World Password Day — Tips for Strong Banking Passwords

Published Thursday, April 27, 2023

World Password Day — Tips for Strong Banking Passwords

Here are some common mistakes we tend to make with online banking passwords:

  • Having the same password for multiple systems
  • Using personal information, such as your name, address or date of birth, or common words and simple number combinations like 123
  • Choosing shorter passwords
  • Not updating passwords regularly

While those practices can make it easier to remember your passwords, they also make it easier for hackers to guess your password and access your online banking information.

Here are some tips for creating stronger passwords for banking online:

  • Create longer passwords using a phrase rather than a single word
  • Use a variety of characters – a mix of upper and lowercase letters, non-sequential numbers and special characters
  • Avoid using personal information, such as your name, pets’ names, date of birth, etc.
  • Don’t store your login details in your online banking or mobile app
  • Don’t write passwords or PINs on the back of debit or credit cards or keep them in your wallet
  • Update your digital banking passwords regularly, such as every three to six months, to lower the odds of your password being stolen or decoded by hackers

You may consider using a reputable password manager to store and protect your passwords—and make using longer and more complicated passwords easier.

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