Tips to Stay Safe and Avoid Scams When Using Digital Payment Methods

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Most digital banking methods tend to be reliable and safe. However, there is always a chance you could get scammed. Thankfully, you can keep yourself safe and prevent that. Keep reading to find great tips you can use to prevent scams when you use digital payment methods.

Choose Reliable Financial Institutions and Companies

First things first – choose reliable financial institutions and companies for all your online transfers, like AvantPay and PayPal. There are fishy companies that lurk around and offer incredibly low fees, but they may have little evidence that they actually work. There is a good chance that they are scammers that want to trick you into offering your personal information and bank details.

However, you should know that established financial companies and institutions will not fully protect you when it comes to scammers. For instance, many financial companies and banks will not be liable for any losses if you get roped into a phishing scam. A phishing scam is when you give your log-in info to a scammer, and they use it to take your money or info. Typically, they get you by sending convincing texts, emails, or even calling you. Many financial institutions and companies warn their clients about sharing personal information, so they may not protect you.

Identify the Scammers

Most scammers trick people by finding a way to get people to act immediately; they will scare you or tempt you with deals. For example, they will ask for your login details through an e-mail because they claim that your bank account is compromised, then they could steal your cash. Scammers may try to change your password by asking questions that allow people to change passwords, like your children’s names, your birthday, etc.

Luckily, you can use their e-mails or texts to spot scammers. Check out the details of the sender; if the institution or company does not have those details on their official website, there is a good chance they are scammers. Additionally, scammers tend to have spelling mistakes and bad grammar, so you can easily spot that through text. Additionally, be wary of clicking strange links. It is also important to remember most banks and companies are unlikely to send you the

You can usually spot a scammer through their texts or emails. Firstly, check out the sender’s details; if it is not a legitimate number or email that the company or institution has on their website, it is a scammer. Scammers usually often have bad grammar, spelling mistakes, and such that make it obvious. Plus, watch out for suspicious links and such; most of the texts and emails that they send you are very uncommon for companies and banks to send in the first place.

Protect Your Log-In Details

It is crucial to always keep your login details confidential. Never share them with anyone, or leave the information lying around. Avoid writing your password on paper, or keeping it in non-secure devices, your phone, a hard-drive, USB, etc. 

Try to choose a somewhat complicated password that you can remember. However, you need to make sure that it is not easy for other people to guess. Avoid using common number combinations, your birthday, names of your family, etc. because scammers can easily find it. You may also opt to change your password regularly.

You can still use digital banking and other payment methods without worrying about falling for scams. You can follow the advice above to keep your personal information and cash safe.