NEW YORK (CBSNewYork) – Many people enjoy the convenience of banking online and quickly accessing their emails or social media accounts.

But there are security risks when you log on.

That’s why a growing number of companies are offering – or in some cases, requiring – an extra step called two-factor authentication, or 2FA.

It protects your online accounts by requiring two forms of verification before granting access.

For example, in addition to putting in a username and password, you’re required to enter a one-time code that’s texted to a phone number associated with that profile. This way, even if a hacker is able to steal your password, they can’t get into your account.

The list of companies that require two-factor authentication is growing. But a recent study found only 28 percent of people are using it when it’s an option.

Still, it’s a good idea and it’s getting easier.

Many internet services support a specialized app called an authenticator, like the one Google offers. The app, which you pre-set to work with a service, has a constantly rotating set of codes you can use whenever you need.

Security measures can sometimes feel cumbersome, but in the case of two-factor authentication, taking that extra security step could save you a lot of time, and even money, down the line.

Find more from “Eye on Cyber” by clicking here.