Mobile Banking

If the Internet made online banking easy, the proliferation of mobile devices and apps have made connecting to your bank even easier. Mobile phones and devices now let you connect to your money from virtually anywhere. While banking online from your computer has risks, connecting from a mobile device has its own unique challenges.

Here are some important things to remember when using a mobile telephone or device to conduct online banking.

-First, password-protect your mobile device. Most phones and tablets allow you to set a password that must be entered in order to use the device. We walk you through that process in a previous Security Matters episode.

-Verify the mobile banking app is legitimate. Most banks allow you to download their application directly from their website. If an app looks suspicious to you, don't download it. If in doubt, call the financial institution directly or visit a local branch.

-If your phone is stolen or lost, immediately notify your bank. They can help assist you in changing your mobile banking profile.

-Monitor your accounts regularly. Any suspicious activity should be reported to your bank as soon as possible. The great thing about mobile banking is that you can monitor your account quickly and easily. If you check your account often, you'll be able to spot any potential fraud sooner rather than later.

-Don't disclose sensitive information via text message or email. Delete any text or email that contains anything like account numbers, passwords, or confirmation codes.

-Finally, remember to logout of your mobile banking app when finished. While most banks log you out automatically after a period of time, always err on the side of caution.

Keep these tips in mind when banking from your mobile device.

Learn more about online security and privacy on our website, at www.securitymatters.iu.edu.

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