Mobile banking is an easy, convenient way to access your finances on the go. But how secure are mobile banking apps? If you want to keep your money safe, it’s important to do your due diligence when considering using online or mobile banking. Additionally, other than third-party budgeting apps, you’re beholden to whatever your bank offers as far as managing your accounts on a daily basis. So if you want convenient, secure access to your bank account on a regular basis (and let’s be real, who doesn’t?), it’s important to consider what mobile banking options are available before you choose a new bank.
If you’re concerned about mobile banking security risks, consider these two criteria when evaluating a bank:
A Good Bank Will Protect Your Money from Mobile Banking Security Issues
First off, a well-developed mobile banking app is typically safer than logging in through a mobile browser. In mobile browsers your account may be vulnerable to viruses on unsecured networks and, if your password is saved, anyone with access to your phone could have access to your account. So, if you’re a fan of banking on the go, make sure your bank offers an actual app. On top of that, look for these features to keep your account safe:
- An extra layer of security in case anybody takes your phone, like requiring a password, a PIN, or fingerprint verification to access your account
- A guarantee that if there are any unauthorized transactions, your money will be protected
A Great Bank Will Let You Stay in Control of Your Account Wherever You Go
Beyond making sure their platform is secure, a great mobile banking app should actually give you more confidence and control over your money – not less! Stay in the know to avoid external threats, such as catching and reporting any form of fraud quickly, as well as internal mistakes, like overdrafting your account. Consider looking for features like:
- Customizable alerts if a large withdrawal is made or if your account balance is low
- The ability to put a credit or debit card on hold if it’s lost or stolen, and order a new one if necessary
- A quick way to monitor your account balance
Banking should be quick, easy and worry-free. Don’t settle for less if you’re planning to use a mobile banking app!