Top five tips for mobile banking

In our tech-savvy world, everything is readily accessible and convenient…even banking. Gone are the days of waiting in line at the bank or even waiting for your computer to boot up. Now you can get access to your bank account from anywhere in the world via your smart phone or tablet.smartphone

But consumers need to be more cautious than ever when banking through any device, as hackers can prey on the unsuspecting.  The FINRA Investor Education Foundation, part of the Financial Industry Regulatory Authority, offers these five tips on how to keep your identity safe and your money in the bank:

Password-protect your phone or tablet so that only you can get access to the information on your device. This will help protect you if your phone or tablet is ever lost or stolen.

Never give personal information unless you start contact with your bank or other financial institution. Financial institutions should not ask account numbers, Social Security numbers or other sensitive information through email or text messages. If you’re not sure about a request, contact your bank by calling number on the back of your debit or credit card.

Don’t stay “auto-logged in” to your accounts. Even though it’s convenient, it increases the risk that an unauthorized user will get access to your accounts.

Delete old texts from your bank to cut your exposure to fraud.

Report lost or stolen devices immediately to your wireless provider and financial institutions.

Read more from FINRA about how to protect your money.

For more tips you can trust, visit bbb.org and for the latest, follow us on Facebook at www.Facebook.com/BetterBusinessBureau.

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1 Comment

Filed under News You Can Trust

One response to “Top five tips for mobile banking

  1. Mark Burrows

    Here is a better one yet. Get rid of your smart phone and go back to a normal cellphone. Okay, yes, I have a smart phone, and I was thrilled to get it. I couldn’t put it down for weeks, the novelty of having one had me in it’s grip. I downloaded app after app. Then I got my bill. Sure, using it as a phone did not cost me a thing, but the cost of downloading and running the apps flayed me. Now, I am no longer impressed. There is nothing so important when I am out and about that I can not wait to get home and use my computer, that I need to whip out my phone and start deftly swiping and tapping the touch screen. I am not a pickpocket, but as I look about and see so many people absorbed into their portable devices, one would think it would be a pickpocket’s paradise. But what would they gain? Likely no cash as most people use debit and credit cards. So you would find wallets stuffed with receipts and credit cards that have probably been maxed out, and other things that should have been tossed out because they are well passed expiry date. Ah, what a society we have become.

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