The banking sector has embraced digitalization which come with its share of misgivings. Do not think that is an episode of Black Mirror but there is a serious risk to how we share data online especially how we financial information.

For any online transaction to work, you will have to provide some data point as validation, take for example the following

                          ·         Credit/Debit card: You need to provide credit card number and CVV number of the card

                   ·         Payment apps: Here again you will need to provide your bank account and UPI pin

As you can see no financial transaction can happen without some information pertaining to your bank account. Now comes the question – Is it safe to provide the bank account number and other details for transaction?

The answer is that you will have to give the details if you want to do any online transaction, there is no other option. Also banks and the payment portals use 128-bit encryption on their website making your details extremely safe.

But it is always safe to take precautions to protect yourself from hacking

How to protect my account?

Here we are going to talk about 3 things – Credit/Debit card transactions, online and mobile transactions, telephone queries.

  1. Card transactions – here are a few tips to keep your card transactions safe

·         Don’t write down your pin – Never write down your pin in your purse or on a piece of paper. Memorize it to keep it safe in case your wallet gets lost.

·         Check the ATM machine – Before you do any ATM transactions check the machine for any anomalies. Fraudsters may insert a camera above the keypad and a card reader to collect your pin and card details.

·         Cover the keypad when entering pin – Cover the keypad while entering the pin number when using your card at any place – restaurant, petrol bunk etc.

·         Don’t give your pin number to anybody – In many places like restaurants and petrol bunks the staff might say they don’t have a card reader that is mobile. Do not give your pin number to the waiter or bunk personal, make the effort to go and enter the pin yourself.

  1. Online and Mobile transactions

·         Change password – Change your password regularly. Similar to pin numbers for cards, do not write down the password or save it in your computer.

·         Do not auto save password – Many people auto save their password in their browser or in the application. Do not do this as your password and username or customer ID number can be hacked using cookies.

·         Delete cookies – Keep flushing cookies on a continuous basis. Many spywares or trojans get inserted through these cookies or in most cases temporary internet files.

·         Use only secured portals – Never give your bank details or account details in a website which only has http. Make sure it says https which means the page is encrypted and the transaction are secured.

·         When changing mobile or PC – When ever changing your mobile device or PC always format or reset to factory settings to make sure none of your personal files, browser history and temporary files are not available.

  1. Telephone queries – Many a times people may contact you saying they are calling from your bank and will “phish” for your personal details. Do not give them any details. If they are offering you anything collect the details and go to bank to apply for the schemes.


No online transaction can happen without any banking data provided by the consumer. You can keep your account safe by following these steps to make sure you do not unknowingly get hacked.