4 Safety Measures for Mobile Banking Transactions

A woman banking on a phoneNowadays, people can pay their electricity bills and insurance as well as make online purchases with a tap on their smartphone. This is because the era of mobile banking has entered and is here to stay.

However, banks with mobile banking services are acknowledging the fact that there are risks involved with using your phone for transactions. The good news is that they’re doing their best to keep your funds protected. As a user, you also have your own role to play to ensure that your transactions and your savings are protected.

1. Use official apps and sites

Anyone who has knowledge of creating software and programs can create a fraudulent bank site easily. To avoid such things from happening, use only official sites and apps in transacting your business. The best way to do this is to ask your bank directly about which apps to download and sites to use.

2. Access through private networks

Avoid paying your bills while using the subway’s free Wi-Fi or while you’re in a coffee shop. These public connections are vulnerable to hacks, which can make your bank account easily accessible to others.

3. Change your password regularly

Changing your password regularly might seem like a hassle. In reality, however, it’s one of the simplest yet most effective ways of protecting your savings. Be sure not to forget them, though, so you won’t get locked out of your own account.

4. Be vigilant with your emails

Phishing is a rising fraudulent act on the Internet. A scammer will send users an e-mail posing as the bank and asking for information. The e-mail and website you will be directed to would look legitimate, but is not the official one. Therefore, always be vigilant and check the website URL itself before entering your information. When in doubt, you can always contact your bank for verification.

Enjoy the convenience of online banking with ease by knowing how to be vigilant in your transactions.