Mobile Banking Tips

Introduction

You're in line at the coffee shop, and while you wait, you quickly check your account balance on your phone, transfer some money, pay a bill, maybe even deposit a check – all before your latte is ready. Mobile banking has made managing money incredibly easy.

But here's the thing: that same phone holding your banking app also has your photos, emails, social media, and pretty much your entire digital life on it.

If it falls into the wrong hands, things could get messy fast. So how do you keep your money safe while still enjoying the convenience? It's simpler than you think.

Storage of password/personal information

Do not store personal information such as passwords, PIN numbers, or other sensitive details on your phone, as fraudsters are skilled at locating such data.

Always try to memorise your banking details and ensure that all stored information is deleted before you sell your device or give it to someone else.

Keeping software on your device up-to-date

Regular software updates help protect your device from security vulnerabilities. So, be sure to check and update it as frequently as you can.

• To ensure your device is always current, regularly check for software updates.
• If you are unsure how to update your device, contact your phone manufacturer’s Customer Care for assistance.
• Security software for smartphones and tablets is often included as part of standard features. You should familiarise yourself with these features and use them.

Device protection when not in use

Locking your device when it is not in use helps prevent unauthorised access to your information. Here’s what you can do in this regard:

• Almost all devices allow you to lock your phone using a PIN number.
• Ensure this feature is enabled on your device and keep your phone locked whenever it is not in use.
• This feature helps protect your information if your phone is stolen or misplaced.

In case of sharing/selling your phone

If you have to share your phone with someone else or send it for repair or maintenance:

• Clear your browsing history.
• Clear cache and temporary files stored in memory, as they may contain account numbers or other sensitive information.
• Block your mobile banking applications by contacting your bank. You can unblock them once you get your phone back.

Conclusion

Your phone goes everywhere with you – it's practically an extension of your hand. And now that it's also your bank, keeping it secure isn't just smart, it's necessary.

So, simple habits like using strong passwords, keeping your apps updated, and locking your screen can go a long way. And if you ever need to hand over your phone for repairs or sell it, a quick wipe of your data is all it takes.