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Your online banking password is not as secure as you think!

Keeping sensitive information out of the hands of cybercriminals can be difficult. They are always looking for new ways to rip us off, which is why we’re constantly giving you security ideas to stay protected.

One place that you really need to be protected is your bank. Surprisingly, some of the most popular banks in the U.S. are not as secure as you would hope.

Why your online bank account might not be secure

We’re talking about the passwords needed to log into your online bank accounts. It was recently revealed that some major financial institutions are not requiring case-sensitive passwords.

That’s not the only problem that was discovered. Some banks only require passwords to be six characters long. These lax requirements make it too easy for hackers to break into accounts.

Here is a list of known financial institutions that do not require case-sensitive passwords:

  • Wells Fargo
  • Chase
  • Capital One
  • American Express

The fact is case-sensitive passwords are not strong enough to protect your accounts. You also need to follow some other security tips to make the strongest passwords possible. Read the following suggestions that are sure to help.

How to secure your bank account

  • Create hack-proof passwords – Using a case-sensitive password isn’t good enough these days. You need to be creative when coming up with passwords that will keep hackers out of your bank accounts. Click here to learn three proven formulas for creating hack-proof passwords.
  • Set up two-factor authentication  Two-factor authentication, also known as two-step verification, means that to log in to your account, you need two ways to prove you are who you say you are. It’s like the DMV asking for two forms of ID. Click here to learn how to set up two-factor authentication.
  • Keep an eye on your bank accounts – You should be frequently checking your bank statements, looking for suspicious activity. If you see any transactions that you don’t recognize, report it immediately.
  • Have unique passwords – Many people make the mistake of using the same password for multiple sites. This is a terrible idea. If you’re using the same password across multiple sites and one of them gets breached, the cybercriminal can use your credentials to get into the other sites. If you have too many account passwords to remember, consider using a password manager.

More stories you can’t miss:

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5 things you’re doing that put your financial life at risk

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