Opening your first bank account is an exciting step towards financial independence. However with this new responsibility comes the need to protect your money and personal information. It’s essential for new accountholders to start developing good habits as early as possible.
Consider sharing the tips below with a teen or new accountholder in your life.
Consider sharing the tips below with a teen or new accountholder in your life.
Financial security tips for online and in-person.
Online
- Don't share passwords. This might sound like a no-brainer, but it's important to stress this to teens: you should never give your password to anyone, not even a trusted friend, for any reason. If you have trouble remembering your passwords, consider using a password manager.
- Please be advised that Middlesex Savings Bank will never call, text or email you and ask for your online banking credentials. If you receive a communication that fits this description, please call us at 1-877-463-6287. Take extra caution when using public or unsecured Wi-Fi networks. Public Wi-Fi networks might be convenient, but tread carefully – an unsecured connection can be an easier place for someone to steal your information. Use these networks only for things like reading the news and your favorite blogs, and avoid things like logging in to online banking or making a transaction that involves entering your credit or debit card information.
- Consider using a digital wallet. Digital wallets add an extra layer of security by encrypting your payment information and reducing the risk of fraud.
- No matter where you're using the web, pay attention to a small detail before you make any kind of financial transaction. Look for the website to start with “https://” instead of “http://”. The “s” indicates the connection between the two computers is secure.
- Learn more about identity theft protection tips.
In-Person
- Handle cash wisely. When carrying cash, keep it in a secure place, such as a wallet or purse. Avoid displaying large amounts of cash in public.
- Keep your debit card safe. Store your card in a safe place. If your card is lost or stolen, report it to your bank immediately. Consider setting up alerts for any transactions made with your card.
- Be mindful of your surroundings. If possible, only use ATMs in well-lit areas that aren't heavily trafficked at night.
- Keep your PIN safe. Keep one hand over the other as you enter your PIN at an ATM, gas pump, grocery store checkout, or any other place where inputting this information is required. If there's a built-in shield around the keypad, even better. Never give your PIN to anyone.
- Know what to do in case of fraud. Familiarize yourself with the steps to take if you suspect fraud or identity theft. This includes contacting your banking, filing a report with the police, and possibly freezing your credit.
- Check out our ATM and Debit Card Safeguards for more.