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See steps to safely use banking apps on smartphones



The way that we carry out our banking operations has changed dramatically over the years. The increasing use of the Internet in the last decade has helped to remove the need to go to our banks or Automated Teller Machines to manage transactions or to move money around. In the past couple of years, the landscape has changed even further with the advent of smartphones, meaning that we can also look after our finances on the go.

If you have a smartphone, then it is likely that you will also have downloaded the official app of your bank.


According to www.pandasecurity.com, most banks have invested greatly in ensuring the security of these apps, as any potential problems can be devastating for the reputation of the bank. These apps often have limits set on the amount of money you can transfer through them to minimise the risks and some demand a code from a token or card reader to authorise any transaction.


However, as with all apps, it pays to be safe and take precautions when using your banking application, just as you would with your credit cards.

To help you stay safe, here are a few easy tips to help you bank safely from the comfort of your smartphone, according to www.pandasecurity.com.

Only use official apps

This may seem slightly silly, but you need to make sure that you’ve downloaded the official app from your bank. Scammers are always on the prowl, seeking to push the fake version of the bank’s app in order to defraud you of your hard-earned money. One of the best ways to do this is to enter a branch of your bank and ask them to download their app on your phone.

Keep the apps updated

This piece of advice goes for all applications that you install; but with banking apps, it is even more important. With each update, the developer may have included increased security defences, which if you haven’t updated to, can leave you exposed. Banks in the country are increasingly updating their apps and there is a need for you to keep up to date.

Select the SMS authorisation option

Search for this option in the app, which means your bank will send you an SMS every time money has been lodged or removed from the account. This will allow you to spot any discrepancies before it’s too late. As an additional layer of defence, you need to get your bank to send you email each time a transaction occurs on your account. As a form of warning, anytime either your SMS notification or email notification stops working, quickly get in touch with your bank to know why and let it be quickly rectified. Some bank customers have been defrauded at a time their SMS/email notification stops working.

Log out when not in use

When you have finished using the app, it is very important that you log out of it. This will help protect you in the event of your phone ending up in the hands of the wrong person.

Use a phone tracker

Getting a phone tracking app is an efficient way of remotely deleting information from your device in case you lose it or it is stolen. There are several phone tracking apps you can easily acquire today. It is best to do this than to regret not taking such a step. A stitch in time, they say, saves nine.

Install a trusted antivirus

A good antivirus will protect you from any suspicious activity or malicious apps. Panda offers solutions for both Android and iOS users in the form of Panda Mobile Security for Android and Panda Antivirus for Mac, which also scans iPhones for malware. There are several other kinds of antivirus you can install in your smartphone.

Finally, if you suspect that you have been the target of banking fraud, contact your bank immediately.

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