Banking Safety on the Go
It’s difficult to find a person who doesn’t do a least a portion of their banking on the go with a mobile app.Some users may only transfer funds occasionally using Zelle or another peer-to-peer payment app. Other consumers check their account balance, deposit checks and pay bills all from their phone or tablet device.
How can you keep your personal information safe while enjoying the flexibility of mobile banking? This article outlines simple reminders to safeguard your data.
Mobile Banking Safety
Set Up Account AlertsOne precaution that only takes a moment is setting up account alerts. Mobile banking alerts, typically received via text, can alert you to a low balance, when a transaction or check clears, or when an automatic draft is deducted from your account.
Account alerts allow you to easily receive notifications about where your money is going, as well as when you receive money. Being in the know can warn you about unauthorized purchases or a missing deposit.
That new mobile game may look fun, but is it hiding malware? Is the popular app of the week circulating on social media actually dangerous?
Be Wary of App Downloads
When you download an unverified app, you may also inadvertently download malicious software designed to steal your personal information like passwords.
Only Bank VerifiedJust like cybercriminals will infect games and other apps with harmful spyware, they have also created fake banking apps. The logo and name may appear correct in the App Store or Google Play, but scammers can easily copy company branding. It’s advisable to download mobile banking apps using links directly from your bank’s website.
Using your bank’s official mobile app gives you additional layers of security. You can also enable automatic updates so you don’t miss out on critical features.
Don’t Trust Public Wi-FiIt’s easy to check your balance or send money on the go. Using public Wi-Fi to do so, however, could leave your financial information compromised.
Before you log into mobile banking, take a moment to turn off your phone’s Wi-Fi and use your cellular data instead.
Add Security To Your PhoneAntivirus and security software isn’t just for computers. Technology experts like Norton also have protection software available for phones and tablets for users wanting an extra layer of security.
Just like when downloading your mobile banking app, it’s wise to go straight to the source and only download apps from reputable websites.
Mobile Deposit SafetySimple and fast, mobile deposits make receiving checks easier than ever. Overall, mobile deposits are just as safe as bringing a check to your local branch. When you capture a photo of your check, it’s encrypted and sent to the bank.
Whether you are depositing a check using your mobile device, at an ATM or in a branch, be aware of scammers who use social media to post fraudulent job offers and conduct fraudulent transactions.
Scammers provide a fake check and con someone into depositing the check. Once deposited, the scammer claims to have accidentally overpaid the person and demands the victim return the overpayment via cashier’s check, wire transfer, gift card, or other means. The check is revealed to be fraudulent, and the victim is out the funds they transferred back. Verification is key to avoiding check scams. Do not send money to people you do not know. Be wary if the person is in a rush to receive funds. Urgency is often a sign they are trying to hurry you into making a mistake.
New to mobile deposit? Try these tips.
About the Author, Jessica Jeffords: Jessica has been with SouthState bank for more than ten years, where she has held positions in many departments from deposit processing, customer care, and digital consumer banking. When she worked in the call center, she discovered a passion for digital banking when she realized the convenience and ease it brought to the lives of her customers. She has a strong desire to enrich the lives of her customers, and especially enjoys assisting those with financial burdens.