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Online Banking Safety Measures

When you bank online, you trust that Square 1 Bank is aggressively protecting your funds and confidential information through the use of industry-standard technology and techniques. We strive to provide the most secure environment possible for our online banking service by utilizing the following methods:

Firewalls Square 1 Bank uses firewalls to create a security barrier between the Internet and the Bank’s internal systems. This barrier helps to protect information stored on Square 1’s internal systems. Appropriate system information is monitored and recorded, which helps us to quickly identify suspicious activity.

Encryption Our online banking system uses current industry standard encryption methods to protect your information (especially information in transit) from being read by unauthorized parties.
 
Monitoring Online banking activity is regularly monitored, including all system login activity. Too many incorrect login attempts will “lock out” a user until appropriate verification can be made to reactivate the online banking account.

Multifactor Authentication To guard against unauthorized access to the system, Square 1 Bank’s online banking system requires several layers of identification that only those authorized can provide.  Square 1 strives to provide this protection in a manner that maintains both ease of use and security.

We recommend that you consider the following safeguards when using online banking:

  • Safeguard and do not share your login ID and/or password information with anyone else.
  • Never write down your login credentials to any system where others may easily find this information.
  • Do not access the Square 1 or other financial services websites from Internet cafes or other public Internet access locations, where Internet security parameters are unknown.
  • Monitor your account activity on a regular basis, daily if possible.
  • Never leave your computer unattended when conducting online banking transactions.
  • Close your Internet browser once you have concluded your visit to the Square 1 Bank online banking website.
  • Designate a computer to be used by properly-authorized individuals when accessing Square 1 online banking and other financial services websites. Prohibit all other Internet traffic and email access on the designated computer to reduce the vulnerability of attacks.
  • Utilize multi-user (dual) control approval settings and establish user limits to initiate, approve and send ACH, wire transfers and other financial transactions.
  • Keep your employee(s) online banking system access rights current, i.e., remove access of terminated employees immediately.
  • When selecting passwords and challenge questions and answers, don’t use the most obvious information that could be easily linked to you, such as your date of birth, your pet’s name or your social security number.
  • Have your employees use complex passwords of 8 to 12 characters, which include a combination of alpha and numeric characters, and at least one special character.
  • The more frequently you change your password, the less likely it could be compromised.
  • If your security software identifies malware on your computer, remove the malware immediately, and change your online banking password.
  • Create a list of fraud-related risks that may be unique to your organization and create mitigation strategies for each to reduce the overall risk exposure.