Online banking may never be 100 percent secure, but in this week’s iPhone tips we show you what you can do about it yourself.
iPhone tips: safer banking
Of course, you make it more difficult for scammers if you use your common sense. But if something does go wrong, you will be happy if you have taken measures that help ensure that the damage is limited to some extent. In these iPhone tips we show you how to do that.
For these iPhone tips we use the Rabobank as an example, but in principle they are possible at all banks. If you cannot find certain features, please contact your bank.
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1. Limit your card limit
With your bank card you can often pay up to a maximum of 5,000 euros per week at payment terminals in shops. The standard limit for withdrawing money from an ATM is often 1250 per week. Contactless payment is possible as standard up to 50 or 100 euros per day. It may be tempting to leave these limits as they are or even increase them, but that also means that the damage is higher if someone steals and misuses your bank details.
It is therefore a good idea to check whether you really need these limits. If that is not the case, it is best to lower them. We show you how to do this yourself in the Rabobank app:
- Open the Rabobank app and tap ‘Settings’ at the bottom right;
- Tap ‘Debit and credit cards’ and then ‘Debit cards’;
- Tap ‘Set limits’.
Here you can adjust all three limits to your liking.
2. Set up push notifications
You can also set to receive a push message when a debit takes place. You will not get the amount back, but you can contact your bank immediately if the debit is unlawful. In any case, you will be there as soon as possible! At Rabobank these push messages are called ‘Alerts’ and this is how you set them up:
- Open the Rabobank app and tap ‘Settings’ at the bottom right;
- Scroll down and tap ‘Notifications’;
- Tap ‘Alerts’ and then a little lower on ‘Depreciation’;
- Activate ‘Push notification’ (and/or ‘E-mail’) and enter an amount;
- Tap ‘Save amount’.
From now on, you will receive an alert every time a debit of the entered amount or higher takes place. You can also choose to receive an alert when your balance reaches a certain point.
3. Lower your daily limit
The daily limit indicates how much money you can transfer to other parties in one day. By default, this limit is often 5,000 euros. You can increase the daily limit to a maximum of 50,000 euros, but it is also possible to lower the limit.
You can even reduce it to 0 euros. This is an option because direct debits, debit card payments and transfers to your own accounts and to parties where the risk of fraud is small do not affect the daily limit. If you are not expecting large expenses, it is a good idea to lower your daily limit.
In these iPhone tips we show you how to do that. Increments are done the same way, but keep in mind that increments only become active after four hours for security reasons.
- Open the Rabobank app and tap ‘Settings’ at the bottom right;
- Tap ‘Payment accounts’ and then ‘Transfer daily limit’;
- Enter the desired amount and tap ‘Change limit’.
For extra security, you can also choose to lower the limit for transferring to unknown accounts with your passcode or Face ID. To do this, tap ‘Sign for payments’ in step 2 (instead of ‘Transfer daily limit’).
4. Limit or cancel your overdraft limit
It is a nice idea that you can temporarily overdraw in the event of an emergency without any problems. But that also means that criminals can withdraw more than is in your account. If possible, it is therefore a good idea to limit the overdraft limit, or perhaps even cancel it altogether. This is how you do it:
- Open the Rabobank app and tap ‘Settings’ at the bottom right;
- Tap on ‘Payment accounts’ and then on ‘Rabo Kort Overdraft’;
- Here you choose ‘Reduce Rabo Short Overdraft’ or ‘Stop Rabo Short Overdraft’.
5. Put money in your savings account
Number five of these iPhone tips is obvious, but that does not make it any less effective. It may hardly be worth it for the interest, but for safety it is a good idea to put money in your savings account.
You cannot simply withdraw money from your savings account. You must first transfer this to your own checking account and only then can you really do something with it. Of course, we don’t have to tell you how to transfer money to your savings account.
6. Other things to pay attention to
We conclude these iPhone tips with some general things you should keep in mind to minimize the risk of fraud. We list the most important ones for you:
- Do not make any changes to your iPhone’s operating system (jailbreaking).
- Regularly update your iPhone and the apps on it via the official App Store.
- If you lose your iPhone or it is stolen, contact the police as soon as possible.
- Don’t use public Wi-Fi networks to log in with your banking app. Use your carrier’s mobile network instead.
- Don’t click on links in unsolicited emails, even if they come from your bank or other reputable organization.
- Delete spam and suspicious emails without opening them.
- Use a different passcode for your banking app than for your iPhone.
- Do not store PIN codes, security codes and the like on your iPhone.
- Don’t share your iPhone security codes and passwords with others.
- Use a unique password for mobile banking and a unique password for your email account.
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