What is the risk of giving someone access to my online banking?
NEVER share your online banking password with anyone, and Redwood Credit Union will never ask you for it.
If you share your login information, you are authorizing another person to access the money in your account. This could allow fraudsters to steal money from your account, or cause you to become a victim of identity theft. And unfortunately, because you authorized it, you would be liable for the financial impacts.
Fraudsters often ask for login information so they can deposit a check (or checks) into the victim’s account. They might say the money is free, a loan, or part of a business proposition. While the check is being processed, the fraudster convinces the victim to send them part or all of the money. When the check comes back as fraud (which could take several days or even weeks), the victim is responsible for the spent funds, which could cause them to overdraw their account.
If you have given someone access to your online banking account, call 1 (800) 479-7928 to speak with a Member Service Representative so they can help protect your information.