Is Mobile Banking Safe?
Mobile banking is an excellent way to keep an eye on your bank account, and a practical tool for conducting financial transactions. You generally need an app, which you log into with your credentials, but you could also make transactions through a text message or login into the bank’s mobile website.
Online mobile banking has become a common thing nowadays, thanks to the rise of technology and the implementation of the internet in almost every segment of our lives. Now, your phone is a device through which you can do things that were unimaginable only a decade ago.
Unfortunately, this new convenience brought a new wave of threats, this time targeting users’ online identities. There are many ways in which criminals can access your personal information nowadays and harm you. Cybercrime has spread all over the world, and it usually affects people that are barely aware of the possible danger they might find themselves in.
Exposing your mobile phone to such dangers could compromise your credentials and it leaves you vulnerable to hackers who can then access your bank account. Cybercrime and data thefts are on the rise, and you could be a potential victim.
Fortunately there are ways to protect yourself, and still get all the benefits of online banking. To properly protect both your money and privacy you first need to know the possible threats that you might face.
Things You Should Keep An Eye On
The list of things that you might be doing wrong in terms of online safety is extensive. Most of us don’t do certain things that are essential when it comes to protecting our privacy. We keep so much sensitive information on our phones, yet we don’t really think of what would happen if this information falls into the wrong hands.
For starters, it’s best to inform yourself. You need to recognize the types of attacks that you are susceptible to.
Phishing is a type of social engineering technique, in which the attacker will try to get to your private information, in this case, your bank account credentials, by pretending to be a trustworthy entity.
There are many types of phishing, depending on the ways that are used by the attacker to get to your sensitive data. For example, it could be an email from a fake address that looks exactly like an authentic one containing a malicious link that when you click on it infects your device.
With mobile phones, it’s easier to protect yourself because there’s no mobile equivalent of computer viruses. It’s usually a malicious application that causes trouble and it's easy enough to delete it. On an iPhone if you have trouble deleting the app you can restore your device to an earlier backup, and on Android first put your phone in safe mode and then delete the malicious app.
How often do you use a public Wifi network, one that’s not in your home or at work? The answer to this question can be of great significance in locating a possible threat to your mobile devices.
Public Wifi spots can be very dangerous if you are not being careful, people that use them can fall victim to a man-in-the-middle attack. This attack is when the attacker intercepts the data leaving your device on through the network you're connected to. You won’t even notice that your actions are being observed by the attacker.
To avoid falling a victim to this hacker attack, yet still be able to connect to a public Wifi network, it’s best to use a virtual private network (VPN). This is also an effective tool for other online threats, especially when it comes to mobile banking. A VPN is a software that encrypts your internet traffic and disguises you online. This will make it impossible for attackers to get a hold of your data.
Best VPN For Mobile Banking
When choosing a VPN you need a provider that puts their main focus on security. That means the security protocols and the encryptions the VPN provider offers to its users should be the best.
You also want to go with a trustworthy VPN provider, and that’s usually not something you can find in free VPN mobile apps. You need to be careful with them, as there is much evidence that free mobile VPNs can do more harm than good for your phone.
We’re selecting ExpressVPN as the best high-quality VPN to ease up your search. You can take into consideration that the provider is secure and will keep your mobile banking data safe.
For a long time, ExpressVPN has been the leader in the industry, thanks to its remarkable performance and excellent features.
What you need for mobile banking is a trustworthy service provider that will encrypt your traffic and keep you incognito on the internet. ExpressVPN is excellent for that purpose because it comes with AES 256-bit encryption and offers various quality security protocols, including OpenVPN.
Among other features, ExpressVPN allows three simultaneous connections, has more than 100 server locations and provides excellent speeds. ExpressVPN does not have a free plan, nor a free trial. It does, however, offer a refund on your money if you are not satisfied within the first month of the purchase.
How To Set Up A VPN On Your Mobile?
There are two ways to set up a VPN on your mobile phone. The first one is to manually do this, by finding the VPN network settings.
The second, much easier option, is to install a VPN client. You can find them on your Google Play store (for Android users) and Apple’s App Store (for iOS users), then just install the app like normal, and sign in with your credentials. If you don’t have an account you will need to go to the VPN's website to create one. Once you’ve opened the app, just choose a preferred VPN server and connect to it.
Remember, don’t ever access your bank account on your mobile before connecting to a VPN, especially when you are connected to a public Wifi network, even if it’s from a place you regularly visit.
Additional Tips To Keep Your Mobile Bank Account Safe
If you want your bank account to remain safe, even when you are using it through your mobile, make sure you to practice the following advice:
- Change your passwords regularly and don’t use the same one for every account.
- Use double authentication on all of your accounts.
- Check your phone for unknown applications, and if you find something make sure you delete it.
- Be careful when you open emails, websites, and ads. Don’t click on links that look suspicious.
- Don’t give away sensitive information to anyone.
- Lock your phone with a password and always keep an eye on it.
- Don’t access sensitive accounts over free Wifi.
- Regularly update your device.
Mobile banking is safe as long as you take all of these things seriously. If you are being cautious and know what you are dealing with, there should be no room for worries and fear. If you have any questions, make sure you write a comment below.