Banking is an everyday part of life for Australians.

Whether it’s making a transaction, transferring money to a friend, adding to a savings account, paying rent, or chipping away at a mortgage, most of us go online to manage our money. So, it’s important we know how to do it safely to avoid losing money or our personal information to cybercriminals.

BankVic Chief Information Officer Scott Wall is responsible for all technology at the member-owned bank, and recently spoke to Crime Stoppers Victoria about the safest ways to bank online.

Scott’s top tip is to ensure login credentials are kept private, and that passwords and PINs are easy for you to remember but hard for others to guess.

“Don’t use names or special dates that can be guessed. Mix letters, case, numbers and special characters,” he said.

Scott also recommended banking using a smartphone app, instead of a website on a browser, as it’s a more secure option.

“Unfortunately, the internet is full of sites where there is malicious software waiting to be downloaded,” he said.

Here are more of Scott Wall’s top tips:

• If you are online banking through a browser, make sure you have anti-virus software installed, and regularly update it.
• Never allow your browser to store your username and password.
• If you need to transfer money to a family member or friend, consider using a payment service such as BPAY’s Osko. This particular service allows you to receive payments in just seconds using just your mobile phone number or email, instead of bank account details.

While cybercriminals continue to loom large, at the end of the day, Mr Wall said the community should feel confident using online banking if they take sensible safety precautions such as the above.

“Remember, if you are ever in doubt about anything, please contact your bank as they are more than happy to help.”

If you’ve transferred money or provided your account details to someone you suspect might be a scammer, it’s important to contact your bank or financial institution immediately. BankVic members can reach out here.

For more helpful advice to protect yourself and your family online, be sure to follow Crime Stoppers Victoria and BankVic on social media so you don’t miss a beat of our Online Safety Series 2022.