Can I share my transaction reference number?

Your Transaction Reference Number: Share With Care

In today’s digital age, we’re constantly sharing information online. But when it comes to financial data, even seemingly insignificant details like a transaction reference number can be a goldmine for fraudsters.

Think of your transaction reference number as a key to your transaction details. While it doesn’t grant direct access to your accounts, it can be pieced together with other information to build a profile and potentially compromise your security.

Here’s the golden rule: Never share your transaction reference number through unencrypted channels like standard email or SMS. These methods are akin to sending a postcard – anyone can potentially intercept and read the information.

So, how can you safely share this information when needed?

Prioritize secure communication:

• Encrypted messaging apps: Opt for apps that offer end-to-end encryption, meaning only you and the intended recipient can decrypt and read the messages.
• Secure portals: When dealing with financial institutions or online services, utilize their secure online portals or dedicated customer service numbers for communication.
• In-person: If possible, share the information in person at a branch or office.

Remember, being cautious about sharing your financial information is always better than being sorry later. When in doubt, err on the side of caution and reach out to your financial institution or service provider for guidance on secure communication channels.