There are numerous advantages to mobile banking on your smart phone, tablet or laptop computer. Besides the convenience factor, there's the quick access to your accounts that mobile banking affords, which can be helpful when you're traveling or doing business at odd hours. Plus, in many instances, mobile banking means that you're helping the environment, since banking on your computer devices involves less paper and ink used for bank statements, checks and so forth.
With proper precautions (and a reliable, experienced banking partner), mobile banking is a safe option for conducting personal or commercial banking business. However, whether you're just dipping your toe into the mobile banking pond, or you're a savvy early adopter, there are a few precautions all consumers must take in order to safeguard their account and protect themselves from identity theft. Here are a few tips to consider:
Tip One: Know before you download.
Many computer criminals will attempt to gain access to your accounts via illegitimate applications (apps) masquerading as authentic apps from your bank or other provider. If the app logo looks a bit "off", is suggested to you via an unknown source, or requires personal information to be entered in order to download, stay away.
Tip Two: Don't use your mobile banking apps in unsecured environments.
The free wi-fi hotspot at the coffee shop may be convenient, but it also may not be very secure. Whenever possible, use your mobile apps at home, at work, or in other secure environments that are not open to the public.
Tip Three: Don't click on links.
Your bank should never ask for you to submit any personal information via email or text. If you get a message saying something like "action needed" or "your account's been compromised", call your bank's 800 number and ask for verification before proceeding. Chances are the message is a criminal's attempt, known as "phishing" or "spoofing", to fool you into believing you're receiving an official communication from your bank.
Tip Four: Don't keep personal details unsecured on your phone or laptop.
If you use your laptop or phone to access your account, make sure you clear your cookies and cache on a regular basis, so that your accounts can't be accessed should your computer or phone get stolen. ("How to" information on clearing cache can be readily found via an Internet search or by placing a call to your phone or computer provider.) Also, set up your phone and computer so that they require a password to be entered in order to gain access to the device.
Tip Five: Ask your bank for help.
Your bank likely has a wealth of information on its website about security and privacy best practices. Take some time to read through it, and follow-up with your banker with questions. Ask if the bank has a security brochure or handbook you can keep in your desk or car in case of a security emergency.
Bonus Tip: Your kids' names or high school mascot may be easy-to-remember passwords, but they aren't very secure. Change your passwords every 90 days, being sure to use words and phrases that aren't easy to guess. For extra protection, incorporate capital and lowercase letters, and use symbols and numerals.
Learn more about mobile banking options and other banking products at www.greenbank.com
By: Marsha Gordon
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