These mailers are cleverly designed and are made to look genuine and bonafide. For safe net banking for SMEs, the owners must not use these mailers. They should type the bank URL directly on their computers or smartphones. This little exercise can protect the owners from fraud or theft.

Also Read: Cash Management Hacks For SMEs

A little caution on the part of the owners of SMEs can result in a lot of headaches and loss. Their number of online fraud cases is increasing, but a cautious net banking customer can protect himself or herself from any attempt to break in the net banking account. Indifi always cautions its customers against online bank frauds and has a built-in lot of safeguards in its systems for providing adequate security to its customers. It uses modern software and firewalls to provide one of the safest financial solutions to its customers.