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Important Dos and Don’ts for Digital Payments

  • 5 May 2021
  • Post Views: 4878

With the rising popularity of digital transactions, cyber scams and online frauds are also increasing. Hackers are finding innovative ways to access account details and steal money. 

But with a few basic payment hygiene habits, you can stay above this! Follow these dos and don’ts for internet banking and UPI and BHIM payments and keep your transactions and your money safe and secure! 

Internet Banking

DOs: 

  • Only use your bank’s verified website or app for net banking. A URL starting with HTTPS is what you must look for. 
  • Use a strong login password and change it frequently. 
  • Check your ‘login history’ or ‘account activity’ regularly to prevent unauthorized access. 

DON’TS:

  • Avoid logging in to third-party websites, clicking on promotional emails, or using a public computer. 
  • Do not share your net banking PIN or details over calls or email. 
  • Refrain from sharing an OTP or install device-sharing apps. 

 UPI and BHIM

DOs:

  • Always have the most updated version of the app.
  • Change your UPI PIN/MPIN frequently. 
  • Ensure that you only transfer and receive funds from known beneficiaries. 

DON’TS:

  • Do not share your passwords or save them on your phone. 
  • Do not leave the UPI app unattended without logging out or closing the app. 
  • Avoid logging in to your account in public places where someone can have access to your MPIN. 

To know more about what can you do and what should you avoid while transacting through other digital payment methods like credit/debit cards and e-wallets, you can click here

But what if you still fall prey to cyber fraud? 

Here’s what you can do: 

  • Immediately contact your bank and inform them about the fraud. They will do the needful to ensure no further funds are debited. Additionally, you can also reach out to the nearest cyber-crime center and report the crime. 
  • Get in touch with cyber cell officials through the national helpline number 155260 which is a 24/7 service. It is currently available across Delhi and Rajasthan but will soon be made available nationwide. 
  • Visit the National Cyber Crime Reporting Portal at cybercrime.gov.in to get more information on reporting cybercrimes. 

You know what they say, cyber safety is the new cool!

It is important to keep a check on your bank accounts, especially if you are making online payments. Financial health is often underestimated but we, at DMI Finance, will always help you stay on top of your financial game.