When you use online banking, you can rest easy knowing that having a safe and secure online banking environment is our number one priority. We provide the information here to educate you on ways that Monson Savings ensures the security of your account data and log in information.
Privacy and Security
The privacy and security of the communications between you (your computer's internet browser) and our servers is ensured using cryptography. Cryptography scrambles data exchanged between your browser and our online banking server. Encryption happens as follows:
- When you go to the sign-on page for online banking, your browser establishes a secure session with our server. This secure session is established using a protocol called Secure Sockets Layer (SSL) Encryption.
- This protocol requires the exchange of what are called public and private keys. Keys are random numbers chosen for that session and are only known between your internet browser and our online banking server.
- After the keys are exchanged, your browser will use the numbers to scramble (encrypt) the data sent between your browser and our server. Both sides require the keys because the data needs to be de-scrambled (unencrypted) when it is received.
The SSL protocol not only ensures privacy, but also ensures that no other browser can "impersonate" your browser, nor alter any of the data that is transmitted. You can tell whether your browser is in secure mode by looking for a lock symbol at the bottom of your browser window.
The numbers used as encryption keys are similar to combination locks. The strength of encryption is based on the number of possible combinations that a lock can have. As the number of possible combinations increases, it becomes less likely that anyone or any other computer would be able to match the combination in order to decrypt the message. Internet browsers offer 40-bit or 128-bit encryption. Both result in a large number of combinations, 2 to the 40th and 2 to the 128th power. Our online banking servers require the use of 128-bit encryption to ensure the highest level of security for your data.
An additional level of security is achieved through the use of proxy-based firewalls which route only authorized traffic, your log in attempt and requests for account data, to our online banking servers. These firewalls isolate your account data from the outside world and protect it from all unauthorized traffic.
One of the most important security aspects of online banking is ensuring only authorized users log into online banking. We do this by requiring each user to create their own customer ID and password. When you submit your information to log in, it is compared to the data we have in our secure online banking server and either grant or deny you access to your account information. After a number of unsuccessful log in attempts, your account access becomes "locked" and can not be accessed again until you call us to reinitialize your account. We monitor bad log in attempts to prevent someone from trying to guess your customer ID and password.
Remember, you play a crucial roll in preventing unauthorized access to your online banking:
- Never use customer IDs or passwords that are easy to guess, such as:
- Names, addresses, and phone numbers
- Birth dates, social security numbers, etc.
- Never reveal your customer ID and password to anyone
- Do not write your customer ID and password down
- Do not let others watch you enter your customer ID and password
- Always use the log off button instead of just closing the browser
- When using a public computer, be aware that viruses and programs exist that read keystrokes and could compromise your online security
We recommend that you change your customer ID and password periodically by using the appropriate function in the User Options of your online banking.
Monson Savings Bank stands behind the security of our Online Banking product and that is why we offer you this pledge:
You will not be held liable for any funds improperly removed from your account as a result of online theft of your customer ID and password. This especially includes any loss due to the security features of Monson Savings Bank's Online Banking being compromised.
You are, of course, responsible for keeping your customer ID and password, and any other personal financial information, confidential. Monson Savings Bank is not responsible for losses incurred due to the misuse of this confidential information.
If you have additional security questions or need to contact us about stolen information or fraudulent activity, please call 413-267-4646.