3 Important Safety Tips for Digital Transactions During Lockdown

Due to the COVID-19 pandemic, “Stay In, Stay Safe” is the new mantra everybody is living by right now. You’re working from home and stepping out only when necessary. When you do step out, your face mask is your biggest weapon against the virus, and you’re also careful to practice social distancing. Everyone’s home for extended periods, and we’re carrying out almost all tasks online (as much as possible). This includes financial transactions, as well. While people were already familiar with online payments, wallets, and UPI apps, the frequency of digital transactions has skyrocketed since the pandemic. Here are three important safety tips to ensure that you transact safely online:

1.    Transferring Money Online? Recheck Everything

This is true, especially if you’re sending money to someone for the first time. You may need to repay a friend you borrowed money from or pay your cab driver for a trip. Ensure you enter all the required details correctly. This includes their bank name, account number, and IFSC code. You can search for the IFSC code online if you don’t have it. Before making the transfer, ensure all the details are correct. You can even ask the recipient to check the particulars from his end as well. If even one single digit is wrong, you might end up transferring money to someone else. A good way around this is to send a small amount first. If it’s successful, you can send the rest of the money.

2.    Beware of Fraudsters and Scammers

While I’m sure you think that you’ve heard this a hundred times, that’s because people still fall prey to online fraud even today. Please exercise caution before you share sensitive banking information or your account details with anybody. There’s no reason for you to give out your passwords to anyone, especially if they’re claiming to be a representative from your bank or any third-party payment app. Your bank will never ask you for such information under any circumstance. So, if anyone asks you for your debit card details or UPI PIN, please block them immediately.

3.    Transact Only with Verified Merchants

If you need to transfer funds online, then using a UPI app is also a great option. Most banks have their own UPI mobile app, which makes it easier for their customers to transact online. Since your UPI app is linked to your bank account, do exercise adequate caution. First off, please use your UPI app only if the merchant doesn’t have a POS machine. If they don’t, make sure the merchant is verified/authorized and not a random person. Don’t share details like the PIN, OTP, or even the SMS, also if the merchant asks to see it. This is a clever ruse adopted by fraudsters to look at your details as ‘proof’, claiming that the transfer has failed.

Wrap Up

The above three points are some necessary steps you can take to ensure the safety of your online transactions. Even when you’re dealing with third-party links or apps, make sure it’s a genuine one and that you trust that it’s safe before you download it. If you’re looking for an app for advance salary, KreditBee is entirely safe and secure. You can avail personal loans up to ₹2 Lakhs in your bank account in as little as 15 minutes! Just download the KreditBee app from the Google Play Store, complete your profile, and leave it to us to process your application. To learn more, you can write to us at [email protected] or reach us at +080 44 292 200.

Author image
About KreditBee
India Website
Need a personal loan? Download App
Bootstrap Example