Online transactions have become a norm and most people have gotten more comfortable using all the solutions brought up by financial technology. With the recent outbreak of COVID 19 and the clamor for lesser physical interactions, there’s been an increase in online transactions- raging from item purchase to hiring freelancers and even internet banking. It is pertinent to become extra careful while handling these transactions to avoid getting scammed or losing important financial details. Below are some of the mistakes that should be avoided while transacting online:

Using public Wi-fi and computers

One of the easiest ways to fall victim to hackers and scammers is by using public Wi-Fi and computers for your transactions. It is important to use a dedicated computer that isn’t used for casual internet surfing or social networking. If there are no other options than using these public computers, you must always clear your browsing history, cache and cookies so that your online transaction details aren’t stored for hackers to have access to.

Not to worry too much if you’ve used public computers or Wi-Fi for your transactions in the past, no one can get access to your details if you use Vesicash Escrow Service. This is because you will be notified of any login attempt that would require you to enter a unique One Time Password (OTP)- you are always protected when transacting with Vesicash.

Clicking on unverified links from Emails

You might get fascinated by the headline of an email you just received talking about great discounts or mouthwatering offers and the next thing you do on impulse is to click such mails. That is a big mistake because the link might be a virus or automatically used to fetch out personal details. 
Clicking on these links won’t put you into trouble entirely if you use Vesicash Escrow service, this is because we will not only verify the identity of the other party but also ensure that you get your orders delivered before payment is released from escrow.

Not updating your mobile number for bank accounts

Another way that has been used by hackers and online scammers is by doing a sim swap on unsuspecting bank accounts. To avoid this, make sure that your contact number is updated for all bank accounts and also pay attention to any notification you get during the transaction process. If you prefer receiving notifications via email, then ensure that your active email is linked to all your accounts so that you get prompts in case of suspicious activity on your account.
We also understand the importance of your phone number and email at Vesicash- this is why we send login notifications to your registered phone number and email address and you also get regular notifications on over the course of the transaction process with us.

Not confirming the amount before entering card details 

In our eagerness to conclude a seemingly good deal online, we may rush to enter our card details without going over the whole transaction again. Imagine confirming the payment of #230,000 for a #23,000 transactions – I’m sure you will agree that a single overlooked zero can make a huge difference.
When using Vesicash Escrow service, not only do you get email and SMS notifications of the amount before confirming payment, your transaction overview is clearly displayed before you initiate payment.

Conclusion

To avoid falling victim to online fraud and having your financial details hacked, it is important to avoid putting your details on public computers, clicking on links from unsolicited emails, not syncing your email address and phone numbers to your account and using easy passwords. It is also necessary to buy from a trusted merchant and confirm the transaction overview before paying. The good news is that most of these problems can be avoided by using a reliable Escrow service like Vesicash Escrow for your transactions– by providing a transparent and accountable process for transactions that keeps the interest of the transacting parties protected.

Join the moving train of Vesicash users that now pay with total confidence.