Sep 032011
7 tips to secure online payments and safer money transactions

We all use online banking facilities to make online payments and for money transactions like deposit or transfer of money etc.Here are 7 self-taught tips to do online money transfers safely and securely with least risk of  your account being compromised by cyber criminals.


1. Use a secure and trusted computer to do online money transfers

This implies that you should always avoid logging into your  online bank account or furnishing your credit card or debit card information on a public computer or machine. You should also not use an untrustworthy computer (those belonging to your friends etc.) to make a credit card payment. The computer you use should be preferably your personal computer. Your passwords and credit card number etc. can easily be stolen on any unsafe computer by a malicous hidden program or a malicious script and you may suffer a huge loss even before you will know.

2. Use a secure and safe web browser

Use a safe browser to conduct online money transactions. A secure browser must have:

  • Phishing protection
  • Private browsing mode (like in Firefox or Chrome-incognito mode)
  • Pop up blocker
  • Indication that you are on a secured web site (Like a lock symbol in Firefox)
  • No data logging and hassle free clearing of private information
  • Ability to tell websites you don’t want to be tracked.
  • Malicious Website protection or Reputation system filters

IE9, Google Chrome, Firefox and Apple Safari and Opera are some of the safest browsers out there. Which web browser are you using?

3. Always check that you are on real website and not a clone website or phishing site

Check for the lock symbol or any other indications suggesting that you are on the correct website for shopping , online banking, mobile banking etc. Most of the web pages facilitating online money transactions have a web address starting from “https://…” where “s” stands for secure. Make sure your web page starts from https before entering your banking password or credit card number.

4. Use Virtual Keyboard whenever possible

A key logger software may be installed in a computer logging or recording all your key strokes. This may be installed even in your personal computer by some malicious program or script. To avoid dangers posed by a key-logger, consider using a virtual keyboard available on major banking and money websites.

If a website does not have a virtual Keyboard, you can use windows own virtual keyboard by going to


5. Clear Cookies and browsing data before online money transfer

Always clear all browsing data including stored passwords, Forms, Cookies and Site specific data before online money transaction and when you exit the browser,  to keep your online information safe. This is specially important while using a public or non-personal computer for financial work.

6. Utilize high level security options in your online Banking or internet banking account

Enable high level security like Mobile Security and  Transaction Notifier in your online Banking or internet banking or mobile banking account. This way you will have dual protection as no transaction can be done without you entering a random password recieved (for each transation) on your mobile phone. Also you are notified via SMS of all online transactions that  take place from your bank account or credit card account.

7. Keep changing your internet banking password frequently

Never stick to a password for a long time. Keep changing your online passwords. This is a tedious hassle but it is better than smarting from a cyber attack later.

If you have any other tip for safe and secure online money payments and money transfers we and our readers will be happy to hear that in comments!!