Although recent technological advances have led to vastly increased security for savings accounts, the main risk to your savings account is presented when you bank online. 'Phishing' is the name given to the process whereby internet banking login information is sought, usually via bogus 'banking' e-mails. If you access your account via internet banking and fall foul to phishing, your account is open to unauthorised withdrawals and transfers. Phishing is executed through unsolicited mail that requests the account holder's security information under the pretence that it is a genuine email from their bank or building society. Although banks and building societies secure funds as much as possible, they can only ensure safety when customers have exercised due care. Basic security measures, such as memorising passwords and not writing them down or putting them in emails, should be practised when using internet banking to protect a savings account from fraudulent misuse.
Best-practice guidelines advise checking the credibility of an unsolicited email supposedly from the bank or building society; never entering your full password or PIN details in full (internet banking systems ask for random alphanumeric characters in order to login); remembering, rather than noting down security details; keeping secure, 'good' passwords; installing and regularly updating anti-virus, firewall, anti-spam and anti-spyware software; checking that a secure connection is established with https://, and verifying the secure certificate information in the web browser. Using a secure computer to access online services is paramount to protecting the contents of an account, especially of current accounts which provide instant access to funds.
