When it comes to dealing with your bank account, it’s sometimes easiest to do it on the go. However, whether you check your bank statement every now and then on your smartphone or you’ve adopted mobile banking as a way of life, you could be comprising your financial security if you are not taking the right steps. Here are some tips to keep you safe when you’re accessing your bank account on your phone.
Download Your Bank’s Official App
Nowadays, most banks offer official smartphone applications that you can use to securely do your banking on mobile devices. Unlike email or text messaging, these apps encrypt your information so you can securely send it across a network.
Yet, before you start using an app to do your mobile banking, make sure the app is actually your bank’s official app. Thieves can set up fake apps that mimic a bank’s application. So before you download an app, check your bank’s website to make sure it’s official.
Recognize and Avoid Phishing Scams
It’s always a bit terrifying when you receive an email or a text message stating that your bank account has been hacked. So, it’s understandable that your first instinct would be to follow the steps provided to stop the threat. However, it’s a common phishing scam technique to pose as a banking corporation in order to get personal information.
In order to avoid compromising your identity, you should never follow a banking link sent to you in a text message or email. The link could send you to a bogus website that asks for your personal information and, if you enter it, you could be handing vital information directly to thieves. Your bank should never ask you to send personal account information over email or text message, so make it a rule to only provide that information when you are sure you are speaking with your bank. When in doubt, don’t give up personal information. Instead, give your bank a call.
Don’t Bank on an Open Network
You have a few minutes to kill while your sitting at a coffee shop sipping on your latte and you think it would be a great time to check your bank account balance, right? Wrong. Cafes that offer free wireless connections may be convenient, but public networks are usually not very secure. Never share personal information over a public network because you don’t know who could be accessing the information. If you must bank in public, turn off the WiFi and use your cellular network instead.
Pick Safety Over Convenience
Be aware that your phone can fall into the wrong hands and plan ahead so that if it does, your personal information doesn’t go with it. Always lock your phone with a safe passcode that would not be easy for a thief to crack. As an extra precaution, never store your username and passcode in your banking app. Signing in and out each time you use a banking app will ensure that a thief can’t get easy access to your personal information if they find your phone. If you lose your phone, be sure to monitor your bank account records for any strange activity and report anything that seems out of the norm. Finally, don’t forget to securely save your personal information in RecordVault.