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Is your money safe?

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OK, consider this scenario…

You’re at a busy cafe with your laptop. It’s OK, I’m sure nobody is watching what you're doing. You pull out a piece of paper titled “Internet Banking password”. Having these details written down is so much easier than having to remember yet another password. You log into Internet Banking (IB) with your member number and password - which happens to be 12345678. And as for anti-virus software, well, it just slows your computer down!

Well now picture this … you drive to an area known for its high crime rate. You park your car, leave your keys in the ignition, step out of the car and walk away without locking it. What’s that you say? You would never do that?

I’m very glad that you care about your car that much. So consider the wealth of information about YOU within your IB. In the wrong hands it could mean theft or identity takeover.

You wouldn’t leave your car unprotected, so why would you leave yourself and your money unprotected?

We at First Option take your security and privacy very seriously and work hard to ensure that you and your money are protected. Here are just a few of the security features we make available:

  • Use a custom user-name (instead of your member number) as your IB login
  • A card transaction fraud monitoring service that operates 24x7
  • Passwords that require combinations of letters and numbers
  • Second factor authentication using “SMS One Time Passwords”. Required for transfers over $250, to change your address, contact numbers, or to view your online statement.
  • Comprehensively secured website, IB, mobile banking and mobile app
  • Security alerts emailed to you, when you deposit or withdraw money, or when you login to IB.

As always, we strongly recommend that you regularly review the security of your devices.

  • Make sure you use passwords that are unique to you
  • Don’t use the same passwords across multiple websites
  • Protect your computer with antivirus software
  • Avoid using IB in public places
  • If available, make use of biometric security features on your devices, i.e. fingerprint or facial recognition
  • Lastly, never share your login and password with anyone else

If you follow these guidelines then I have no doubt that you will "be money happy" all the time!

Written by Kate Rogers, First Option COO

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