When you are on top of your finances, you are in a better position to spot potential fraudulent activity. Getting into the habit of using Money Dashboard can actually help you make your finances more secure than they were before.
For example, you may have an external savings account separate from your primary bank. In order to get a good interest rate, you have put a significant amount of money into that account. If you then only use internet banking with your primary bank for monitoring your incoming and outgoing finances, then you may stop tracking the activity on the external savings account. You haven’t touched the money, it should still be there, right?
Having Money Dashboard in your toolkit, you will have all your finances in one place. You can monitor the activity across all of your bank accounts and credit cards, including your savings, and spot any suspicious transactions.
And while you’re at it, why not setup an alert for when any money leaves your savings account? Then you will be notified immediately of any unexpected activity.
You can read more about the security of Money Dashboard on our Security page.
by Chris Woolderink, Developer