Quick tips to secure your mobile banking

19th November 2015


Banking transactions were not very convenient up till the recent past. You would have to make a trip to your bank branch for everything from depositing or withdrawing cash, to an account transfer. It was a time consuming activity; at times it would feel like the whole world is at the bank when you’re there, all crowded around the three teller counters getting their needs catered.

With the advent of internet, smart phones, and tablets, we now have several options to conduct our banking on the go, at any hour of the day. This advancement in technology does come with certain setbacks of its own; internet banking is open to fraud and scam. However, as mobile banking is becoming more sophisticated every day, there are some basic rules you can follow to make sure your account is safe.

Keep track of your mobile device

The biggest advantage of mobile banking also puts your account at the highest risk. Mobile banking is gaining popularity because of the convenience of being carried around everywhere, and they contain everything including your passwords, contacts, and calendar appointments. If in the wrong hands, this information can be dangerous.

Unless you want to strap your phone to your body, or shun away from any and all forms of technology, you can keep your device locked with strong passwords, and install applications like “Find My Phone” on your mobile in case it is lost or stolen.

Don't Follow Links

Phishing is the act of tricking someone into revealing their private information. It can be done via text, or e-mail such as a warning that you need to “verify” bank accounts or other personal information, or an amazing offer (one that is “too good to be true”) designed to lead you to a fake website controlled by scammers. You can avoid becoming a victim of such scams by simply using the official websites of your bank for all banking transaction, and by not falling prey to these “unbelievably amazing” offers. Also, NEVER send your account information to anyone using text messages or emails.

Avoid Banking While on Public Networks

Avoid using mobile banking when connected to public Wi-Fi networks at cafes, coffee shops etc.; fraud artists might have access to the information you’re viewing and transmitting. It is always better to switch to your mobile data network and turn off Wi-Fi access while using your phone to make banking transactions.

Use Official Bank Apps When Possible

Most banks now offer their official banking applications to their customer base; it can be downloaded on your mobile phones and tablets. These applications are considered more secure; they encrypt all data exchanged through networks, and conduct checks on their official websites, or by calling respective customers for transaction confirmation. 

Don't be scared of using your mobile device to access your bank accounts. Just be sure to practice good, safe behaviors and keep track of your gadgets. With a little attention and precaution, mobile banking can be both convenient and secure.


By Hala Ahmad


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