From electronic money transfers or wire transfers to various banking transaction servcies, commercial banks today provide many digital services. Every banking transactions seem to be only a click away via your phone or computer. However, since online or digital transactions are subject to electronic frauds, customers making the transfers should be cautious and careful when making these transactions. State Bank of India (SBI), which offers many options to make online money transfers and other electronic banking services, has time and again urged its customers to adopt banking habits that ensure safe transactions.
“Transferring money electronically? Follow these practices for secure and safe money transfers,” the country’s largest bank said on microblogging website Twitter.
“Be alert and cautious when conducting any electronic financial and banking transaction. Follow these practices and have a safe digital banking experience,” SBI had said earlier this month.
Here are 10 tips that SBI has shared with its customers:
1. Customers should transfer money electronically to known beneficiaries only.
2. Before making payments through Unified Payments Interface (UPI), an instant real-time payment system for inter-bank transactions, customers should check payment collect request, said SBI.
3. Customers should not make electronic money transfers through public devices, said SBI.
4. Customers should not transact via open/free networks, said SBI.
5. SBI advised customers to use verified or trusted browsers.
6. Customers should use ‘https’ secured websites for payments.
7. SBI also advised customers to verify amount for debit card transactions.
8. Customers should not share passwords, one-time passwords (OTPs), PINs, card verification value (CVV), UPI password etc.
9. Customers should not store banking credentials on their phone.
10. You should never share your card/card details with others, said SBI.