Safety of Deposit Accounts

A deposit account wouldn’t normally be online so should be pretty safe.
I have an online account, security is pretty tough there are 4 layers of security and a OTP code to confirm the transaction. Also any unusual activity triggers a phone call from the bank

Most accounts are hacked because the owner of the account gives the required information to hackers thinking they are bona fide bank employees.

If there is a wholesale hacking break in to a bank computer system, then nothing is safe if you have money in that bank.

Thanks for that! I should imagine in the case of a widespread hacking attempt on a bank computing system that liability would rest with the bank, not the customer. But what do I know?

I do engage in online banking, but only to service my current account. On the last few occasions when transferring money from this account into my deposit account, I did this over the counter at my local branch rather than doing it online - and did so in each case purely out of habit, it has to be said. It's only lately I've been wondering about possible online security breaches regarding the above, hence this post.

The recent hacking of a service company who undertake payroll activities, shows how little you can do to protect your self. All those working for companies whose pay roll is handled by this firm have been individually contacted to ask them to pay a fine or have their personal bank details published on line.

Never look up your bank accounts online unless you are on your own WiFi .

Absolutely!

Floradora9

Never look up your bank accounts online unless you are on your own WiFi .

It is safe to use a public WiFi as long as you have a VPN to prevent data theft.