Online banking has proven to be an efficient, environment-friendly way to pay bills and manage bank accounts. For all of its benefits though, there are still safety precautions churches need to take to protect their money. Mark Jones, money management expert for Evangelical Christian Credit Union (ECCU), offers several tips for keeping online banking safe and secure:
- Have dedicated IDs and passwords that you only use for online banking.
- When you travel, don't use public Wi-Fi for online banking. Use things like VPN or air cards instead.
- Avoid using automatic login features that save your user ID and password information.
- Determine who needs access to your accounts and tightly control entitlements. Delete users when they leave your organization.
- Utilize email or text alerts to notify you of specific account activity (e.g., incoming wires, balance notifications, and so on).
You can read Mark's full list of guidelines and tips at ECCU's blog.
The September 2013 edition of Church Finance Today further covers the emerging risk of electronic embezzlement.
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