Many consumers take advantage of mobile banking apps to check their balances, deposit checks, pay bills and, most of all, avoid trips to their local bank branches or ATMs.
Easy mobility and hassle-free banking anytime are some of the biggest reason’s smartphone banking are on the rise. But, security is an important concern here. Is it protected? Are you tension free about the privacy of your money?
Here are some tips for you to protect your mobile banking system-
Keep your phone safe
Avoid leaving your phone in any unknown or public place out of your house. Use secret pockets in your pant or bags to keep your phone away from being stolen. Don’t keep your phone in any loose pockets in the crowds like concerts.
Set strong password protection
Always keep activated— pattern, PIN or password locks. Phone with sensitive information like email accounts and various banking apps need the highest level of security you can provide. Consider every available form of password protection and encryption of your phones data or risk letting savvy criminals wipe your account clean.
Set a strong password with unconnected numbers, letters, and symbols and never share it with anyone. Avoid giving third-party apps access to your passwords and use separate ones for all accounts.
Never follow links
In many websites or apps, you may be offered to visit different types of unknown links. Don’t click on them. It might be a trap from the hacker. Always skip any kinds of unknown links out of your browsing aim.
Never banking with public networks
Free WiFi can be both useful and tempting; but, is it safe? We don’t think so. A common trap is when hackers replicate the name of a free public WiFi provider and change only some small detail. Unsuspecting victims logging on the fake network can unwittingly give away not only their banking details but all their private info as well.
While getting a VPN service can help, the safest thing to do would be to avoid conducting any bank-related business over a public or unsecured network. The risks far outweigh any data savings you may hope to make.
Always use official bank apps
Most modern banks offer official mobile banking websites and applications across various platforms. Set up with a number of security and encryption protocols, using these apps from a secure location can prove far safer than even phone or SMS banking. So, always verify the banking app before you installing, is it original or third party app.
Beware of Frauds
You may get a call from unknown numbers who represent you as a customer service provider. They technically impose you to give them the password in servicing regards. Often you may get messages from unknown numbers which said, you have received money and later claimed for the return. All of them are frauds, always avoid these types of SMS and phone calls. And, also never follow a bank-related link from either your email or your SMS.
Don’t forget to log out
In your absence, anyone may use your phone. Children may do anything entering in your account unintentionally. It may hamper your balance, it can be transferred accidentally. Meanwhile, if accidentally you lost your phone, it will be easier for anyone to enter your bank ID, if you forget to log out your account. So, always log out your Mobile Banking ID after using.