Certainly, you must have stumbled on headlines like this;
Beyond doubt, you must have also had close calls on how people got swindled or almost swindled in an almost similar manner. Perhaps you have acquaintances or relatives directly affected at least one or more times?
The point is, these cases are becoming rampant lately. Now the question is what do you need to do to prevent such unpleasant happenings, especially with your Cowrywise account?
How safe your Cowrywise account is, depends on several factors.
Relax! The intention is not to scare you 🤗. Cowrywise has put a couple of security measures in place to ensure the safety of your funds. However, we need you to understand that several things could go wrong if you do not take personal precautions. As a result, below are a few ways you could ensure better security on your account to avoid such unpleasant situations:
1. Passwords/PINs should be personal and difficult to guess
Ensure that your password is known only to you. There have been cases where people have gotten access to other people's passwords and have moved sums of money from their accounts. Limiting access to your passwords and setting complex passwords would help prevent this to a large extent.
2. Do not click on funny links/messages
Many a time, you see links about gifts, free money or free rewards. Oftentimes, these links are just financial death traps. They are links to gain access to your account somehow by hackers and access your financial barns. Avoid them by all means, as hackers have devised this strategy to get details to your account(s).
3. Activate 2FA on your accounts
Are you aware that one of the most effective ways to keep your account, and data safe is to have 2FA set up? To better secure your Cowrywise account, you should activate the Two Factor Authentication. It is a higher level of security on your account that ensures only you can move money out of your Cowrywise account. A code, generated from the authenticator app, has to be inputted before any transfer gets processed. To know more about 2FA, click on this link and set up yours ASAP.
4. Disregard calls from strangers requesting very sensitive details
Have you ever received calls from strange numbers requesting certain details like transaction PINs, BVN details, passwords, OTPs, etc? These are the kinds of sensitive information you should NEVER give anyone, talk more of strangers.
It is in your best interest not to share such sensitive information with strangers.
There is no need to engage in the conversation. It is not the time to get curious, just end the call!
Let me share a short story with you. A middle-aged woman received a call from a foreign number, claiming to be her uncle from London. He told her he had sent lots of goodies, clothes, jewellery and some money. She was super excited and forgot she had no uncle in London. After sensing her excitement, the acclaimed "Uncle London" requested some personal details from her. At first, she almost gave them out but for her son who drew her attention to the fact that she had no uncle in London. It dawned on her, he was telling the truth and they went ahead to ask a couple of questions. "Uncle London" became uncomfortable and could not answer these questions as he knew his cover has been blown. He dropped off the call out of annoyance and that was how the said woman was saved from fraudulent actors
5. Be very careful about granting biometric access to your account
Technology has made life very easy, but it would do you great good if you try to understand where, how and when to apply the ease of technology. Granting fingerprint or face ID access to finance apps like your Cowrywise app, could make it convenient to access these platforms and ensure ease of transactions no doubt. On the other hand, it could pose a fraud risk, especially if your device is easily accessible by multiple people. You can explore the option of typing your password instead.
6. Be discreet about financial transactions in public
Another thing you should be very wary of is talking about how much you have in your savings, how much you sent to a certain account, or how much you have in investments, in public. These details should be personal. You can stall conversations like that until you get to a private space. Try to be as low as possible if you have to say anything regards your finance because you never can tell who is listening.
Please ensure that you have your balance hidden if you have to open your Cowrywise account in public because you never can tell who is peeping. You can do that now!
The hide balance feature is the eye symbol where your total balance is.
In conclusion, your Cowrywise account is absolutely safe, as we have put some security infrastructure in place to ensure your safety. However, we need you to do your own bit in ensuring the security of your savings and investments. I trust that after reading this, you would agree with me about how important it is to keep your account secure. I hope this helps you understand more, "how to ensure better security on your Cowrywise account".