Online Banking Best Practices
We at Capaha Bank want you to be informed. The growth of the Internet, constantly changing transaction options, and the ever present threats to privacy make your financial literacy more important than ever before. As a consumer, it is awareness that enables you to take control of your financial life and protect yourself. Stay informed.
Our goal is to provide you with some practical information and tips on topics that are important to your financial peace of mind.
What is MultiFactor Authentication?
- Online security begins with the authentication process that is used to confirm that it is you, and not someone who has stolen your identity. MultiFactor Authentication combines something you have, such as your debit card or your computer along with something you know such as your user id and password. Capaha Bank utilizes MultiFactor Authentication in your online banking experience with us.
How Capaha Bank Protects You
- Your security is our top priority. That”s why we take extra care to make sure your information is protected. The security of your data is extremely important to us. As a result, Capaha Bank useslayered security (several layers of technology to prevent unauthorized users from gaining access to our banking network).
Your protections under Regulation E
- Banks follow specific rules, known as Regulation E, for electronic transactions issued by the Federal Reserve Board. The rules cover all kinds of situations revolving around transfers made electronically. Under the consumer protections provided in Regulation E, you can recover internet banking losses according to how soon you detect and report them.
- Here is what the Federal Reserve rules require: If you report the losses within two days of receiving your statement, you can be liable for the first $50. After two days the amount increases to $500. After 60 days, you could be legally liable for the full amount. Capaha Bank abides by Visa’s Zero Liability Policy for unauthorized, credit transactions that are reported within 60 days. You may ask us how these provisions apply to your particular situation.
Best Practices to ensure the security of your financial information at Capaha Bank.
While the information that follows should not replace the advice of technology experts, we recommend the following best practices to secure your data:
- Never reveal your password to anyone
- Passwords are case sensitive. Mixing uppercase and lowercase letters as well as symbols is encouraged. Your Online Banking password must be between 6 and 16 characters in length.
- Create a strong password. Stronger passwords include a mix of numbers, letters, case, and characters. You can make it easy to remember as long as it is difficult for someone else to guess.
- Avoid using password managers. Even though they seem convenient, password managers create a habit of not changing your passwords regularly, make it easy to forget your password, and they can override new passwords resulting in verification errors.
- Change your online banking password regularly. We recommend that you change your password often. Log in to Online Banking and select the “Options” icon to do so.
- We do not have access to your password and will not ask you for your password.
- You must contact us to reset your password if you forget it. When you log in to Online Banking after resetting, you will be prompted to update password.
- We recommend that you select a user ID other than your social security number or a combination of your initals and last name.
- Use the Sign Off icon to end your Online Banking session. Do not just close your browser. Use the Sign Off icon to insure that your end your session.
- Balance your account at least once a month; check the transactions in your account daily if you can.
- Report any discrepancies in a timely manner.
- Beware of fraudulent emails
- Have you heard of phishing? It is a type of fraudulent email scheme designed to scare you into providing your personal and financial information online. If you receive any email contact that you think is suspicious, contact us immediately at (800) 872-4944 or visit our Fraud Prevention Page.
- Keep your software safe and up to date
- Always have the most current anti-virus software installed and make sure to use modern web browsers.
If you receive any kind of suspicious solicitation, please call us at (800) 872-4944. You will never receive an email from Capaha Bank asking you to provide or verify your account information online; emails of this nature only come from those who are interested in gathering and misusing your personal information.