Being able to conduct your financial transactions via your mobile phone definitely has its advantages, including the fact that most security experts feel it isn’t as risky as banking from a personal computer. This is in part thanks to the fact mobile phone app developers have learned from their PC predecessors and made their offerings more secure.
However there are still risks, and if users aren’t careful, they risk compromising their personal information and hard-earned savings to scammers. Users should remember offense is the best defense. Tips the experts say all users need to keep in mind:
- Be selective of where you conduct your mobile banking. Logging onto a banking website over an unsecure Wi-Fi in a public area, like a coffee shop, hotel or airport, is a risk since the network is vulnerable to anyone monitoring that hot spot to intercept the data being transferred. Always use a secure network or one you trust.
- Use your financial institution’s mobile banking app if one is available. Half of mobile banking users still use their mobile browsers to access their financial institution. However the mobile browser is less secure than a well written mobile app.
- Avoid automatic logins and always require a password. This is a precautionary measure in case your phone ever gets lost or stolen. Don’t make it easy for thieves to access information stored on your device. And always log out when you are done with a session.
AVADIAN TIDBIT: When designing our mobile banking app, we took every measure possible to ensure its security. Visit your app store today to download it for free. Mobile Banking FAQ's