Internet banking and the best way to set a password

PASSWORD

How to create and manage? Here is a suggestion you may like

Normally, you require a userid and a password to access your account. Many banks permit you to use your customer id as the userid and use it along with a password. The first time when you use the password sent by your bank, you are prompted to change it at once and give a new password of your choice. In this connection you may note the following for your guidance:

(a) There may be some guidelines for framing your password. It is usual to insist upon a standard length e.g., minimum of eight and maximum of twelve characters. You may also be prompted to include in it (i) alphabet; (ii) numerals; and sometimes  (iii) a special character e.g., *;

(b) You must keep your password a close secret. Therefore noting it down in diaries etc is considered to be risky. The best thing for you is to create a password in accordance with a system that it is not simple for outsiders to guess but yet easy for you to recall whenever you need it. May be you would find the following interesting:

Remember a song or poem you like e.g., meri deshki dharti sona ugle (song from the film Uphaar) and a special year e.g., 2007 when you passed out from your university. Now take the first letters of the words in the song and individual numeral of the year and intersperse them. It will turn to be M1D0D0S7U. You can make it tougher by adding a special character e.g., * at an appropriate place. The result a 10 characters robust password that has four alphabets, four numerals and one special character all as its components.

This is only an example. You may use your own choice of song and your special year to create your own password that would defy others’ imagination but would be easy for you to remember;

(c) Some banks may give you a separate password for transferring money from your account. This is called transaction password. You may like to transfer money to other accounts in your name or to a third party. Like the first level password, at first the bank sends you a default transaction password. You need to create your own transaction password the first time you use that default password.