How to protect your bank account: 6 steps

From depositing checks to making bill payments, online and mobile banking has made it easier than ever to manage your bank account from wherever you are. Capital One’s top-rated mobile app is a prime example. Use it to easily manage your 360 Checking and 360 Performance Savings accounts from almost anywhere.

While enjoying the benefits of online banking and digital finance tools, it’s important to remember security and fraud prevention. That’s because cybercriminals are a growing threat, especially as they use more sophisticated methods to steal personal information online, in some cases even impersonating you.

In 2025, the FBI’s Internet Crime Complaint Center received over 1 million complaints with reported losses exceeding $20.8 billion. Of those, cyber-enabled fraud accounted for more than 450,000 complaints and $17.7 billion in reported losses.

Scammers can use a number of techniques to try to access your bank account. These include tactics from fake emails that ask you to confirm your username and password to malware that steals your information when you’re on public Wi-Fi.

Given how common these tactics have become, it’s important to protect yourself from scammers, fraudsters and hackers, says Steve Weisman, editor of a fraud information website. “There are things you can do to keep yourself safe,” he says.

Wondering how to protect your bank account? If you take these steps, you can help improve your account security to bank online with confidence.

A strong password is the first step to protect your bank account from hackers. But reusing that same password across multiple accounts can put all of them at risk if one password is exposed. Weisman notes that if a hacker uncovers that password, it can make it easier for them to access your other accounts. This can potentially include bank accounts with your sensitive financial or payment information.

Jeremiah Grossman, security strategist at a cybersecurity company, agrees. “What’s most important about passwords isn’t strength or ‘guessability,’ but that the passwords are not the same across accounts,” he says.

Managing multiple passwords may seem overwhelming, but you don’t have to remember them all on your own. Simple strategies can make it easier to create and keep track of unique passwords.

Weisman recommends this technique for creating account-specific passwords: First, choose a base sentence that includes a mix of letters (uppercase and lowercase), numbers and symbols. Just be sure to stay clear of using any personal information.

Next, add to this password for each account. Weisman gives an example with the base password, “IDontLikePasswords1!” If you follow this method, your next password could be something like “IDontLikePasswords2!”

To keep track of your many passwords, including the one for your bank account, you might want to download a password manager. A password management tool allows you to store passwords without needing to memorize them. Even better, many of these tools create strong passwords for you.

For an even simpler option, you can physically write your passwords down. “While less convenient, it’s easier to protect a piece of paper than files on your computer,” Grossman says. If you keep your passwords in a physical document, store it in a safe, locked location where others can’t access it.

You should regularly update your bank account password as well as your passwords for other financial and personal accounts. But how often? “Changing passwords once every year or two should work,” Grossman says.

Both Weisman and Grossman advise that while occasionally changing your passwords is a good idea, using a mix of passwords is more important to protect your bank account from hackers.

You may be asked to answer a security question if you forget a password or log in to an account from an unfamiliar device. Security questions deserve the same careful attention as your passwords. Choose answers that are difficult for others to guess to help protect your bank account and reduce the risk of identity theft.

Two layers of defense are better than one to protect your bank account from fraud. That’s where two-factor authentication comes in. With this method, you’ll need your password and another proof of identity, like a one-time code sent to your phone to log in to an account. Even if hackers get a hold of your bank account login, it would be difficult for them to sign in without your second verification.

In some cases, two-factor authentication is only required for certain actions. For example, you may need to verify your identity when logging in from an unfamiliar device or updating your personal information.

Grossman also recommends downloading an authenticator app to help protect your personal information online. This type of app generates a code directly on your phone instead of delivering it to your phone, which reduces the likelihood of interception. While each authenticator app works differently, you will typically be able to set it up to work with different accounts of your choosing.

From your favorite coffee shop to your local library, public Wi-Fi is available all over. But is it safe to use? Weisman says it depends on what you’re doing online.

If you’re browsing the news or reading blog posts it’s probably fine, he says. If you’re doing anything that requires login information, such as signing in to your online bank account, it’s best to avoid such activity, he adds. Why? When you use public Wi-Fi, the open connection could allow cybercriminals to potentially grab your username and password as that information passes between you and your bank website.

Yet there may be a solution for how to protect your bank account. “If you have to use public Wi-Fi, a virtual private network will encrypt everything,” Weisman says. A virtual private network (VPN) is software or an app that routes your internet connection through a different server, making it appear as if you’re connecting from another location. The encryption and routing your connection through a different server can both make your online activity harder to trace and add another layer of protection against identity theft.

If you ignore software update notifications that pop up on your devices, you may want to reconsider. You could be putting yourself at risk if your device isn’t updated. That’s because hackers search for security holes in systems, Grossman says.

In addition to keeping your software up to date, remember to patch it on a regular basis. A patch is software that provides codes to cover any security holes. They’re often included in software updates, so it’s possible you’ll be automatically notified when they are available. If not, you can always check your device for patches to download.

Together, these are effective methods to protect your bank account from fraud, Grossman says.

Keeping your software updated and patched can also be used as one of many methods that may help safeguard you from phishing and malware. Phishing is a common email scam where fraudsters attempt to obtain sensitive data like passwords or credit card information by posing as a trustworthy company. When your software is up to date, you may be protected from exposure to malicious software you unknowingly download due to phishing.

If the ads on your screen seem too good to be true, they might be—even when you’re on a legitimate website. “Malvertising,” where cybercriminals create ads infected with malicious codes, is another scam that can leave your bank account exposed.

How does malvertising work? Say that you see an ad offering a free program. Once you click on the infected ad, malware may be downloaded to your device that can potentially steal information about your identity, Weisman says. In some cases, loading the webpage with the corrupted ad is enough to trigger an attack.

But there’s an easy way to avoid malvertising and protect your bank account from hackers: installing ad blockers. Many ad-blocking tools are free and easy to download. By blocking ads, your chance of interacting with an infected ad is removed, Weisman says.

As you work to protect your bank account from fraud, research the security measures your bank uses. When you maximize your bank’s security features, it’s easier to keep your sensitive information safe. Be sure to check the specific security features listed on your bank’s website or mobile app. For example, all Capital One bank accounts feature account security and fraud protection.

Some banks allow customers to use a fingerprint or facial ID login to safely and securely access their account on their smartphone. This is a form of biometrics, which uses physical characteristics to identify you. Biometrics can help prevent access to your bank account on lost or stolen devices.

Lastly, set up regular alerts. Many banks will send alerts to users if their account is overdrawn or when they have a profile update.  

Protecting your bank account from fraud, scams and identity theft starts with a few simple security habits. Taking these steps to secure your accounts, devices and online activity can help keep your personal and financial information safer:

• Use unique passwords: Avoid reusing passwords across accounts, especially for financial accounts.

• Add extra layers of security: Enable two-factor authentication and use tools like a VPN when appropriate.

• Keep your devices protected: Update and patch your software regularly. Also, consider using ad blockers to help reduce online security risks.

Keeping your accounts secure and choosing the right banking tools allows you to manage your money online with greater peace of mind.