Protect Your Bank Accounts

4 min read

Updated September 2026

Woman entering secure password on smartphone, secure icon above.

You don't have to build Fort Knox to make sure your accounts and money are protected; all it takes is a little know-how. While many banks, including WaFd Bank, invests in the latest technology and monitoring systems to prevent unauthorized access, there are still steps you can take to protect your bank accounts and your online banking.

Start with protecting your phone. We know what you might be thinking. Who doesn't have a code or a password for everything?! Not everyone, and it's an easy way for thieves to hack into your accounts, especially if you're like us and have your computer or phone remember all your passwords for you. Check out our article, 5 Ways to Keep Your Smartphone Secure. Many of those tips apply to your computer too.

This might sound like old news, but it still holds true. Easy passwords to remember are also easy to guess, and if you think they'll stop at your bank accounts, think again. If you also like to re-use passwords (we've done it too!) the bad guys will have access to any other account you've "protected" with the same password which could make you an easy target for identity theft (WaFd Bank offers identity theft protection, ask around and compare to see what's right for you). Similarly, make sure all the devices you use to log in to your accounts require a password or code to unlock.

Sure, the coffee shop free Wi-Fi is great, but definitely not great for logging in to your bank accounts. Public Wi-Fi is not secure, so make sure you're not doing anything important while you're using it. When you connect to their internet, the information that is sent through the sites or apps you're using can be visible to others and it is possible hackers will put that information to good use for themselves. Read more about public Wi-Fi safety on the Federal Trade Commission's website. The same rules apply to shared computers, such as at the library. Don't use it to access private information, and double check to make sure you've logged out of any sites you've visited. For overall online safety, read our article on how to protect yourself online.

Always make sure that you have your current phone number, address, and email address connected to your accounts. If a fraudster were to get into your online banking, they could update your email address or phone number with their own. If they try to change your email address, you'll get a notification to your current email address, so you'll at least be able to minimize damage and contact your bank right away. All banks do have safeguards to prevent these kinds of things from happening, but at the very least making sure they have your correct information helps them to get ahold of you and verify if any activity is authorized or not. If you're curious, read up on your bank's privacy policy on their website, or check out how WaFd Bank protects your private information.

A strong password is important, but they can still be figured out with AI and today's technology. If your password is guessed, fraudsters still can't get into your account with two-factor authentication so make sure you enable it wherever you can. With this method, you'll enter your password and then receive a one-time use passcode to finish logging in. While this takes an extra minute, it can make all the difference in protecting your accounts and your money.

The most important thing to do to keep your accounts secure is to question everything. If you get an email, text, or phone call from your bank asking you to confirm your username and password, don't do anything! Stop and think. If you're being pressured to act now, that is a huge red flag. If the matter is urgent, it can and will wait for you to make it to the bank or to get ahold of someone by calling the phone number listed on your bank's website. It's always better to be safe than sorry! Read our Security Frequently Asked Questions to learn how to spot phishing emails and more.

WaFd Bank is Here to Help

WaFd Bank is here for you! With secure checking accounts, as well as secure savings accounts, we're fanatical about security. We also offer services such as Voice-Activated Banking, which remembers your voice print to make sure no one can call in pretending to be you. Read more on how WaFd protects your privacy, and if you want to open an account or just have some questions, let us know! Give us a call at 800-324-9375, or visit your local branch.

Content is provided for general informational purposes only and does not constitute legal, tax, financial, or business advice. Consult a qualified legal professional or specialist regarding your specific needs and circumstances.