UPI has made digital payments so easy in every household that the need for cash has significantly reduced. Every family member has a payment app on their phone, and millions of people make transactions without thinking about it every month. This convenience sometimes poses a significant threat, as online fraud has become faster and more cunning than ever before. If you truly want to minimize risk and keep your account safe, follow these 5 essential security steps immediately to ensure your millions of rupees are always protected.
Keep Savings Account Separate from UPI
The first and most important safeguard against fraud is to keep your UPI account separate from your main savings account. Keep only a limited balance in the account linked to UPI. Many banks offer the option to set a transaction limit in the app. Once this setting is set, any mistakes will minimize losses, and your money will remain safe.
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Avoid Haste Before Making a Payment
UPI’s greatest strength is its speed. But this is where people often make mistakes. Always make it a habit to check the recipient’s name before pressing pay. Carefully read the messages displayed on the screen when scanning a QR code. Fraudsters always want to rush, so avoid any messages that pressure immediate action. Check the message carefully and don’t make payments immediately.
Educate Family Members
Elderly parents are the most vulnerable to digital scams. It’s crucial to educate the rest of your family about UPI security. Set a low transaction limit for them and tell them not to accept any payment request without checking. Make it clear to them that a PIN is never required to receive money; it’s only required to make payments.
Disable Unnecessary Banking Features
Disabling unnecessary banking features in apps can also reduce risk. Never share your UPI PIN, even with trusted people. People are often careless when handing over their phones at repair shops, cafes, or other public places. Once the PIN is leaked, it doesn’t take long for your entire bank account to be drained. Be vigilant about security when entering your PIN into any app or website.
Avoid clicking on suspicious links
Clicking on any suspicious link can install malware that can steal your financial data. Therefore, identify the source before clicking on any link. Never trust messages from unknown numbers promising offers, rewards, or government benefits, as this could be the first step to fraud.
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