Paypal and Online Security

In the current climate it is really important that we all take an active role in online security of our financial affairs. One of the main players and easiest ways to make payments to people online is PayPal. Paypal are constantly reviewing their security so that people are not scammed or conned out of their money.

There are quite a few security measures that you can take to make sure your PayPal account is kept secure. Some of them are pretty obvious like never giving your password out to anyone and not clicking on emails that purport to be from PayPal but are not.

Some things that you can do with regards to security and your PayPal account are as follows:

  • Ensure you have the most up to date version of your browser and the browser you have is secure and recommended by Paypal
  • Keep a check on your PayPal activity so that you notice any untoward activity quickly
  • Report any unusual activity to PayPal promptly
  • Ensure that your computer is protected including having anti virus software installed
  • Log in to your account with an extra secure key (see below)
The PayPal security key is a feature that has been introduced to make Paypal even more secure.  Not only do you use your email address and password to login, but you also use a personal security key. The key can be generated either by a credit card sized security key that you can order from PayPal (it costs £20 or $29.99). Each time you use it it generates a new key that you then enter to access your PayPal data, thus ensuring that no-one else can access it.
Otherwise you can register your mobile phone to get a security key, You will then be sent a code by SMS to allow access. The downside is that you might be charged for each SMS that you receive.
So if you use your PayPal account regularly and for large transactions then it may well be worth registering for the PayPal Security Key to get extra peace of mind.

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