How To Protect Your Security When Using Mobile Banking

A new report urges precaution for those who bank on their smartphones.

It’s now possible to complete almost all banking transactions on a smartphone, except pulling out physical cash—though that’s probably coming soon, too. Mobile bankers can pay bills, move money, even scan checks and deposit them at most banking institutions.

But a report in the Economic Times says mobile bankers should take some extra precautions to keep thieves out of their accounts.

It advises mobile bankers to:

  • Never do mobile banking on a public Wi-Fi network.
  • Never do mobile banking if the signal is weak, as it causes typed numbers to glitch.
  • Make sure to have a “find my phone” feature set up to remotely lock the phone in the case it is lost.

Mobile bankers should also never use an automatic login in order to prevent thieves from easily accessing bank accounts from stolen phones.

The Economic Times recommends mobile bankers set their phones so it requires a password entered every time you want to log into your account and that they keep the banking app up to date to ensure it has any security fixes. A couple extra steps, but well worth it.

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