Tuesday, May 13, 2014

7 Ways to Improve Your Mobile Banking Security

As mobile banking grows in popularity, experts are offering consumers advice on how to safely use this service so they can be protected while conveniently managing their finances. It’s timely advice; mobile banking is one of the industry’s fastest growing trends because it gives consumers flexibility and the chance to manage their finances anytime and anywhere. But to enjoy the benefits without compromising security, you need to make informed decisions, avoiding the scams and schemes that are growing up around this new technology. To that end, some tips:

1.Invest in an antivirus app for your smartphone or tablet to help protect you when downloading other apps and mobile content. A good site I found for ideas on this is Digitl Trends, Top 5 Android security Apps.

2.Never provide personal identification or banking information over your mobile device unless you initiate the contact and you know that you’re dealing directly with your bank.

3.Never share your password, account number, PIN, or answers to your secret questions. Moreover, don't save this information anywhere on your phone – if you do, and it’s lost or stolen, you’re a sitting duck.

4.Never set an app to automatically log you into your bank account. If you do and your device is lost or stolen, someone will have free access to your money.

5.Set your phone to require a password to power on the handset or awaken it from sleep mode.

6.Remember, your bank would never call or text you asking for personal or banking information. Assume any unsolicited text request is fraudulent.

7.Immediately tell your mobile operator and your bank if you lose your phone.

You can ensure multiple antivirus programs aren’t interfering with each other by making sure they aren’t scanning at the same time.

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