ONE: Helping Online Banking Customers Feel Secure

Though traditional brick-and-mortar banks still exist, online banking is the preferred choice for most US consumers. It’s an affordable and convenient way to store, manage, spend, and save money. Online banking customers avoid long lines, receive paychecks faster, and can complete financial transactions 24/7. They also reap the benefits of lower fees and higher interest rates. While beneficial, banking online does come with some risks.

As reports of cyberattacks on major corporations, healthcare facilities, and government entities increase, more people are concerned about managing their finances online. What happens if your account gets hacked? Although it’s FDIC-insured, proving fraudulent activity and waiting to receive funds is time-consuming and stressful. Luckily, ONE offers a secure banking solution.

What is ONE?

ONE is a bank founded in 2019 in Sacramento, CA. Despite only being in business for three years, the company’s online banking products and features are unmatched. With innovative concepts like Pockets and perks like 3.00% APY auto-saving, customers that open an account with ONE can bank, budget, and save easily.

ONE And Online Banking Security

ONE provides its customers with a safe and secure platform. They have multiple features to reduce the risk of fraudulent activity on your account.

Instant Alerts

Early detection is essential to stopping cybercriminals in their tracks. The longer you wait to report an issue, the more time they have to make purchases or use your identity for other fraudulent purposes. If you’re only checking your account when the statement arrives, you could be giving a cybercriminal 30 days to commit crimes.

ONE customers have access to their accounts 24/7 through their easy-to-use website or mobile app, enabling them to review transactions instantly. You also have the option to turn on real-time alerts, so you get a notification after every transaction. If there is a purchase you don’t recognize, you can immediately contact customer service to resolve the issue.

Better Login Security

Passwords help to protect your online accounts. Ideally, customers should create challenging passwords that include a combination of letters, numbers, and special characters. Once created, passwords shouldn’t be shared or written down to avoid getting into the wrong hands.

While passwords can keep your account secure, seasoned cybercriminals have ways of cracking them. Fortunately, ONE offers multi-factor authentication options to its customers. It’s a series of security tests to authenticate your identity before giving you access to your accounts. You enter your username and password; next, you may be asked a security question or enter a temporary pin sent to your email or mobile phone. If someone does get your password, they’ll still need access to other information or devices to pass security.

Virtual Cards

Debit cards have become one of the most convenient ways to purchase things both online and in person. Even so, they can be easily compromised. Debit cards can be lost or stolen. Your card information can also be accessed online by cybercriminals. Thanks to advancements in technology, online banking customers can heighten their security.

ONE customers can create virtual cards. These are digital cards connected to your bank account that work just like a traditional debit card. However, they can prevent thieves from stealing your information due to a data breach. The card creates temporary account details or codes only valid for one transaction. So, even if someone does access your card information, the data is no longer useful.

Virtual cards also reduce the hassle of reporting a lost or stolen card. It could be days before you realize a card is missing. Then, you have to contact the bank to have the card canceled and wait for a new one to arrive in the mail. With a virtual card, you can log in to your account and cancel it with the click of a button and create a new one in seconds.

The increase in cybercrimes in the US has caused many citizens to question the true safety of their financial information online. While some have opted out of online banking platforms, others have reduced their risks by opening accounts with banks like ONE. Customers can rest easy knowing that their finances are FDIC-insured, hosted on a secure platform, and equipped with features to heighten security to ward off cyber attacks.