Learn about the importance of bank account security and discover eight vital steps to enhance it.
One of the factors limiting financial inclusion among the unbanked is the perception that banks are not safe to store money. This concern increases exponentially with digital banking platforms as the suggested mode of banking. News headlines such as “Electronic Fraud: I called my bank to block my account but the criminals still cleared my money” and “78,584 e-payment fraud cases recorded in one year” do not help the assertion that digital payments are safe and secure.
However, the truth is that your money is safer in a bank than it is hidden under your bed at home and safer with digital wallets like PalmPay, whose deposits are insured by the Nigeria Deposit Insurance Corporation (NDIC). For your money to remain secure, aside from the security measures put in place by banks and fintechs, you owe it to yourself to take safety precautions by following these eight vital steps to enhance your bank account security. Create strong passwords Passwords should be complex but easy to remembe
Bank Account Security Digital Banking Financial Inclusion Unbanked Digital Payments Palmpay Nigeria Deposit Insurance Corporation NDIC Passwords
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