Show them you're in charge
Money Magazine Australia|February 2023
Here are seven ways to get your finances off to a flying start
Michelle Baltazar
Show them you're in charge

1) Change your password

Security experts recommend changing your password on your online banking account at least four times a year. Is it a chore? Absolutely. Is it worth it? Yes.

Banking scams reached new heights last year and all it took was a bunch of cybercriminals getting hold of your sensitive data through social media or through online sites you may have visited. This year could be the year you use a password manager or a system that allows you to update your passwords more frequently than you've done in previous years.

2) Check out the AFCA website

The Australian Financial Complaints Authority is the go-to organisation to get compensation from a bank that made a serious financial error or acted inappropriately towards its customers.

It can resolve your complaint before you escalate the matter to court. Since 2018, it has helped more than 300,000 Aussies get $900 million in compensation and refunds. Some of the complaints it has resolved include unauthorised transactions, delays in insurance claim handling and denial of insurance claims.

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