Want to know how your smart phone is secure or not? This is the guest post by banksifsccodes.com. Here you can get the vital security tips for smart phone banking.

This is the era of smart phones, mobile applications and technological literacy. Judging from the TV commercials, using a Cell phone to check your bank balance, transfer money and pay bills seems like a no-brainer, so easy and convenient that anyone who doesn’t do it must be some kind of Luddite.

With all the tech-savvy crooks and identity thieves lurking about, one may question if it is it really a good idea to have your precious financial information floating around the airwaves or residing on a piece of gear that you could easily lose. Given below are some of the vital security tips for smart phone banking.

Mobile banking

1.  Avoid unsecured Wi-Fi, Use 3G/4G networks

Wi-fi networks, especially public Wi-Fi networks have a lackluster reputation for security. While predominantly most users have a secured connection, there lurk several unsecure networks that may pose a security threat. Use of 3G or 4G data on the other hand is more fool-proof since all major mobile carriers secure their mobile data connections with authentication and encryption methods that could be theoretically compromised. Ultimately, 3G and 4G can be considered as secure as a connection could be, and anyone doing mobile banking would be wise to rely on mobile data rather than Wi-Fi.

2. Ensure Security of the mobile device to ensure security of banking

The smartphone itself is more likely to produce a secure flaw that might compromise your banking. While iOS malware remains rare and is usually pulled from the App Store shortly after it’s discovered, Android especially has been assaulted with numerous risks, and their numbers proliferate with each month.

Your banking can only be as secure as your device, so keeping malware off your phone is absolutely critical. All users should be wary of apps not obtained from an official app store, keep away from unsolicited text messages which contain links, and monitor their data usage for inconsistences. Android users must ensure that they download an anti-virus application on their devices, so as to avert any unwarranted risks.

3. Use the Bank’s Application

Everyone who accesses their accounts via smartphone should use the app provided by their bank or Credit Card Company. This is an advantage because it negates all of the browser vulnerabilities and phishing tricks that attackers commonly use to try and steal account information. For more information on credit card application status visit this portal.

There’s just one worry: fake apps. Sometimes a malicious app will find its way onto Google Play or (more rarely) iOS and temporarily pose as the real thing. The fake is most likely malware, designed to steal user ID and password information when it’s entered.

digital payment

Read more for fake banking apps generally don’t last long when posted, but even so, users should check an app’s information before downloading it. Look for any inconsistencies, such as an unusually low number of reviews or a strange publisher name. If in doubt, don’t use it.

4. Knowledge of action to be taken if the phone is stolen

While a PIN or unlock pattern is nice, it can’t always be relied on to protect your phone if someone steals it. Many phones have flaws that make it possible to in some way bypass the lock screen, some take a few moments, some take a half-hour. Either way, a thief can try whatever they like at their leisure. The key is to have a plan.  Wiping the device, in order to secure it, by way of “Find my iPhone” in case of Apple devices and Google’s Android device in case of Android devices will help this cause.

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5. Turn your phone into a security tool

While a smartphone does represent a new point of access for malware and criminals, it also can be a valuable tool to protect you. A locked phone running antivirus can be a boon to security.

Simple SMS or email alerts about account activity, now available at most banks globally, can be a tremendous boon for account security. Depending on the bank, they might alert you about unusually large transactions, transactions from an unusual location, or simply tell you someone has logged in to your account.

All of these tools are invaluable, as they’ll help users detect fraud when it occurs. Even checking accounts daily on a PC won’t be as effective, particularly for people who keep a “backup” credit card or savings account and don’t regularly check its balance.

These are some of the steps that mobile phone users can take to secure their internet banking via their mobile phones.

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