While the recent global financial crisis may give you pause, the truth is that there is no safe place for your money but one of the many banks that exist today. After all, the crisis actually had very little impact on day-to-day trading average people. While many people distrust our financial system and have turned to other ways to save your hard earned their dollars. The truth remains that whether it is checking, savings or other type of account, the best place for your money is in a vault friendly neighborhood financial institution.
Part of the reason behind this is that the banks provide security beyond simply can not. Gone are the days of Bonnie and Clyde – robberies of the kind rarely happen today, and when they do occur, criminals almost never get away with it. Security, strong vaults and safety technology are all part of an excellent system which keeps money safe.
But since most of our daily business come with debit cards rather than cold, hard cash, many worry financial institutions and digital security. Sure there is not much you need to worry about digital security and money. All financial institutions have invested in state-of-the-art encryption and digital barriers that keep hackers and would-be crooks out of your accounts.
In fact, the greatest risk your money is you! We do not keep tabs on where you use your debit card, you open up the risk of having your account hacked or even your identity. Make sure you only use a debit card a solid retail especially when it comes to online shopping. Also, if you have access to online features of your checking or savings account, make sure you choose a strong connection information and avoid reusing passwords or usernames from other sites. While banks may be more difficult to hack, there are other accounts online website much easier and thieves may try to reuse the information elsewhere on the Internet.
Since many banks are aware of the dangers of hackers and thieves pose to their customers, they now offer online tools and training to help people keep their money safe. Some of these tools are custom pass phrases and images that the user selects. Financial institutions are also able to monitor spending and can notify you when unusual charge appears. They can even temporarily lock your account if it is suspected activities such as spending outside the country or unusual purchases. The only problem with this is if it is really you who are traveling or spend money, but you can simply call the company and explain and account back immediately.
While you can still hear the concerns about the financial situation of the news, sure banks have your best interests at heart. The money is in good hands when you entrust it to a local financial institution.