2FA is well worth the extra few seconds during login
Smart devices and the internet have made handling personal finances more convenient than ever before. You can do almost anything from your couch as long as you have a phone or laptop nearby. One major drawback of this change is that bank accounts are more vulnerable to cybercrime. The answer to this problem is two-factor authentication (also known as 2FA). Where the best smart home security systems are great for household safety, 2FA is what you need when it comes to safety online.
Many people are familiar with 2FA, but most don't know how important it is. This cyber shield is well worth the few minutes necessary to put it in place.
What is two-factor authentication (2FA)?
2FA is a security tool that adds another layer of verification on top of having a username and password. Think of it like an extra sturdy login. Even though 2FA is more secure than a normal login, it doesn't add much time once you have it set up.
There are three main types of 2FA verification. They can be described as something you are, something you have, or something you know. A 2FA login might use a fingerprint or retinal scan to identify who you are. An example of the ‘something you have' 2FA would be receiving a code on your phone. You might be asked some quick security questions that you've previously confirmed to satisfy the ‘something you know' 2FA. All the 2FA types make your login more secure.
Why you should use 2FA
There's a simple reason why you should use 2FA on all your financial accounts. To protect your finances! Many modern cybercrimes revolve around gaining access to accounts using username and password information. If an intruder gains access to your bank account, it can be worse than if someone steals your credit or debit card. There are more mechanisms already in place for stolen cards.
For these reasons, most banks have started to offer or require 2FA for any online banking. Though, some banks don't have 2FA. It's a good idea to check if your bank offers 2FA for logging in to your bank account. And if it does, use it.
How to enable 2FA with Fidelity
The Fidelity 2FA process is simple and enables the security feature for both in-browser and Fidelity app logins. Follow these steps to enable 2FA for Fidelity online banking.
- Open the Fidelity website in a browser and log in.
- Click Profile.
- Scroll down and click Security center.
- Click Enable next to the 2-Factor Authentication section.
- Select how you want to receive the security code (text or call).
- Click Send security code.
- Enter your code into the field after you've received it.
- Click Submit security code.
Now when you log in to Fidelity, it prompts a 2FA security code just like it did here. This example uses a version of 2FA that texts a code to the user's phone. In other circumstances, the options and methods for enabling 2FA may look different. It's uncommon, but sometimes there are separate steps for the web login and the mobile login. You can always call your bank to learn more about the options that are available to you.
Banks that don't have 2FA
Some banks haven't gotten with the trend of supporting 2FA for online banking. Most banks that fall into this category will likely join the movement within the next few years, especially if customers express interest. Commonly used banks that don't have 2FA include Citizens bank, FirstBank, IberiaBank, KeyBank, Service Credit Union, and Union Bank. For a complete list, head to the 2FA Directory website.
Keep your financial accounts secure
A few minutes of setup and the additional step during login are worth the extra security that 2FA creates. Bank accounts, in particular, are in danger of being targeted by cybercrime. This security feature is a powerful shield against intruders and shouldn't be overlooked.
You don't need to stop with bank accounts for using 2FA. Many website logins now offer 2FA. Even Google offers 2FA for signing into your Google account! Don't hesitate to improve your online security.
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