Whether you have a spouse who wants to share a banking password or a younger sibling who keeps badgering you for your password to Netflix, password sharing can be tricky business. If you don’t share a password securely, you could quickly find yourself in hot water.
Ask yourself whether you want to share a password in the first place and if there could be negative repercussions if you pass out your secret information. Not all services smile upon password sharing, and better options may be available.
Let’s take a deep dive into password sharing and determine the best way to go about it.
Should You Share Your Passwords?
Before you go about securely sharing your passwords, you’ll want to take a moment to decide if sharing your password is the best decision. For starters, you’ll need to know what access you are granting when you share a password.
If you are sharing a bank account password, you may be giving full access to your money and financial details. This could be a bad move, and as an alternative, some banks may allow you to set up more limited accounts for third parties, which could be a better solution.
We recommend contacting your bank to see what options are available for sharing account access and providing limited access to specific individuals. If you are a business, services such as Chase for Business offer the ability to set up multiple users with varying levels of access and control.
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