How safe are mobile banking apps and how to safely use them

More people are beginning to discover the ultimate comfortability and privacy that comes with mobile banking. However, as with all other internet activities, some cybercriminals have found a way to hack into people’s mobile bank apps and cart away all their money. They do this by using app-based Trojans that are hidden in other apps which are not related and act as a spy on the victim’s devices. Another threat is the use of fake banking apps. The best place to download your mobile banking app is the bank’s website and no other place. Here are security tips for using mobile banking apps:

Research on a mobile banking app before using it

Some mobile banking apps are safe while others are not safe. You could easily know which mobile banking apps are safe by reading reviews about them on In most cases, the app of any reliable bank will be safe as they will put in all the required effort to make sure it is. However, there are some unreliable banks or banks that are created by people with criminal mindsets that could be meant to scam the users.

Use a verified banking app only and enable two-factor authentication

Every information you need about your mobile banking app should be gotten from your bank’s website and not any other place. Only use a reliable app store and don’t get confused when you see other apps that bear the same name. Also, enable two-factor authentication. It requires you to have a pin and a second means of confirming your identity, which could be your email or a text message to your phone. Even though it increases security, it isn’t safe.

Use a hard-to-crack password and don’t use public wifi

Ensure your password is a mix of numbers, symbols, lower case and upper case letters. Don’t save your passwords on your browser; rather invest in a strong password manager. This makes it more difficult for hackers to break into your mon=bile bank app. Additionally, don’t connect to public wifi as it is not safe enough to keep your information private. Other people can monitor your activities online and get whatever data they need without your knowledge. When it comes to conducting financial business over the internet, use your mobile network.

Learn how to identify phishing and set up alerts

You have to know how to identify phishing emails from safe ones. Phishing emails are sent from potential attackers who are looking at getting your personal information should you click on them. Smishing is when these attackers send you baits in text messages instead of emails. Be so familiar with your banking app that you can easily detect anything that looks different than normal. Also, set up alerts on your phone. This will enable your bank to quickly notify you if they notice anything amiss. You can get these alerts via email, text or the bank’s app.

Be careful on the phones you use your mobile apps on

It is advised that you only log into your mobile bank app on your devices, not another’s. If you do, other people can use the information against you without your knowledge. You can never be sure of anyone’s honesty when it comes to money matters. If you cannot seem to get your transactions done on your device, you should go to the bank to do it yourself or you refresh your internet connection. If the problem persists, complain to your account manager and not any other person. Only your bank can fix it. You should also read about mobile phones stores reviews to know the type of mobile phones that you can buy that will be safe to use. Some phones could come with bugs or software that is deliberately installed to get user data.

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