7 Ways to Protect Your Security When Mobile Banking

This post may contain affiliate links which may compensate us based on your interaction. Please read the disclosures for more information.

Online banking services are convenient, but be sure to consider your account security. Find out how to protect your bank accounts when using mobile banking. 

Many people use mobile apps to handle everyday affairs, including financial tasks. While banking apps can be convenient and help us save time, it’s essential to take extra steps to keep your online accounts safe. Otherwise, you could put your money at risk of being stolen. The following tips can help you keep your online banking accounts secure.

1. Use strong passwords

The password that you choose for your online bank account matters. It’s best to use strong passwords that aren’t easy to guess. Experts recommend using a mix of upper and lowercase characters and symbols for the best results. If your current password is easy to guess, now is the time to update it so you can keep the money in your checking account safe.

2. Use a unique username

You may already have a safe, strong password, but what about your username? It can be tempting to choose a simple username to save time when logging in, but that can make it easier for fraudsters to access your online savings account or checking account. When setting up online financial accounts, create a unique username and avoid using your name.

3. Be wary of links included in messages

Phishing scams are becoming more common. What might look like a genuine email or text message from your bank could be a fake message from a scammer attempting to access your online accounts. Avoid clicking on links included in emails or text messages, especially if they look suspicious. Instead, visit your bank’s website directly to access your account or call it to determine if the message you received is legitimate or fake.

4. Avoid accessing accounts when using public wifi

Mobile banking is convenient because you can access your bank accounts anytime and anywhere. But that doesn’t mean you should access your bank accounts everywhere. It’s best to avoid accessing your account while connected to public wifi. Hackers can intercept data on unsecured networks, which means they could access your financial account information. Before using mobile banking services, connect to a private network you trust.

5. Enable two-factor authentication

Two-factor authentication adds an extra layer of security to your online accounts and should be enabled for mobile banking accounts. Once you set this up, you’ll be asked to take two steps to verify your accounts when logging in. Enabling two-factor authentication can give you peace of mind and make it harder for scammers to access your bank accounts.

6. Access official websites and mobile apps

Most banks have mobile banking services built into their websites and mobile apps. But always check to ensure you’re logging into an official mobile banking app or website. Some scammers set up fake websites and mobile apps that look real. If you use them, you may accidentally provide your personal login information to a scammer and put your money at risk. Always review the website address and mobile app details before logging in.

7. Review your online accounts often

Another step you can take to protect your security is to review your online banking accounts often. You can view your recent account transactions through your bank’s website or mobile app. By doing this, you can spot suspicious activity quickly and take action right away. If you notice something abnormal, contact your bank immediately to report it.

Practice caution when accessing online accounts

Mobile banking services make it easy to handle everyday banking needs from home. But it’s essential to take extra steps to protect your online banking accounts so you don’t fall victim to financial fraud. Check out our personal finance resources for more money management tips.

These savings accounts are FDIC insured and could earn you 12x your bank

Many people are missing out on guaranteed returns as their money languishes in a big bank savings account earning next to no interest. Our picks of the best online savings accounts can earn you 12x the national average savings account rate. Click here to uncover the best-in-class picks that landed a spot on our shortlist of the best savings accounts for 2023.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

 Read More