Category Archives: Mobile Banking, Online Banking & Bill Pay

Adapting to a Cashless World: How to Use Digital Wallets Safely

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More and more businesses are going cashless these days. From coffee shops to online retailers, digital payments have become the norm. While this shift brings convenience and speed, it also calls for smart habits to keep your personal and financial information safe.

Whether you’re new to digital wallets or looking to level up your security, here’s how to navigate this increasingly cashless world with confidence.

Understanding Digital Wallets: The Modern Way to Pay

Digital wallets like Apple Pay®, Google Pay™, and Samsung Wallet™ allow you to make secure payments using your smartphone, smartwatch, or tablet. These apps store your debit or credit card information and use encryption and tokenization to protect your data.

Benefits of using a digital wallet:

  • Tap-to-pay convenience at checkout.
  • Added security through biometric authentication (like fingerprint or Face ID).
  • No need to carry multiple physical cards.

If you’re a First Financial member, your debit and credit cards can be added to most major digital wallets for fast, secure transactions in person or online.

Stay Smart About Security

While digital wallets are secure by design, it’s important to be aware of some things that could put you at risk. Here are some key tips to protect yourself:

1.    Don’t Use Website Card Storage

It might be tempting to save your card info on your favorite shopping apps or websites for faster checkout, but that opens the door to more risk if those platforms get hacked. Stick with secure digital wallets instead of storing payment details directly in online or retailer accounts.

2.    Avoid Saving Card Info When on Public Wi-Fi

Public networks at airports, coffee shops, and hotels are not secure. Never enter or save sensitive card information when connected to an unsecured network. If you must make a transaction on-the-go, use a personal hotspot or a trusted mobile connection.

3.    Enable Multi-Factor Authentication

Add an extra layer of protection to your banking and wallet apps with multi-factor authentication. This typically means entering a code sent via text or email in addition to your password.

4.    Keep Your Apps Updated

Outdated apps may lack the latest security protections. Keep your mobile banking app, digital wallet, and device operating system current to protect against vulnerabilities.

First Financial Tools to Help You Go Cashless with Confidence

As a First Financial member, you have access to a full suite of digital banking services to support a cashless lifestyle:

  • Mobile Wallet Compatibility for secure tap-to-pay transactions.
  • Mobile Banking App for your First Financial account monitoring, transfers, and alerts.
  • Card Controls to turn your First Financial cards on/off instantly if lost or stolen.
  • 1 Click Remote Deposit so you can deposit checks without a trip to the branch.

Going cashless doesn’t mean giving up control, it means gaining tools that work smarter and faster. If you have questions about setting up your digital wallet or using your First Financial cards safely online, our team is here to help. Visit firstffcu.com, give us a call at 732-312-1500, or stop by your nearest branch to learn how to make digital payments safely and confidently.

*You must have an account at First Financial Federal Credit Union (serving Monmouth and Ocean Counties in NJ), and be enrolled in First Financial online banking, to use our mobile application or digital wallet. Standard data rates and charges may apply.

How to Protect Personal Information on Your Phone

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Smartphones are like digital vaults. They hold our conversations, banking information, emails, passwords, photos, and more. But all that convenience comes with risk — if your phone falls into the wrong hands or gets hacked, your personal information could be compromised.

At First Financial, we know how important it is to keep your information safe. Follow the steps below to protect the personal data stored on your phone.

1. Lock Your Phone with a Strong Passcode

Start with the basics: Set a secure lock screen. Whether it’s a passcode, fingerprint, facial recognition, or a combination – this is your first line of defense against unauthorized access. If you use a numeric passcode, make sure it’s at least six digits long, and avoid obvious choices like 123456 or your birthdate.

2. Keep Your Phone and Apps Updated

Software updates aren’t just for new features, they’re critical for patching security vulnerabilities. Enable automatic updates for your phone’s operating system and all installed apps when new versions become available. Updates often include fixes that block hackers from exploiting weaknesses. It’s one of the easiest — and most important — ways to protect your device.

3. Use Two-Factor Authentication

Many apps on your phone, like banking, email, or shopping – contain sensitive information. Enable two-factor authentication (2FA) on those accounts whenever possible. This adds an extra layer of security by requiring a second verification step, like a temporary code sent to your phone, in addition to your password. Even if someone manages to steal your password, they won’t be able to access your account without that second factor.

4. Create Strong, Unique Passwords

Strong passwords are a must, but they can be hard to remember. Consider using a password manager app, like Google Password Manager, to generate and store unique passwords for all your accounts. That way, you’re not relying on the same one or two passwords for everything. When creating a password, aim for at least 15 characters with a mix of letters, numbers, and symbols. Avoid using easy to guess information, like birthdays or pet names.

5. Be Cautious with Public Wi-Fi

Free Wi-Fi is convenient, but it’s also risky. Hackers can intercept data on unsecured networks. Avoid accessing sensitive accounts like your bank or credit card when using public Wi-Fi at a coffee shop, airport, hotel, etc. Consider using a virtual private network (VPN) to encrypt your connection and add a layer of privacy when on public networks.

6. Turn On Phone Tracking and Remote Wipe Features

If your phone is ever lost or stolen, tracking and remote wipe tools can help. Enable “Find My iPhone” (Apple) or “Find My Device” (Android) so you can locate your phone, lock it, or even erase the data remotely if needed. This ensures your private information stays out of the wrong hands — even if your phone doesn’t make it back to you.

7. Be Selective About App Permissions

When you download a new app, it may request access to your contacts, location, camera, or other sensitive areas. Only grant permissions that are necessary for the app to function, and/or only when the app is being used. Review your existing apps regularly and revoke any permissions that seem excessive.

8. Watch Out for Phishing Messages

Scammers can send text messages or emails that look like they’re from a trusted source. These messages may include links that install malware on your device or ask for personal information. Avoid clicking on suspicious links, and never provide personal details unless you’re absolutely sure of the sender. Check out our Important Alerts & Scams blogs to learn more about phishing and how to protect yourself.

Stay Secure with First Financial

Your phone holds a lot of personal information — do everything you can to keep it secure. Taking just a few simple steps can greatly reduce your risk of identity theft and fraudulent activity.

Need help protecting your finances or setting up First Financial mobile banking security features and alerts? We’re here to help. Call us at 732.312.1500 or visit your local branch.

How to Prevent Person-to-Person Payment Scams

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Person-to-person (P2P) payment options have certainly made paying back borrowed money to friends and family very convenient. From going out to eat and splitting the tab, to chipping in for a gift, or paying a trusted contact for a service – P2P payment services have made our lives quick and easy. However, if you are a user of a P2P payment service such as Zelle, Square Cash, PayPal, Venmo, Facebook Payments, Google Wallet, Apple Pay, Payzur, and the like – buyer beware.

Continue reading to ensure you know how to spot a P2P payment scam so that you don’t fall victim to this type of fraud. P2P scams are extremely serious, because the victim unfortunately usually is not protected from money lost and fraudulent access to their account(s).

Why are victims of P2P scams usually not protected?

Due to the fact that P2P transactions are consumer initiated, there is not much protection when a fraudulent transaction occurs – because technically the consumer authorized the transaction. Whether it’s the actual consumer or a fraudster who initiated the payment service transfer, there really is no way to prove it. In addition, user error is often not covered either. Most P2P apps have user agreements prior to first time use, where the user agrees when money is sent through the app – any losses are on the user, since they authorized a transaction.

Recently, Zelle’s P2P service added a measure to help prevent users from sending money to the wrong person. Zelle now includes a pop-up warning if a user is trying to send money to someone who is not in their contacts, which makes them think twice before allowing the funds to leave their account.

How does a P2P scam work?

A P2P scam is basically an account takeover scam. Fraudsters will send text messages to an unsuspecting consumer, appearing as if the message is coming from the individual’s financial institution.

  • The text will usually appear to come from the individual’s financial institution (aka: spoofing) and will warn them of suspicious debit card activity.
  • For those who respond to this fraudulent text, the fraudster will call that consumer also spoofing the financial institution’s phone number – and claim they are from the bank’s fraud department and would like to verify a suspicious transaction.
  • The fraudster will then try to get the unsuspecting consumer to verify their identity, and let them know a passcode will be sent via text message – and that the consumer must provide the passcode over the phone.
  • Once the fraudster has that passcode, they’ll attempt a transaction that triggers another two-step authentication passcode (such as forgot password so they can reset the consumer’s password, or they’ll try to initiate a P2P transaction).
  • The fraudster now has access to all of the consumer’s accounts within Online Banking, as well as access to their P2P payment service if one is provided through the bank (such as Zelle) – and will begin using P2P payments to transfer money to themselves.

And unfortunately, there is not much that can be done once this happens – because it appears that the consumer approved the P2P transfer. Since the fraudster spoofed the financial institution phone number, they more than likely won’t be caught either – once it’s recognized that a scam occurred.

How can I make sure I don’t become a P2P scam victim?

  • Only send money to people you actually know. P2P transactions are instantaneous (meaning they happen within seconds) and are often irreversible.
  • Get all of your recipient’s details prior to initiating a P2P payment. Before you press “send” or “pay,” be sure you have the correct user name, phone number, photo, or other identifier. If you incorrectly enter a recipient’s email or phone number, the money could go to the wrong person and you may not get it back. Some P2P services offer the option of receiving a special code to confirm that the person you’re sending money to is your intended recipient. If this feature is available – use it.
  • Confirm you know how to get help if something goes wrong. Before using a P2P service, search the app for procedures and customer service contacts. Know who to reach out to if you have a problem.
  • Keep your app updated. Hackers usually look to exploit vulnerabilities. If your software is not up to date, you’re missing out on protections. Be sure automatic updates are turned on so you know you’re covered.

While P2P services are a useful and convenient way to pay those you know without having to go to the ATM or get change – it’s important to also be aware of the risks and ways to avoid fraud while using them.

Always remember that your legitimate financial institution will never ask you for your login credentials, passcodes, or user name. If you have additional questions or concerns about P2P payment services or have been a victim of a P2P scam in relation to a First Financial account, please give us a call at 732.312.1500 or email us at info@firstffcu.com.

Article Sources:

CUNA Mutual Group 2019 Peer-to-Peer Payments Risk Overview

CUNA Mutual Group Risk Alert – Sophisticated Scams Lead to P2P Fraud (May 12, 2020)

5 Ways to Protect Your Financial Info from Hackers

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Information breaches that would have been difficult to fathom years ago are now common. And people are rightfully worried. After all, if the federal government can get hacked and its employees’ data stolen, how vulnerable is a personal account held at a bank or brokerage?

So what actions can you take to protect yourself in what feels like an endless battle to keep your data secure? Here are five steps to consider:

 1. Diversify your passwords – and change them.

For the user’s convenience they often use the same password across multiple websites, which is a big mistake. It’s like giving an intruder a key that opens every lock. You want to make it extremely difficult for a hacker to access your sensitive information. Create unique password combinations (including letters, numbers and symbols) for each of the financial websites you log into, and establish a bi-annual schedule to change them.

2. Use an online password manager.

All of those hard to crack passwords can be a nightmare to remember and store, so utilize a reputable password manager. The best managers include password generators that create strong and unique choices. Most password managers allow you to sync your passwords across all electronic devices, making it easy to maintain multiple passwords.

3. Make life hard for crooks.

Shredding confidential documents, avoiding simple passwords, and keeping sensitive information off of unsecured channels are all effective actions. Thoroughly checking credit card statements for suspicious activity, and being aware of your surroundings when using ATMs, are security measures that remain effective. Don’t let your guard down. Learn more about preventing fraud at the ATM here.

4. Check your credit reports at least annually.

Periodically checking your credit report is a smart way to stay ahead of the bad guys, but many people don’t because of common misconceptions like the belief that you have to pay a fee to see your report, or that you must subscribe to a service.

The goal is to check for discrepancies, inconsistences and inaccuracies that might suggest identity theft. Annualcreditreport.com is a great (free) place to start.

5. Keep your guard up when it comes to emails.

Be wary of any email that requires you to click on a hyperlink to update a password or confirm confidential material. These emails are often “phishing” attempts seeking to scam you. They appear to come from familiar places such as your bank, an online retailer, or even the IRS. But – they are not legitimate, so be very careful before you open them!

It’s understandable to feel helpless in an age of smart criminals who conduct endless assaults on privacy. But simply putting the threat out of mind is not a solution or thinking it can’t happen to you. Think first because there’s harm in not knowing!

Are You Smart About Smartphone Financial Security?

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All of us are creatures of convenience, and that extends to our finances. It’s not enough to access online banking, budgeting tools, and retailer websites from home — we want them on our mobile devices, too. But, just as browsing the web from home can expose our finances to ever-evolving cyber threats, using mobile apps can too. Though personal devices may seem more secure than a public computer, hackers can still find ways to get into our phones and steal sensitive financial information.

Are you smart about smartphone financial security? If not, following these tips is a good place to start.

1. Use Those Optional Security Measures Like Touch ID

Are you someone who’s been stubborn about setting up a passcode or Touch ID to open your phone? It’s a little less convenient, but the extra step is also the first line of defense for your personal information.

2. Add Extra Security Measures to Financial Apps

Besides your smartphone’s overall security, it’s important to protect access to financial information on your phone housed in banking account apps, account linked financial management apps, and digital wallets. Setting up additional features like passcodes (or Touch ID) for each financial app provides another line of defense if your phone is lost or hacked. As with all personal accounts, choose unique passwords, update them regularly, and keep them in a secure location (a.k.a., not in your phone!).

Some smartphones also allow you to at least partially block Internet access and ad tracking mechanisms on a per-app basis to protect your information from outside threats.

3. Know Your Smartphone’s Vulnerabilities

Whenever there’s a major data breach, tech companies inform the public of who could have been affected where, when, and how. There’s similar information available on which smartphone operating systems, browsers, and other tools have been (or could be) vulnerable to various types of cyber threats and attacks. You don’t have to be super tech-savvy to search for your phone’s systems and look at the risk scale and number of vulnerabilities. You can also check out consumer-focused technology blogs and news sites.

4. If You’re in the Market for a New Smartphone, Consider Security Features

The older your phone is, the less security features it’s likely to have and the more vulnerable it is to hackers. If you’re already due for a new smartphone, make security a priority. Some features will be standard, but smartphone security differs widely based on model and operating system (OS). Check for reviews and explanation of security features, and choose the level of security that best fits the way you use your smartphone.

A simple (and free) thing you can do in between upgrades is to promptly install any system updates. Some of them are just for new features or speed, but others could be correcting security vulnerabilities.

If at any time you feel any of your First Financial accounts may have been compromised due to a smartphone or online vulnerability, contact our Member Relationship Center right away at 732.312.1500, Option 9. If your First Financial credit or debit cards were compromised in a scam, call the 24/7 toll-free number on the back of your card to report the incident and replace your card. All important phone numbers for members can be found on the Contact Us page of our website.

Article Source: Jessica Sommerfield for Moneyning.com

Lost Cell Phone? Here’s How to Keep Your Finances Safe

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We depend on our cell phone for so many day-to-day tasks that go beyond communication. We keep track of our appointments, monitor our healthy lifestyle, and stay updated on breaking news. Additionally, our cell phones have become a hub for managing our finances.

The Federal Reserve reports that Americans use their smart phones or other mobile devices for a variety of monetary activities.

    • 51% of smartphone users had used mobile banking.
    • 24% of smartphone users had made a mobile payment.
    • 38% of mobile phone users had deposited a check using their phone.

Financial apps have made it faster and easier than ever to access your money on the go, and view all your financial information right from the palm of your hand.  But, what dangers could arise if you are one of the 5.2 million people who, in a year’s time, lose their smart phone or have their smart phones stolen? How can you protect your finances in the event that your cell phone ever goes missing?

Before your phone is ever compromised, take these precautions to prevent strangers from accessing your phone or the programs and apps it holds.

Passcode Protection: 62% of smartphone owners don’t have a passcode set to protect their phone. You should always set your phone or mobile device to lock when it’s not in use, and set a secure passcode or password for access to your phone. Some smartphones now let you take security even further and utilize your thumbprint or facial recognition to unlock your phone.

Activate Find My Phone: The Find My Phone feature on your smartphone allows you to quickly trace your phone’s location if it ends up missing. Your operating systems may also offer a lost mode. With this feature, you can send a message to your home screen asking anyone who finds your phone to call to you at a specified number.

If your smartphone is lost, quick action can be the difference between saving your financial information or months of headache if your accounts are accessed by a stranger. Take these actions as soon as you realize your phone is gone.

Contact Your Financial Institution: Let your financial institution, credit card companies, and lenders know your phone or device is missing and someone may have access to your account information. They can flag your account as “compromised,” freeze your accounts, or monitor suspicious activity.

Change Your Passwords: Use your desktop computer or another mobile device to reset the passwords for your online banking or payment tools. Also reset your email password. This way if someone uses the “Forgot My Password” feature on any financial app or website, they cannot access your email and reset your passwords themselves.

A Final Tip: Always log out of financial websites or apps before you close out of them. Keeping yourself logged in or enabling auto sign-in means that your information is easily accessible, even if you’re not the one holding your device.

If you feel that any of your First Financial accounts may have been compromised as a result of a lost or stolen cell phone, please contact our Member Relationship Center at 732-312-1500, Option 9 Monday through Thursday 8:30am-5pm EST, Friday 8:30am-6pm EST, or Saturday 9am-12:30pm EST.

Article Source: Kara Vincent for CUInsight.com