Are Online Payday Loans Safe?
Online Payday Loans vs. Physical Payday Loans
Generally speaking, online financial transactions are safe. However, you must make sure that a lender with whom you’re doing business engages in best practices for protecting the safety of its customers. Always check the webpage’s browser bar for a lock symbol or the letters “https” rather than just “http.” The “s” means secure. It signifies that your data is secured during transit. It make it much more difficult for someone with malicious intent to get hold of it.
For added peace of mind, a lender may display a certificate from a security company. (like Norton or McAfee.) The transaction you have with a lender can still be secure even if they don’t have one of these security certificates on their site. However, to be extra safe you probably want to work with a lender who displays their certificate. Listing the same site name and which states that the site’s SSL Certificate is valid. Want more tips on staying safe? We got em!
Internet Safety Tips from the Federal Trade Commission
At-home internet safety:
With these tips you can feel secure. Either when shopping for online payday loans or conducting transactions over the internet.
Encryption is the name of the game when it comes to internet safety. Encryption works by scrambling information when it’s transmitted so that it is not visible or accessible to others. Two kinds of encryption are available on routers, WEP (Wired Equivalent Policy) and WPA (Wi-Fi Protected Access). The most recent version of WPA, called WPA2 is recommended by the FTC as the strongest choice. By default, many routers have their encryption set to off by default. In order to turn it on, check your internet service provider’s website or give them a call.
A secure router is important but so is a secure computer. Antivirus, anti-malware, firewalls and other protections should be maintained and kept up to date.
If you received a pre-set password when you got your router, the FTC recommends that you change it. Persons with the intent of stealing information often know these default passwords (or how to crack them) and so its advisable to change it to something that would be hard for others to guess.
In order to prevent others from getting into your home system through other “doors” shared company networks and remote management software tools (like TeamViewer or LogMeIn) should be turned off or disabled when not actively in use.
When Using a Hot-Spot
The Federal Trade Commission recommends that when using wi-fi in a hot-spot, log in or send personal information only to websites that are fully encrypted.
The FTC also advises against using the same password on different sites, as well as keeping internet browsers and security software up to date. They also recommend that persons who frequently use wi-fi hotspots consider getting a VPN (virtual private network). Even when using unsecured networks, VPNs provide a layer of security by encrypting traffic between a computer on its network and the internet. VPNs are also available for mobile devices.
To add another layer of protection, you can turn to plug-ins like Firefox’s Force-TLS can be installed on the Firefox browser and force it to use encryption on popular sites that aren’t encrypted.
Although there is no 100% guarantee that the aforementioned tips will work 100% of the time, the added security of your vital information should enable you to feel secure as you go about your day-to-day business.
The Safety of Your Data With Online Payday Lenders
Check a lending website for a privacy statement, sometimes called a disclosure statement. Many lenders have these statements on their webpage (frequently in the footer). If junk mail is a major annoyance, be sure to read over these statements to find out how your data will be used and if it will be sold to third parties. Once you know, you can proceed with an understanding of what to expect.
If you have any doubts about a company’s trustworthiness, search online for information about the lender. Chances are, if others have been scammed by a predatory lender, you’ll find negative reviews about the lender online. You can even file complaints with the Better Business Bureau. By taking the time to check things out, you can be safe and avoid scams, spam, and unnecessary phone calls.