DO's and DON't for Safe Banking (2024)

FAQs

DO's and DON't for Safe Banking? ›

More importantly, keep the password confidential at all times. Do not share your details with anyone: Your bank will never ask for your confidential information via phone or email. So whether you get an apparent phone call from the bank or an email requesting your details, do not give out your login information.

Don't share your Debit / Credit cards with any one. Don't share your personal information like Debit card details/PIN/CVV/OTP/Card Expiry Date/UPI PIN, over phone mails/e mail/SMS to anyone even though some one pretending to be bank officials.

Ensure your devices always have the latest browser and security software. Never use public computers or devices to do your Internet Banking. Sign out of your banking profile as soon as you've completed your transaction. Always type our URL into your browser.

Only provide sensitive personal or financial information when you have initiated it and only if the page is secure. Choose passwords or Personal Identification Numbers (PINs) that are difficult to guess and use a different password for each of your Internet accounts.

The ethical banking movement includes: ethical investment, impact investment, socially responsible investment, corporate social responsibility, and is also related to such movements as the fair trade movement, ethical consumerism, and social enterprise.

How do I open a safe deposit box? To open a new safe deposit box please visit your nearest financial center. You can schedule an appointment with an associate at your local financial center for a day and time that work best for you.

The SAFE Banking Act is designed to prohibit federal regulators from punishing financial institutions for the sole reason that they choose to provide such services to cannabis companies, their owners, and their employees.

Is it safe to bank on your phone? ›

As long as you're taking steps to protect your data -- such as avoiding public Wi-Fi and enabling multifactor authentication -- using a banking app to manage your money is safe.

The Safe Banking Act, officially known as the Secure and Fair Enforcement Banking Act of 2023, is legislation designed to facilitate banking and financial services for the cannabis industry by providing federal protection for financial institutions that offer services to cannabis-related businesses operating legally ...

These risks are: Credit, Interest Rate, Liquidity, Price, Foreign Exchange, Transaction, Compliance, Strategic and Reputation. These categories are not mutually exclusive; any product or service may expose the bank to multiple risks.

Never click on a link from an e-mail you get. Be Secure: Keep your operating system and browser up-to-date with the latest security patches. Install these only from a trusted website. Keep your passwords, Personal Identification Number (PIN) and card numbers confidential.

Banks can't lend out all the deposits they collect, or they wouldn't have funds to pay out to depositors. Therefore, they keep primary and secondary reserves. Primary reserves are cash, deposits due from other banks, and the reserves required by the Federal Reserve System.