How to do Banking Safely on Smartphone?

Is mobile banking safe

Last Updated on March 20, 2024 by Team Experts

In today’s busy lifestyle, mobile banking seems to be the most suitable way to keep constant track of your finances. But the biggest concern is –’Is mobile banking safe?’

Mobile banking means managing your money through your mobile, via the apps provided by the banks for this purpose. Mobi Garage provides you with refurbished smartphones, on which these apps can be operated smoothly. You can buy your preferred Refurbished Mobile Phone through our portal at surprisingly subsidised prices and run the mobile banking apps with great ease.

With some important points provided by Mobi Garage, you will be able to perform safe and secure online transactions.

1. Stay Updated:

For internet banking from our mobiles, we use an application provided by the bank for all the transaction purposes. According to various surveys conducted by many banking institutions, the main mistake that many people tend to make is that they do not keep track of the updates provided by the banks about that app.

New security flaws keep popping up now and then, and the banks in collaboration with the app developers, patch the flaws and release an update in this regard. It is vital to keep all your apps updated, to avoid falling prey to fraudsters.

Avoid downloading the banks’ official apps from the app store; make sure you get them straight from your Bank’s Website. 

2. Create a strong password:

This is the most common tip, but one of the most important ones of all the same. To create a secure password it is mandatory to use eight or more characters and include various numbers, symbols, letters and punctuation marks. It should be a unique password that no one should be able to guess, however hard he might try.

As your smartphone is also being utilised in the mobile banking process, it should also be password-protected, to be extra sure.

3. Switch off Blue Tooth When Smartphone is Not in Use:

To stop any uninvited wireless activity on your smartphone, switch off the Bluetooth feature when not using your mobile. Refrain from texting sensitive data to your bank as it might reach the wrong hands. 

4. Use Secure Internet Connections Only:

 Avoid using public network connections while accessing your bank accounts for safety against frauds, because the devices that are connected to a public network or Public Wi-Fi have a high risk of data theft. The means of transaction is through the internet; it definitely should be attempted through a secure medium.

 Connecting to the internet, using a wireless internet connection or a mobile provider network is the safest option.

5. Be Equipped to Clear Your Data if it is required:

Being optimistic is great, but it is good to be prepared to face the worst scenario with aplomb. Following this advice, you should be equipped to remove all the apps installed on your device if required from far away. It will be useful for you as you can reset your phone to its factory settings if the mobile is lost or stolen.

In other words, all your contacts, emails and sensitive information will be removed permanently, from your phone’s memory so that no one can misuse them. There are a variety of data wiping apps, namely the Mobile Defence App, which is suitable for Android smartphones. 

6. Have a Dependable Antivirus Installed:

Install an effective mobile antivirus on your smartphone. Mobile viruses are becoming more powerful and sophisticated and pose an increasing threat to your mobile data. The new mobile phone operating systems have built-in security, but you have to get a dependable antivirus installed to add an extra level of protection.

Almost all antiviruses’ providers offer dependable smartphone security packages. These packages keep a check on the background activities on your smartphones, to protect your data against the virus from compromising it.

Some banks now-a-days provide special software to eliminate the threat of mobile fraud. This aims to provide extra protection for your data against any computer virus attack. 

For a secure banking experience, you need a sturdy and secure smartphone. For this, the mobile should be in excellent condition to be able to be updated with the latest security measures. No worries if you do not possess a smartphone that is good enough to meet all requirements!

Try the range of refurbished smartphones offered to you through at unbelievable low prices. You can enjoy a hassle-free and secure banking experience via these refurbished phones displayed on the portal of Mobi Garage, which are almost as good as new.

Read more: How Do You Put Money Into an Online Bank Account?

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Erin Lane is a creative writer and lifestyle blogger from Canberra, Australia. She is a hard-working, organized, dedicated professional interested in learning new things. With over six years of experience in writing, Erin has covered numerous topics, including health, tech, fashion, fitness, makeup, home improvement, decoration, business, and finances. Erin is an active person who enjoys nature and traveling. Follow her on Facebook, Twitter/X, Instagram

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