The number of households using electronic billing and payment is quickly growing.  In fact, “According to the financial information management company FISERV, the number of American households paying bills online has doubled …up from 15.3 million in 2004 to more than 36 million last year.” Source. With the number of people using electronic billing and payment increasing year to year, it isn’t a surprise that security becomes a forefront concern.

Even though electronic billing and payment is now very secure (SmartPay is PCI compliant; if you missed our blog on that, check it out here). It is still important to take extra precautions when securing your personal information online.  Here are 5 simple steps to ensure extra security.

1. If you print off statements for your records, shred them.  Even users of electronic billing and payment may print something off every now and then—and sometimes it is hard to remember to shred the information if you aren’t used to paper bills anymore.  But it is important to make an effort to do this, as the Federal Trade Commission (FTC) estimates about 9 million Americans are affected by identity theft every year .   Learn more about identity theft here. 

2. Never respond to e-mails requesting important personal information.  Phishing and hackers are major, valid concerns in today’s Internet-driven society, and any legitimate company with which you do business will never request important personal information via e-mail.  If you receive a suspicious e-mail, be sure to contact a representative of your bank or of the business for which the hacker may be pretending to pose.

3. Check your online accounts regularly.  It is important to keep an eye on your bank account, as well as any online shopping accounts or other online accounts.  Staying on top of your purchases and information will help you notice right away if there seems to be any tampering with or fraudulent purchases toward your accounts.

4. Keep your computer secure.  Make sure your computer and information is kept secure, and try to do all of your online financial business and bill paying at your home.  Don’t take your laptop to a public place (i.e.; a restaurant, the local coffee shop) to do your bill paying, as there is more risk if you are connecting to a network you don’t know is secure or if you are around a lot of people.

5. Make your passwords strong.  Don’t use the same password for multiple accounts, and don’t write your passwords down.  Make them long in length and very unique; using special characters and a combination of upper and lower case letters helps.  Change your passwords regularly.  Every 3-4 weeks is an ideal span of time, and be sure it isn’t a password that someone would easily be able to guess.

Following these and other simple guidelines will help you keep your information more secure, and will make the use of online accounts and online bill paying much more enjoyable!