Security Tips for Smarter Smartphone Banking

In the age of Tap to Pay and instant transactions, it’s important to keep your information as safe as you possibly can while you’re using banking services on your mobile phone. It can be nerve-wracking, but if you take the right precautions it’ll make it more difficult for anyone to access your account through your device.

We’ve got a list of the most useful tips for beginners and advanced users, so let’s get started.

Make Sure to Use the Official App Provided by Your Bank

This is probably the most important point on this list. Only use the official app provided by your bank, as they’re the least likely to cause you any issues.Avoid signing in from an insecure web browser, and never respond to emails asking you to login to your account.

These apps were designed with the sole purpose of making mobile banking as safe and as easy as possible, so it makes sense to put them to good use.

Use Phone Banking Instead of Internet Banking If You’re Unsure

If you’re worried that somebody may have access to your mobile or online banking, stop using your account instantly and inform your bank of any problems you think you may have.

Calling your bank is always an option if you can’t get there physically, and it’s a reasonably secure way to handle any business that you need to take care of while your account is being looked into.

Avoid Using Open Public Wi-fi Network

Public Wi-Fi can be useful if you’re on a limited data plan, but be careful when using them. Avoid using open wi-fi that does not have a password lock. In such open wi-fi setting, everything is sent in clear and is possible for people to monitor your browsing activity. If you definitely have to use wi-fi network in public such as conferences, see if you can use a network that is protected by a pre-shared key (PSK) using WPA2 encryption. This reduces the risk of your activity being monitored.

Don’t Allow App Installations from Untrusted Source

A dodgy application can harm your device in more ways than you might think. From loud adverts, to selling your personal data, there’s so many ways your device can potentially be compromised.

Only download apps from verified sources such as the Play Store, and check what sort of permissions and information the app can access. You can also check user reviews to ascertain the legitimacy of the app.

Third-party app stores can also be dangerous, no matter how shiny any nice they might look. Malware can be lumped in with a legitimate Android APK, so it’s sometimes better to pay a premium to make sure you know what you’re downloading to your device.

Get a Notification Every Time There Is a Transaction

Many banking applications have the ability to notify you if there’s any action on your account. Since many companies prefer to give paperless account reports, it’s an easy way to spot any fraudulent activities as quickly as possible, which could save you a lot of hassle in the long run.

Contact your bank if you spot any suspicious transactions on your mobile banking account.

Update Your Phone’s OS and Apps Whenever Possible

If you keep your phone and banking app updated at all times, it should make it harder for hackers searching for vulnerabilities in older software. The most recent updates should help to keep your device as safe as possible, and it’ll also make the apps and your device more functional with every update.