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5 Tips for Secure Mobile Banking

Why do nearly two-thirds of Americans use mobile banking services to keep their finances in line? Convenience. Mobile banking apps are so convenient that they are in the top three most-used apps for Americans, according to a study conducted by CitiBank.

Sure, convenience is great. But are mobile apps safe? The short answer is yes, but of course, mobile banking doesn’t come entirely risk-free. Read on to learn five tips you can follow to keep your data under lock and key when you use mobile banking apps.

1: Use Your Bank’s App, Not Your Mobile Browser

Trust the app that’s tried and true. Download your bank’s app instead of searching for their online banking site. You’re less likely to stumble upon a fraudulent site ready to snag your info. 

Fake sites may look similar to your bank’s website. Don’t be enticed to enter your login credentials and unknowingly surrender your account information to an untrustworthy source.

When you use your bank’s app, you’ll always know you’re accessing your bank’s authentic site.

2: Avoid Using Mobile Banking Apps on Jailbroken Devices

Jailbroken devices are dubbed ‘jailbroken’ for a reason—they are designed to bypass security measures. A jailbroken device will introduce you to a myriad of downloadable, unsafe apps that haven’t been approved by the app store.

Using mobile banking on a jailbroken device exposes your personal information to unwanted hosts.

3: Create Secure Passwords

One of the most powerful things standing between your account information and unwanted exposure is a strong password. Use a combination of random letters, numbers, and special characters. Vary capitalization and avoid using passwords you’ve used for other accounts to be extra-safe.

If your bank’s app offers multi-step authentication, take advantage of these added security measures. Enable touch ID or face ID, if applicable.

4: Don’t Use Mobile Banking When Using Open WiFi Networks

In today’s world, convenience is synonymous with free WiFi. While it’s nice that your favorite shops and eateries offer free WiFi, these networks are dangerous in terms of mobile banking.

Remember: free comes with a price. Many of these networks are free because they have relinquished many vital security precautions, making it easier for a hacker to gain access to your device.

5: Delete Texts with Secure Bank Information

Verification via text is popular among many online services, and banks are no exception. More likely than not, you may subscribe to receiving notifications in regards to your bank account.

To keep your information secure, be sure to delete these messages after you’ve read them. If a hacker gains access to your device, these information-sensitive notifications make it that much easier for a hacker to steal your info.

Mobile banking apps add a level of ease and convenience for many consumers, which is great! While these apps are plenty secure, there are additional precautions you can take to keep your personal data safe.

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