News & Insights

Simple Tips to Protect Your Money with Midwest Bank

Fraud and identity theft can happen quickly, but taking a few simple precautions can help protect your bank account from fraud. At Midwest Bank, keeping your money secure is our top priority — and we’re here to help you stay one step ahead of scammers.

Here’s what you need to know to help keep your bank accounts safe.

1. Use Strong, Unique Passwords

Your password is one of your first lines of defense against account fraud. Make sure you:

• Use a unique password for your online banking account that you don’t use anywhere else
• Include a combination of letters, numbers, and special characters
• Avoid easily guessed information like your name, birthday, address, or pet’s name
• Change your password regularly
• Never share your online banking username or password with anyone

Consider using a reputable password manager to help you create and store strong passwords securely.

2. Turn On Multi-Factor Authentication

Multi-factor authentication adds an extra layer of protection to your account by requiring more than just a password to log in. This may include a one-time code, security prompt, or other verification step.

When available, multi-factor authentication can help prevent unauthorized access, even if someone gets your password. It is one of the simplest and most effective ways to help protect your bank account from fraud.

3. Set Up Account Alerts

Most banks, including Midwest Bank, offer account alerts to notify you of certain account activity. These alerts can help you spot suspicious transactions quickly.

You can set up alerts for things like:

• Large transactions
• Low balances
• Debit card activity
• Online banking login attempts
• Account transfers or withdrawals

Setting up alerts through online or mobile banking gives you quicker access to information about your accounts and can help you respond faster if something does not look right.

4. Watch Out for Phishing Scams

Phishing scams are fake emails, texts, or calls that try to trick you into giving away personal or financial information. These messages may look like they are from your bank, a government agency, a delivery company, or another trusted source.

Common red flags include:

• Messages that create a sense of urgency
• Unfamiliar links or attachments
• Requests for your account number, password, debit card number, or Social Security number
• Messages claiming your account will be closed or locked unless you act immediately
• Poor grammar, misspellings, or unusual sender information

Remember: Midwest Bank will never ask for sensitive information, such as your password or full account number, through email or text. If you are unsure whether a message is legitimate, contact us directly before clicking a link or sharing information.

5. Know the Common Signs of Bank Fraud

Being able to recognize suspicious activity can help you take action sooner.

Watch for signs such as:

• Transactions you do not recognize
• Small “test” charges on your debit card or account
• Password reset emails you did not request
• Texts or calls asking you to verify account information
• Notifications for login attempts you did not make
• Unexpected changes to your account information
• Pressure to send money quickly or keep a transaction secret

Scammers often try to create panic so you act before thinking. If something feels suspicious, slow down and contact Midwest Bank directly.

6. Protect Your Devices

Your phone, tablet, and computer may store valuable personal and financial information. Keeping your devices secure can help protect your online banking access.

You can help protect your devices by:

• Using antivirus or security software
• Keeping your apps and operating systems updated
• Enabling fingerprint, face recognition, or a secure passcode when available
• Only downloading apps from trusted sources
• Logging out of online banking when you are finished
• Avoiding saved passwords on shared or public devices

These small steps can make it harder for scammers or hackers to access your information.

7. Monitor Your Accounts Regularly

The sooner you spot suspicious activity, the sooner you can report it. Log in to your accounts often to review your transactions, balances, transfers, and debit card activity.

With Midwest Bank’s mobile banking app, you can check your accounts anytime, anywhere. Regular monitoring can help you catch unauthorized activity early and protect your money.

8. Be Careful with Public Wi-Fi

Public Wi-Fi networks can be convenient, but they are often not secure. Avoid accessing your bank accounts or entering personal information when connected to public Wi-Fi at places like restaurants, airports, hotels, or stores.

When banking online, use a secure private network or your phone’s mobile data instead. This can help reduce the risk of someone intercepting your personal information.

9. Know What to Do If You Suspect Fraud

If you notice suspicious activity or believe your personal information has been compromised, contact Midwest Bank right away. Acting quickly can help limit potential damage and protect your account.

You should also:

• Change your online banking password
• Review recent account activity
• Avoid clicking links in suspicious emails or texts
• Keep records of suspicious messages or transactions
• Contact us if your debit card, checks, or account information may have been exposed

If identity theft is involved, you may also need to take additional steps, such as placing a fraud alert or credit freeze with the credit bureaus.

We Take Your Security Seriously

At Midwest Bank, we use industry-leading security measures, including:

• Encrypted online banking platforms
• Multi-factor authentication
• Fraud detection and monitoring
• Secure online and mobile banking tools

But account security is a team effort. By using strong passwords, setting up alerts, watching for scams, and monitoring your accounts regularly, you can help keep your bank account safe from fraud.

Need Help or Have Concerns?

If you suspect fraud or notice unusual activity on your accounts, contact Midwest Bank immediately. We’re here to help protect your money and your peace of mind.