1) Change your password
Security experts recommend changing your password on your online banking account at least four times a year. Is it a chore? Absolutely. Is it worth it? Yes.
Banking scams reached new heights last year and all it took was a bunch of cybercriminals getting hold of your sensitive data through social media or through online sites you may have visited. This year could be the year you use a password manager or a system that allows you to update your passwords more frequently than you've done in previous years.
2) Check out the AFCA website
The Australian Financial Complaints Authority is the go-to organisation to get compensation from a bank that made a serious financial error or acted inappropriately towards its customers.
It can resolve your complaint before you escalate the matter to court. Since 2018, it has helped more than 300,000 Aussies get $900 million in compensation and refunds. Some of the complaints it has resolved include unauthorised transactions, delays in insurance claim handling and denial of insurance claims.
This story is from the February 2023 edition of Money Magazine Australia.
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This story is from the February 2023 edition of Money Magazine Australia.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
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