Stay Safe And Secure While Banking Online

No one likes to be taken advantage of. But in today’s world of online banking, there are plenty of cyber thieves looking to do just that to unsuspecting

That’s why it’s important to always be on high alert when conducting online banking transactions and related financial activity via the internet. At Bank5 Connect, your online security is one of our highest priorities. So much so that we want to share some best practices to keep your online bank accounts safe and secure, whether they’re with Bank5 Connect or another financial institution.

  • Consider using a separate computer exclusively for online banking to protect it from malicious software, also known as malware. Malware is often contracted while browsing the web, using social networks, sending and receiving email, or playing online games.
  • Use online or mobile banking to check your accounts on a regular basis, such as once or twice a week. Frequent checks will help you identify, and act on, any suspicious activity.
  • Take advantage of email or text message alerts offered by most banks. These account notifications can alert you when your balance falls below a certain level or when there is a transaction over a certain amount. Some banks offer alerts for suspicious account activity as well.
  • Set strong, unique passwords and change them on a regular basis. You should use passwords that are at least 8 characters long and include a combination of symbols, capital and lowercase letters, and numbers. And remember to make your passwords hard to crack. It’s never a good idea to use common words, or the names of family members or pets as passwords.
  • Never use the same password for several accounts, and don’t share your passwords with anyone.
  • Always fully log out of your online banking sessions. And once you’re logged out, close your browser for additional security.
  • When you’re logged into online banking, never leave your computer or device unattended.
  • Update your device’s security software, operating system and browser on a regular basis.
  • Only conduct your online banking business from a secure internet connection. Never log into your account from a public computer, or a public Wi-Fi network. Free Wi-Fi in a hotel or coffee shop might be convenient, but it’s not worth the security risk. If you must access your online banking account on-the-go, it’s much safer to use your phone’s cellular network than a public Wi-Fi connection.
  • If you’re using a computer for online banking, ensure that it has firewall protection. A firewall creates a barrier between your computer and an external network, such as the internet. This controls incoming and outgoing network traffic and helps screen out cyber criminals, malware and other damaging intrusions.
  • Make sure you’re using an encrypted wireless connectionAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon! at home.

Being vigilant about your online security, and staying on top of your account activity can go a long way toward protecting your bank account from cyber criminals. But remember, if you do spot any suspicious transactions in your account, alert your financial institution immediately. The sooner you identify fraud and notify your bank, the greater your chance of a speedy resolution.

For more information on how to stay safe online, visit

Sweetheart Scams to Watch Out for This Valentine’s Day

Valentine’s Day is on the way. Love is in the air and it’s easy to be swept away in those feelings of affection. But it’s important to remember that not everyone is who they claim to be. Valentine’s Day is a preferred time for many cyber crooks attempting to lure in unsuspecting victims who are looking for love.Liebe und Dating mit dem Smartphone

With the ever rising popularity of social media, it’s no wonder that many people turn to online dating sites and social media networks on their quest for romance. But while these types of websites can facilitate loving relationships, they can also be prime hunting grounds for scammers armed with fake profiles. According to the FBI, over $220 million was lost to online dating scams in 2016. To avoid these types of scams, it’s important to be on the lookout for them. If your online love interest is displaying any of these common warning signs, it’s probably best to walk away:

  • They prefer to speak with you through email, text, or online messaging, rather than talk to you on the phone. Oftentimes, a phone conversation can give an online scammer away. You may notice they have a strange accent, or that the number they’re calling from doesn’t match with the area they claim to be from.
  • They tell you they’re currently overseas traveling, or out of the country on business.
  • Their feelings for you seem to be growing extremely fast. If they’re already telling you they love you after a few conversations, you should be highly suspicious.
  • They always have an excuse for not meeting you face-to-face.
  • They tell you they need money for some type of emergency.

Even if you don’t notice anything suspicious about the person you’re getting to know online, it’s still a good idea to go into any new online friendship or relationship with your guard up. If anything seems off about the photos they’ve shared with you, you can run them through a reverse image searchAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon! on Google to see if they were taken from another person or website. It’s also a good idea to talk with your family and friends about your new love interest. Sometimes feelings of affection can blind us to warning signs that others can easily see. And perhaps the most important thing to remember with any new online acquaintance – never give them money. No matter what kind of story they give you regarding why they need money, it’s important to remember that you’ll likely never see your funds again if you wire money, mail cash, or give your bank account information to someone you’ve just met online.

And online dating scams aren’t the only “love scams” making the rounds this Valentine’s Day. There are flower delivery scams out there as well. One version involves an email claiming to be from a flower delivery company asking the victim to verify their credit card details before their flowers can be delivered. There’s even an in-person scam where victims receive a delivery of flowers or a package at their home, and the deliveryman tells them that there is a small delivery fee. They also tell the victim that the delivery fee can only be paid via credit card. In both of these scams, the crooks are looking to get their hands on your credit card information.

No matter what type of scam a criminal decides to use, the best way to prevent yourself from becoming a victim is to be on high alert. If you think you may have already been targeted by a scammer, there are some immediate steps you should take:

No matter what your relationship status, it’s important not to let your emotions cloud your judgement. Being watchful and vigilant can help protect your heart (and your wallet) this Valentine’s Day.


Establish an Emergency Fund for Life’s Unplanned Expenses

What happens if your car breaks down in the middle of the road? Or the boss tells you that the company is downsizing and you’ll be losing your job? What if your heating system decides to die in the middle of winter? Or you need to be hospitalized immediately? If any of these emergencies were to happen today, are you financially prepared for them? emergency-fund-for-lifes-unplanned-expenses

If your answer is “no,” then it’s a good time to think about setting up an emergency fund. Having enough money to cover unplanned expenses makes it easier to recover from life’s bumps and bruises, and can help alleviate stress in emergency situations and provide peace of mind.

But you may be wondering – doesn’t a credit card serve as a good backup for funds in case of emergencies? Of course it does, but you need to keep a few things in mind. For starters, credit cards provide borrowed money, which means you have to pay it back. And if you don’t pay it all back at once when your monthly statement comes due, you’ll be hit with interest. Interest charges can snowball pretty quickly, and for a lot of people they can lead to massive credit card debt.

Financial experts will tell you that an emergency fund should be part of every household budget. It should be as high of a priority as putting money aside for a down payment on a new house or car, or financing your child’s college education.

But how do you know what’s an adequate amount to have in an emergency fund? A good goal for your emergency savings account could be anywhere from three months’ worth of your salary to a year’s worth of your salary, depending on how much you make each year, and how prepared you’d like to be. When deciding the right amount of savings to aim for, think of what it would be like to unexpectedly lose your job. How much would be enough to pay for routine monthly household bills such as rent/mortgage payments, utility bills, and groceries? And how many months do you think it would take you to find a new job?

It may seem overwhelming to think about amassing that much money, but it’s okay to start small. By earmarking a certain amount of money to stash away in your emergency fund each month, you’ll be on your way to achieving your goal emergency balance. And one of the best ways to ensure you stick to your savings plan, is set up your paycheck to direct deposit a certain amount from each paycheck directly into your emergency savings account. If you don’t see the money, you likely won’t miss it! If your job offers direct deposit, your employer can likely help you set it up so your paycheck is split between your desired accounts.

Another way to reach your savings goals as quickly as possible is to stash your money in a high-interest savings account. Many online-only banks offer higher interest rates than traditional brick-and-mortar banks, because they have fewer overhead costs. Online banks save on costs associated with running physical locations, and they pass those cost-savings along to customers in the form of higher interest rates. The higher the interest rate, the more your money grows.

The key is to stick to your emergency savings plan, and make sure that you contribute to it on a regular basis until you reach your balance goal. You’ll be happy you did when an emergency arises and you have the money to pay for it without racking up debt.

Shield Yourself from Debit Card Fraud

Chances are, you know someone who’s been a victim of fraud. Maybe you’ve even fallen victim yourself. With daily stories about credit card fraud and identity theft hitting the news, consumers need to be proactive about protecting themselves from fraudulent activity.shield-yourself-from-debit-card-fraud

One type of fraud to stay extra cautious about is debit card fraud. With debit cards, the stakes are higher than with a credit card. If a thief gets his hands on your card information as well as your PIN, your entire bank account could be drained in minutes. And Federal law doesn’t protect debit cards to the same degree as credit cards. If you notify the bank within two days of discovering a lost or stolen card, the most you will be liable for in terms of fraud is $50. After two days however, your liability can jump to as much as $500, and after 60 days you could be liable for all of the fraudulent activity, depending on your financial institution.

So what is a debit card user to do? Luckily there are steps you can take to protect yourself, and your bank account from fraudsters looking to steal your financial information.

Beware of card skimmers. You’ve probably heard about card skimmersAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon! in the news, and unfortunately they’re becoming more and more prevalent. These are devices that criminals install over the legitimate card readers at ATMs and point-of-sale terminals like gas pumps and self-service store checkout lanes. When you insert your card into the reader, the skimmer captures the card information so the crook can access it. Many skimmers look so much like the real thing that they’re difficult to spot, but there are some key things to look out for. A good habit to get into is to look around at the terminals next to you to see what their readers look like. If they look different than the card reader at your terminal, it’s very possible yours is affixed with a skimmer. You should also always check for any signs of tampering, or any aspect of the card reader or keypad that isn’t aligned correctly. And if the color of the reader is different from the color scheme used on the rest of the terminal, it could also be a sign that a skimmer has been installed.

Look who’s watching. It’s not uncommon for crooks to install miniature cameras near ATMs and payment terminals, so that they can watch people enter their PIN numbers. A more low-tech, but equally painful scam involves “shoulder surfing”, where a crook will literally look over your shoulder to obtain your card number and watch as you type in your PIN. One way to protect against this type of intrusion is to shield the front of your card, and cover the keypad with your other hand to block the view of a camera, or anyone nearby, from seeing what you’re typing in.

Don’t put yourself in a vulnerable position. Perhaps one of the easiest, and scariest, ways for a criminal to steal your debit card information is to ambush you at the ATM and demand your card and PIN number. To safeguard against this type of attack, try to conduct ATM transactions during daylight hours. If you do need to use an ATM at night, make sure you pick one that’s in a well-lit area. And if you see someone who looks suspicious lurking near an ATM, don’t use it.

Be wary of helpful strangers. In one type of unsophisticated debit card scam, the perpetrator will insert something into the card reader prior to the victim using it which will cause the card to get stuck in the machine. The crook will commonly offer help by telling the victim that entering their PIN again should get the card out, and they’ll watch closely while the PIN is re-entered. Of course, the card won’t come back out, and when the victim leaves, the criminal uses tools to get the card out of the machine, and walks away with the victim’s card and PIN number. Anytime your card gets stuck in an ATM, forego any offered help from a stranger, and instead immediately notify your financial institution and the owner of the ATM.

Keep close tabs on your account. Use online and mobile banking to check your account balance and card activity at least weekly, and sign up for account alerts if they’re available from your financial institution. These notifications will help keep you up-to-speed on any irregular activity in your account, so you can report it immediately to your financial institution.

Staying alert and being on the lookout for anything amiss is the best line of defense in protecting yourself from debit card fraud. Debit cards can be a convenient tool for helping you to manage and access your money, but it’s also important to know the risks associated with debit card use, and how to minimize them.

Stay Vigilant While Shopping Online This Holiday Season

Holiday shopping sure isn’t what it used to be. People are turning away from the craziness of the mall, and are instead using their smart phones, laptops and tablets to buy their

If you’re ditching the usual shopping experience for the less-stressful digital one, you’ll be in good company. Millions of people are expected to head online this year for their gift-giving needs.

But while online shopping provides greater freedom and convenience, it can come with some risks. Cyber criminals are prowling the internet – especially during the holiday season – looking to steal personal and financial information from unsuspecting shoppers. But the good news is that you can keep yourself and your wallet safe by staying on high alert. So, while working your way down your gift list this year, here are some online security tips to consider:

Stay away from sketchy sites. Whenever possible, do your shopping on popular, well-known websites. If you are tempted to buy from an unfamiliar site, be sure to do your research first. Google the name of the company to see if there are any scam alerts, or bad reviews out there. You would never give your credit card information to some creepy stranger on the street, would you? That’s really no different than giving it to some website you know nothing about.

Be wary of any deals that sound too good to be true. Say you’re surfing around and you find a price for an item that’s unbelievable. Chances are that it’s bogus. That’s one of the ways crooks lure in unsuspecting buyers to their sites. Once there, they have ways to con you out of sensitive banking and credit card information.

Be on the lookout for “imposter” sites. Even if you’re looking to buy from a website with a great reputation, or one that you’ve purchased from multiple times, you still need to have your guard up. Online scammers have been known to create fake, bogus sites that mirror the ones you know and trust. So, be sure to double-check the address bar of your favorite online store before entering your sensitive information. If you’re looking to buy on, but you notice that the URL reads “”, then you’re not really on, you’re on a site called “” that is posing as BestBuy.

Only shop on secure sites. Before typing in your credit card or personal information online, it’s extremely important to verify that your connection to the website is secure. If the connection is not secure, it means the data you enter will not be encrypted, and can be easily accessed by cyber crooks. You can tell whether you are on a secure, encrypted connection by checking the URL in your browser’s address bar. If the URL begins with “https”, and there is an icon of a lock to the left of the URL, it means the connection is secure.

Don’t shop using free Wi-Fi.  Free, public Wi-Fi connections typically don’t have the best safeguards in place to protect you, such as firewalls and encryption technology. The same goes for public computers – they’re usually just as unsafe. If you’re out and about using public Wi-Fi or a shared device, wait until you get home to do your online shopping.

Know your apps. Only use trustworthy apps when mobile shopping. More and more people are turning to their smartphones to shop, and if you’re one of them, use apps provided directly by a retailer. Just as there are many bogus websites out there, there are just as many phony apps waiting to take advantage of you.

Keep up with updates. Make sure your devices have the latest versions of security software installed. And be sure to use the most recent version of your operating system and web browser. This will help ensure that you are properly defended against any newly identified viruses or malware.

Monitor your accounts. You should check your banking and credit card accounts on a regular basis, at least once a week if possible. If you come across any suspicious activity or unauthorized purchases, report them immediately to your bank or credit card issuer.

Most importantly, don’t let your guard down while shopping online. Being on the lookout for anything suspicious will go a long way to keeping your sensitive information safe. Stay vigilant, and don’t let your holiday be ruined by cyber crooks!

Earn Interest with a Checking Account

It pays to have a checking account with an online bank – literally.

While many traditional checking accounts at brick-and-mortar banks do not earn any interest, online banks are a different story. Because online-only banks don’t have physical branches, they have less overhead costs than their brick-and-mortar counterparts. This allows them to offer high-yield, interest-bearing checking accounts.
Man writing a check

Many interest checking accounts require you to maintain a minimum balance in order to earn interest, and some accounts have certain requirements that must be met – such as a minimum number of debit card transactions – in order for customers to qualify for the stated interest rate. It’s important to note that some banks also cap the balance you can earn interest on. At Bank5 Connect, we try to keep it simple by offering a high-interest checking account with a minimum balance of just $100 to earn interest. There are no balance caps, and no additional hoops to jump through. There are also no monthly maintenance fees associated with the account. Learn more about our High-Interest Checking account here:

It’s important to keep in mind that oftentimes, interest-bearing checking accounts require you to conduct all of your banking activities online. This will probably be expected if you’re opening an interest checking account at an online bank that doesn’t have any physical branches, but it may come as a surprise if you’re opening an interest checking account at a local bank down the street. Some brick-and-mortar banks do in fact offer interest checking accounts, but it’s not uncommon for them to charge those customers a fee for in-branch transactions. They typically do this as a trade-off to help the bank offset the interest the customer is earning.

So, before opening an interest-bearing checking account, be sure to read all of the fine print to understand how, where, and when you will have access to your money. With a Bank5 Connect High Interest Checking account, our customers have free access to thousands of ATMs nationwide through the SUM NetworkAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon!. And, if they use an ATM outside of that network we still won’t charge them, and we will reimburse them for other banks’ surcharges up to $15 per statement cycle.

There are many high-yield, interest checking accounts out there to choose from, so be sure to review all of your options to find the account that’s right for you. Customer reviewsAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon!, and websites like GoBankingRatesAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon!, NerdwalletAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon! and The Simple DollarAs a courtesy, you will be leaving and going to another website. We have approved this site as a reliable partner, but you will no longer be under the security policy of Come back soon! can help you compare what’s out there.

12 Ways to Protect Your Mobile Device

Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. Follow these tips to keep your information – and your money – safe.AdobeStock_94918198

  1. Use the passcode lock on your smartphone and other devices. This will make it more difficult for thieves to access your information if your device is lost or stolen.
  2. Log out completely when you finish a mobile banking session.
  3. Protect your phone from viruses and malicious software, or malware, just like you do for your computer by installing mobile security software.
  4. Use caution when downloading apps. Apps can contain malicious software, worms, and viruses. Beware of apps that ask for unnecessary “permissions.”
  5. Download the updates for your phone and mobile apps.
  6. Avoid storing sensitive information like passwords or a Social Security number on your mobile device.
  7. Tell your financial institution immediately if you change your phone number or lose your mobile device.
  8. Be aware of shoulder surfers. The most basic form of information theft is observation. Be aware of your surroundings especially when you’re punching in sensitive information.
  9. Wipe your mobile device before you donate, sell or trade it using specialized software or using the manufacturer’s recommended technique. Some software allows you to wipe your device remotely if it is lost or stolen.
  10. Beware of mobile phishing. Avoid opening links and attachments in emails and texts, especially from senders you don’t know. And be wary of ads (not from your security provider) claiming that your device is infected.
  11. Watch out for public Wi-Fi. Public connections aren’t very secure, so don’t perform banking transactions on a public network. If you need to access your account, try disabling the Wi-Fi and switching to your mobile network.
  12. Report any suspected fraud to your bank immediately.