NEW YORK CITY, NY / ACCESS Newswire / March 10, 2025 / Mobile banking has become an essential tool for managing your finances. With just a few taps on your smartphone, you can access your checking account, transfer money, pay bills and even deposit checks.
While mobile banking offers convenience, it can also pose risks to your financial security. Cybercriminals are increasingly targeting mobile banking apps, making securing your account and protecting your personal information essential.
Here are some key dos and don'ts for keeping your mobile banking experience protected against potential fraud.
Do: Use strong passwords
Your password is the first defense against unauthorized access to your account. It's important to choose a strong and unique password. Avoid using easily guessable information such as your birthdate or common words.
A strong password should:
Be at least 8-12 characters long
Include a combination of letters (both upper and lowercase), numbers and symbols
Not contain easily available information such as your name, birthdate or username
Bonus Tip: Consider using a password manager to store and generate complex passwords, so you don't have to remember them all.
Don't: Share your login credentials
It may seem like common sense, but it's worth repeating: never share your mobile banking username or password with anyone. Whether through email, over the phone or in person, don't give out login information to anyone claiming to be a bank representative or customer service agent. Legitimate banks will never ask for your login credentials directly.
Bonus Tip: Be cautious of phishing attempts that trick you into revealing your information. These can come as fake emails or calls designed to mimic your bank.
Do: Enable two-factor authentication (2FA)
Two-factor authentication adds an extra layer of security to your mobile banking account. With 2FA, even if someone manages to obtain your password, they'll still need a second verification code to access your account. This code is typically sent to your phone via text message or email, or generated by an authentication app.
Activating 2FA can significantly reduce the risk of unauthorized access to your mobile banking account. It's a simple but powerful tool for securing your finances.
Don't: Use public wi-fi for banking transactions
While checking your bank balance or transfer money when you're out and about may be tempting, using public Wi-Fi networks (such as those in coffee shops or airports) is risky. These networks are often unsecured, making it easier for hackers to intercept your data and access your accounts.
Whenever possible, avoid performing sensitive transactions on public Wi-Fi. Instead, use your mobile data or wait until you can access a secure, private network.
Bonus Tip: If you must use public Wi-Fi, consider using a Virtual Private Network (VPN) to encrypt your connection and add another layer of protection.
Do: Keep your mobile banking app updated
Banks frequently update their mobile apps to address security vulnerabilities and improve performance. Keeping your app up to date will protect you from known security risks.
Enable automatic updates for your mobile banking app, so you don't miss important security patches. This simple step helps keep your banking experience secure and minimizes the chances of your app being compromised.
Don't: Ignore bank notifications or alerts
Most mobile banking apps offer real-time notifications and alerts that can help you monitor account activity. These can include updates about recent transactions, low balances or attempts to log in from unfamiliar devices.
Make sure you enable push notifications or text alerts for important events. This way, you'll be alerted immediately if there is any suspicious activity on your account. If you receive an alert for something you didn't initiate, act quickly to investigate the situation.
Do: Log out after each session
It may seem like a small step, but logging out of your mobile banking app after each session helps protect your account from unauthorized access. Even if you trust the device you're using, it's better to be safe than sorry. If you forget to log out, someone else who gains access to your phone could potentially access your account.
Many apps offer an auto-log-out feature that will automatically sign you out after a period of inactivity. Take advantage of this feature to further enhance your account's security.
Don't: Use the same password across multiple accounts
While it may be tempting to use the same password for your mobile banking app as you do for other accounts, this practice puts your financial security at risk. If one of your other accounts is compromised, a hacker could easily gain access to your bank account if the password is the same.
Use unique passwords for each of your accounts. Also, consider using a password manager to make managing them easier. This extra step can prevent hackers from accessing your accounts, even if they manage to crack one password.
Do: Monitor your accounts regularly
Even with the best security measures in place, it's still a good idea to stay vigilant and check your accounts regularly. Look for any suspicious activity or transactions that you don't recognize. If you notice anything unusual, report it to your bank immediately.
Most banks also provide tools that allow you to set spending limits or track your expenses. These tools can be helpful in managing your finances and detecting fraudulent activity early.
Don't: Leave your phone unlocked or unattended
Your mobile phone is essentially your digital wallet. If it's not secured properly, anyone who gets access to it could potentially access your bank accounts. Make sure your phone is password-protected. If available, use biometric authentication (like fingerprint or facial recognition) for added security.
If you need to leave your phone unattended, make sure it's locked and safely stored out of sight.
Keep your mobile banking safe
Securing your mobile banking account is essential in protecting your finances from potential cyber threats. By following these simple dos and don'ts, you can significantly reduce the risk of unauthorized access.
Disclaimer: Article content is intended for information only. It may not reflect the publisher nor employees' views. Consult a financial professional before making financial decisions. Publishers or platforms may be compensated for access to third party websites.
CONTACT:
Sonakshi Murze
Manager
sonakshi.murze@iquanti.com
SOURCE: iQuanti
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