At Azimo, we’re constantly looking for ways to make the world of money transfer simpler for our customers. That’s why we’ve created our Ask Azimo series: to show you how sending money works and answer some of your most frequently asked questions about international transfers. This week: staying safe online.
We know that when you use Azimo to send money around the world, you need to be able to trust us fully. So, as well as helping you transfer money for less with our low fees and market-beating rates, we also do everything we can to make sure our service is 100% secure. That’s why millions of pounds get sent safely with us worldwide every year. And why, once people have used Azimo to transfer money once, they tend to use us again and again.
Sadly, though, not everyone’s as scrupulous as Azimo, so here are some of our top tips for staying safe online, whether you’re sending money or spoiling yourself with a new pair of shoes.
Is the website I’m using secure?
Before entering payment details on a website, you can make sure that the link is secure in three ways:
- There should be a padlock symbol in the browser window frame, which appears when you attempt to log in or register. Be sure that the padlock is not on the page itself – this can indicate a fraudulent site.
- The web address should begin with ‘https://’. The ‘s’ stands for ‘secure’.
- If you’re using the latest version of your browser, the address bar or the name of the site owner will turn green.
Other points to remember:
- Ensure you have effective and updated antivirus/antispyware software and firewall running before you go online.
- When you’ve finished, always log out of sites into which you have logged in or registered details. Simply closing your browser is not enough to ensure privacy. This is especially important if you’re using a public computer.
- Check credit card and bank statements carefully after making a payment online to ensure that the correct amount has been debited and that there are no transactions you don’t recognise.
- Use different passwords for your important accounts. If every account has the same password then everything is at risk if there’s a problem.
- Never share your password or write it down. If you suspect your password has been compromised, change it straight away.
Our website is protected by 24/7 monitoring. We prioritise your financial security by using the latest bank-level procedures to continually scan our system for any unusual or suspicious transactions.
Are my card details secure?
There’s always the potential for card fraud when you use your payment card, and online transactions are no exception. If criminals are able to get hold of your details, they could use them to make transactions. But you can greatly reduce the risk by knowing what to look out for and staying on your guard.
When you make a card transaction, you should never be asked for your PIN or online banking password. Your PIN should only be used at cash machines and physical, point-of-sale terminals, such as a supermarket check-out.
However, when you’re making a payment online, you will be asked for the three or four-digit security number (CVV) found on the back of your card.
Unless express permission has been given by the cardholder, websites aren’t allowed to store your card details once your transaction has been completed. Of course, though, opting to store your card details securely can make life much easier if you’re a regular customer.
Our website and mobile apps use MasterCard SecureCode and Verified by Visa systems to ensure only valid orders are processed. We don’t store your card details, but we do offer customers the option to retain their card details securely on their device when using the Azimo app.
Who regulates money transfer firms?
UK-based money transfer firms are regulated by the Financial Conduct Authority (FCA). If a money transfer firm isn’t regulated by the FCA – or another equivalent EU regulator – the simple answer is don’t use them.
Azimo is authorised by the FCA under the Electronic Money Regulations 2011 (FRN 900220) for the issuing of electronic money. We’re also registered by Her Majesty’s Revenue and Customs (HMRC). And in Germany we’ve been certified by TÜV for data protection – this highly respected, independent inspection organisation only gives approval to products and services that meet the highest standards.
Can I get my money back if a firm goes bust?
A large financial services firm trading more than €3 million (or sterling equivalent) a month needs to be authorised by the FCA. Each day, at the close of business, these firms separate your money from their own accounts (known as ring-fencing). This protects your cash, so you should get it back if the firm gets into difficulty.
Keeping your money safe is our number one priority. As part of our FCA regulation, we’re required to hold all our customers’ funds in fully segregated client accounts with trusted global institutions. Azimo’s own operating accounts are stored completely separately. In other words, your funds can never be used to settle our business affairs.
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Azimo is the better way to transfer money around the world, touching millions of people’s lives. Fast, simple and safe, Azimo has the largest digital network in the world, enabling customers to send money to more than 190 countries from any internet-connected device.