Mobile banking is rapidly becoming the norm, and experts like Dan Schatt believe this is good. However, with the convenience of mobile banking also comes risks. Here are eight steps you can take to secure your mobile banking and be more secure:
1) Use a strong password and change it regularly.
This basic security step applies to all of your online accounts, not just mobile banking. Be sure to use a unique password for your mobile banking app different from the passwords you use for other accounts. Change your password regularly, at least every few months.
2) Install a mobile security app.
Many mobile security apps are available that can help protect your device and data. Some of these apps even offer antitheft features, such as the ability to remotely lock or wipe your device if it is lost or stolen.
3) Update your devices and apps regularly.
Make sure you keep your devices and apps up to date with the latest security patches. Many updates include security enhancements that can help protect your device and data.
4) Review your account regularly.
Regularly review your account activity, including transactions and balances, to ensure that all activity is legitimate and authorized.
5) Only use trusted Wi-Fi networks.
Whenever possible, only use trusted public networks when accessing your mobile banking account. For example, it’s best to avoid logging in to your mobile banking account when you’re at a coffee shop or other location where the network might not be trustworthy. If you need to access your account from such a location, make sure any secure pages are accessed only through an HTTPS connection.
6) Do not save your login credentials on your device.
Many mobile banking apps offer the ability to save your login credentials within the app, making it easy to log in whenever you want to check balances or make transfers. However, this also means that any other person who can access your device can also log in to your account. Therefore, it’s best not to save your login credentials on your device at all.
7) Beware of phishing scams.
Phishing scams are attempts by scammers to steal your personal information, such as your login credentials, by sending you fake emails or text messages that appear to be from your bank or another trusted source. Be sure to only open emails or text messages from senders you know and trust, and never click on any links or provide any personal information in response to a suspected phishing scam.
8) Use two-factor authentication.
Two-factor authentication is an extra layer of security that can be used with many online accounts, including mobile banking, to verify your identity. Two-factor authentication requires you to provide a password when logging in to your account and a unique code that is sent directly to your device or generated by an app on your device. This helps ensure that nobody other than you can access the account.
These are just a few tips to help keep your mobile banking account and data safe and secure. For more tips, be sure to consult your bank’s security policies or contact their customer support. And remember, if you ever have any questions or concerns, don’t hesitate to reach out to your bank for help.