How to effectively manage your money from home

The benefits of online banking

There are many features of online banking that can help you manage your finances whilst being at home. Having access to online banking means you can:

• Check your balance
• Search and sort through transactions
• Make payments to new and existing recipients
• Manage direct debits and standing orders
• Transfer money between accounts

New to online banking?

If you're new to online banking, don’t worry, its simple and easy to set up.

How to sign up for online banking

In most cases you can register for online banking by using your bank account number and sort code or your 16 digit credit card number. For verification, you'll also need your mobile phone number or email address. Although online banking registration can vary from bank to bank, so it’s always best to check before you start.

Download the banking app

You can securely access and manage your accounts through a mobile banking app. In order to use a banking app you normally have to be registered with online banking first. You can download your bank’s app by using either Google Play or the Apple Store. In general most banks do not charge you for downloading an app onto your smart device.

Keeping yourself safe online

Mobile banking and phone-based payments mean it has become common for people to manage their money on the go. But this has brought its own issues you should be aware of. There are many benefits of managing your finances through internet banking, but it is essential that you know how to keep yourself safe online.

Here are a few ways in which you can keep yourself safe.

Install and run anti-virus software

Most banks would recommend that you have antivirus software installed on your computer. This is especially important if you use your computer for internet banking. Running anti-virus software can help prevent infection from the many viruses that are on the internet.

Not setting up or running a regular scan with your anti-virus software means viruses may go undetected. This can, in some cases, increase the likelihood of financial fraud.

Use a firewall

A firewall is a program that filters information coming through the internet connection into your private network or computer. Simply put, it helps to block malicious software from accessing your private information. It can also help stop potential intruders accessing your information online.

There are a number of different firewalls which can come with anti-virus software built in as standard. But do make sure you check this applies to your device, as this is not always the case.

Report a lost or stolen card

If your debit or credit card has been lost or stolen, you must report it to your bank provider immediately. The sooner you do this the better, as once your bank is aware of this they can freeze the card and make sure no unauthorised payments are taken. With many banks you can also register your card as lost or stolen through online banking or the mobile app.

Banking best practices

Keep your devices up to date

It’s important to keep your devices up to date, as online threats can change all the time and new ones can appear when you least expect it. Companies such as Microsoft, Apple, Google and other developers regularly update their software. This helps protect against any new bugs or security vulnerabilities discovered. It can also make your device run better.

Making sure your details are up to date

Having all your personal details up to date is important. Making sure your address, email and phone number is up to date will allow your bank to get in touch with you if they need to. You can normally update this information by logging onto your online banking.