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Safety tips for Mobile Banking

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Mobile Banking

Mobile banking has become the need of the day. We can practice safe mobile banking by practicing certain tips such as password protection, usage of email and web browser, utilizing mobile banking app and so on.

Mobile banking users are affected with security issues. Hence, one must be aware about the safety tips to implement while utilizing mobile banking. As mobile banking is done by using message facility, web browser and mobile banking app, we must be careful during its usage. Let us go into detail with the safety tips concerning mobile banking. If you follow these tips, then you can perform mobile banking easily.

Safe mobile banking habits

Just like we have good habits in our daily life, we must also inculcate habits in mobile banking transactions. Some of the general instructions to be followed are not storing your account details on phone, no storing of passwords, and not sharing your password details with anyone. If you are using your mobile phone in a public or wireless network, then you must not transact important business on your banking app. You must not share your account information to someone via email or SMS facility. And lastly, always protect your phone with a password.

Apps – Official and reliable

Some of the malicious apps are available on the mobile phone for free downloading. These apps appear to be the bank’s official apps but in reality, these are used for encrypting your bank information. You must always download mobile banking app from the official website of your bank and not from the general links or appstore.

Shopping apps also ask for your bank details. Download and use the shopping apps carefully. If you are not sure about the reliability of the online shopping site, then do not pay through mobile banking systems. You can ask for cash on delivery option.

Look before you click

If you see a link appearing on your mobile to log into your bank account directly, do not do so. Such links provide sites that appear like your bank’s website. But these are specially designed to obtain your bank account information. You must always type your bank’s website on the top of your browser and not go by the shortcuts.

Unsolicited calls, messages and emails

You may receive voice calls or text messages about some bank schemes or asking for your account information for activating the account. You may also be offered with free credit card or premium debit cards for this service. It may also happen that your phone data is encrypted during this call. Hence, you must never receive such calls and disconnect it immediately. Bank officials never ask for your confidential information such as debit PIN and password for activating your account.

Social media

You should use social media sites very carefully. The phishing links can decrypt the data stored on your phone. You must also not allow messaging apps to share your phone data for a longer period as it can be used by hackers to get hold of your sensitive information.

Conclusively, if you follow the safety tips in mobile banking, then you can harness its benefits to the maximum limit. So, enjoy mobile banking!

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15 COMMENTS

  1. Mobile banking, banking on-the-go has become very practical these days. It is done by using messaging facility, web browser, and mobile banking apps. Many malicious apps are available on the app store and third party website that can steal your data. Do not download mobile banking apps from app store or other sites rather go to official websites and download the official banking app. Don’t share your password with anybody on phone or email. No banks ask customers to provide password for anything. Do not store login details on your phone.

  2. Banking has been easier than ever since mobile banking came into existence. We dont have to stand in long queues to get our transactions done. However we are also prone to risks of cyber crime at the same time. Criminals find new ways to rob us of our money and we must be more careful whole dealing with this. The post successfully tells us the risks involved!

  3. Your cell phone allows you to connect to various unsecured wifi-networks while at a coffee shop, at a mall and even in market places. A free wifi-network might seem a tempting option. You should NOT log-in to your online bank account if you are connected to a pubic network. Places that offer you free wifi hotspots always warn you to NOT share sensitive information like your account passwords over the network. But people pay now heed to it. I absolutely agree with Ankita that its 99 percent in the hands of the user to be safe or be prone!

  4. Online Banking has been easier, since mobile banking came market. It has made our life easy to go without any hassle, just click and pay / click and transfer. However with this facility we get risks too. Hackers have found variety of ways to hacking mobile data and get all bank details out which can surely make your bank account to zero within few minutes. Thus the article has rightly described how to go safely with mobile banking.

  5. Mobile banking has truly revolutionized the traditional banking system. We can use the basic banking functions like money transfer, payment etc by just using our – Handset. Mobile banking is the future of banking industry. It takes banking to the unprivileged masses. It would take nearly 15 years or more to cover the whole population with physical branches. Whereas great part of the masses have access to mobile. This makes a great sense to concentrate more on mobile banking. And transaction through bank branch is nearly 10 times costly than mobile banking.

  6. A good article which sheds light on the safety measure of mobile banking. With the fast paced life, no one has the time to stand in queue at the banks as it was done previously. Mobile banking has indeed made banking easier where you can access your account at any time you want. However, as the article rightly suggests, one must be perfectly aware about the party he is entering a transaction into, none of the details should be publicly exposed. Data can be easily stolen from your mobile phones if you open any unofficial sites. Make sure that all the sites which you open are genuine.

  7. Banking was never easier until mobile banking came into picture. It is a highly practical approach where you can perform your banking operations on the go. However with easiness and simplicity and versatility, comes a plethora of risks which we need to be aware of. You need to be careful about any phising sites which may intend to encrypt your bank data and you may fall prey to treachery.

  8. Who doesn’t love to transact using mobile phones? Many people, especially the older generation refrain themselves from using mobile banking for the fear they have in sharing their bank details with others. The tips and guidelines mentioned in the article will definitely help the one’s who are using mobile banking and boost up the confidence of those who have stayed away from the facility

  9. Mobile is reducing our work and boosting energy to people but we must aware of scams when it comes to mobile banking by using secured login details, mobile banking app and web browser. Here are some tips in the article where you can follow and we can avoid scams.

  10. I needed this. Some solid advice – I’ve been scammed before.
    Really, don’t click anything! Leave those links alone. And definitely don’t give out information over a voice call on the phone. Sometimes, they seem legitimate, but no bank would cold call you like that.
    It’s amazing how many varied ways people use to steal your money… I feel like never visiting facebook again!

  11. It had never occur to me that mobile banking can have so many risks. I cannot even remember the last time a ordered something and specify to pay on delivery – it is so simple and carefree through mobile banking. Having a reminder from time to time that in this area are so many uncertainties and issues is more than useful. Am i the only one who find it a little bit scary ha fact that our messaging apps share our data for such a long period a time… look hackers everywhere!

  12. I can assure you that there’s nothing more practical that bank apps, seriously! They make your life and management of your money easier, what else can you possibly want? As long as you know how to use them safely you’ll be ok. These tips are more than clear about what you’re NOT should do and how to keep your bank account out of danger.

  13. Articles such as these really open my eyes to the dangers of mobile banking. It is so convenient I could never be without it, but it sometimes feels too convenient and easy that I can use it like a regular App and forget about the dangers and protecting myself! After reading this article I will be sure to ensure that I am protecting myself more carefully. But I will never stop using mobile banking!!

  14. Mobile banking can be a hazard for a person who is unaware of the various kinds of online frauds. It’s always good to be safe and follow some basic precautions, like not disclosing your password to anyone, not writing down passwords and not auto-saving them as well. Also, care must be taken about the banking details that you give online.

  15. Mobile banking is in simple words banking on the move. Even today many remote areas of our country do not have banks but they have mobiles. This makes mobile banking popular among the masses. But a little precaution like logging in and out, transaction only from the official site of the bank, not disclosing the password are some of the points to be kept in mind.

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