All The Things You Have To Do To Keep Your Money Safe on Christmas Day

No one would want their Christmas Day celebrations to be ruined by online financial scams and frauds. Keep in mind that these criminals do not take a break. Online frauds are rampant this December, where everyone is too busy with the celebrations to check their finances this gift-giving season. It’s important to know how to keep your money safe and keep yourself free from this financial stress.

Online banking apps are using and recommending that you set-up a 2-factor authentication to prevent your accounts from being used by somebody else. Aside from logging in your credentials into the app, you still need to input a code to be sent to your mobile number before you can get in. 

Keep your money safe by checking if your savings account is FDIC-insured (which is usually up to $250,00 per account) to provide you peace of mind this holiday season. This is one of the reasons why most people are keeping their money in separate bank accounts. Once you go beyond the amount coverage, the government will only be able to return the maximum insured amount of $250,000 per bank account. 

Updating your shopping apps and other financial management tools in your phone will provide you with the maximum security protection these apps have to offer. It will only require you a minute or two to do this. This will keep your money safe while you are celebrating with your loved ones. 

If you have to make a last-minute Christmas purchase, make sure that you will be ordering from a legitimate or from the official website of the store you prefer. You’d also want to make payment through familiar systems such as PayPal to keep your money safe (and your account credentials). Here’s a tip: websites with https:// (with an ‘s’) are more secure and safe than http:// (without an ‘s’) 

Open networks from public places such as coffee shops can be dangerous because they can have access to your online information. Avoid using these when making an online purchase to keep your money safe this Christmas. Also, there are fake free wifi connections that steal your passwords and credit card information. Subscribe to your own mobile data to be protected from these scams.

Some people have reportedly received messages from a company representative telling them they’ve won in a contest and that they’d be needing their personal details to proceed. These personal details are usually the answer to security questions to open and use your bank account. 

Thieves and robbers are smart people. Once they come to know that a family in the neighborhood is having a 5-day vacation somewhere far, they would make your house and all your belongings as their next target to rob. Avoid posting your itinerary on social media and ask your trusted neighbors to look after your home from time to time if you have to go on a vacation. Secure your personal vaults and make sure that your CCTVs are working before you go. 

Christmas Day is only a few hours away! Don’t let these online scams and cyber criminals ruin the most wonderful time of the year by employing all the best security protocols and practices to keep your money safe while you are celebrating with your loved ones. Merry Christmas and enjoy the holidays!