How Secure Is Mobile Banking?

Mobile bankingallows you to perform financial transactions away from the financial institutions such as the banks, through mobile devices like smartphones and tablets.The remote processing of financial transactions has been made possible through technological innovations. For instance, almost all banking institutions have developed mobile applications, which account owners can download into their phones to use to gain access to their accounts, and perform all manner of business transactions. 

Through mobile banking, you can easily settle pending bills, or send money to someone, without having to physically be present in the bank. Also, you can simply monitor your bank account’s financial activities from the comfort of your home, given that you can check your balance, and still get notifications through your phone I the event of a debit or credit transactions in your bank account. 

However, every time you perform a given transaction through your mobile device, how sure are you of the security of your transaction?How secure are you doing mobile banking? That is the question that always lingers in everyone’s mind anytime they sit at home to send someone money or even pay bills through their mobile devices.

However, you must realize that mobile banking is one of the safest online activity, given the precaution or acts taken by the bank and consumers to ensure safety. Here is a list of the activities banks plus consumers must undertake to ensure mobile banking is secure.

Installation of Anti-Malware Plus Anti-Virus Software in the Mobile Devices

Consumers have the responsibility to ensure that their mobile devices are free of viruses or malware that are often disguised in other phone’s downloadable applications. Scammers have designed peculiar ways of stealing your data, without raising any suspicion. For instance, you may find that you have been sent for a link promising you some rewards. Most times, such links are nothing but fraud techniques that are used by fraudsters to gain access to your mobile phone to steal personal data such as passwords.

However, by installing one of the best antivirus for windows in your mobile device, you become sure of the safety of your financial transactions. The antivirus or antimalware is able to quickly detect the virus or malware and eliminate them as quickly as possible, thus protecting you from mobile banking threats.

Physical Safety of Your Mobile Device

Mobile devices like the phones are very portable, and are usually in one’s possession at all times. However, some individuals tend to be so forgetful, and sometimes leave or forget their phones at open places, making them accessible y fraudsters or people with ill intent. Mobile devices that do not have screen locks, especially, are the most targeted.

When phones are stolen, the thieves always target the mobile messages where they can obtain bank messages indicating bank balances and other vital persona data. Hence, by ensuring that you are in possession of your phone at all times, then you are also ensuring mobile banking safety.

Use Strong Passcodes and the Two Factor Authentication

The banks usually provide its users with passwords to use to access their bank accounts, and give you the consumers the opportunity to change your bank accounts’ passwords anytime you want, especially when you feel your current password is not strong enough or is exposed. Therefore, the use passwords to access the bank accounts makes mobile banking secure, since you are the only one who knows the passwords to your account.

Additionally, financial institutions have introduced the two factor authentication, in order to grant access to the bank accounts. The two factor authentication comprises the use of more than one verification processes to access one’s bank account. Therefore, you are only granted entry after successfully giving an authentication mechanism more than one evidences. Hence, this element aids in ensuring mobile banking safety. 

Avoid Getting into Suspicious Sites

Online fraudsters have devised ways of gaining access to your phone to steal personal data. You will sometimes find some mobile applications that akin the genuine bank apps. Other times you will find being told to download some antivirus software because your phone has virus. 

Moreover, when searching for a certain banking institution be warry of the misspelled sites names, as they could be intended on capturing your personal data when you click on them. hence, by avoiding all these and only dealing with trusted sites, you make mobile banking secure. 

Installing firewall

Install firewall for security

Secure internet connection

Nowadays, access to the internet has been made possible with the presence of public Wi-Fi everywhere especially in restaurants. Free Wi-Fi are often breeding grounds where fraudsters are often present in the hopes of getting access to the personal data of the not so unsuspecting internet users.

However, you must be aware of fraudsters associated with free or public Wi-Fi, and always ensure that the internets they use when transacting are entirely secure, that way, mobile banking remains secure. Also, you can integrate the Virtual Private Network (VPN) in your device, to enhance online privacy.


All in all, mobile banking is secure. It all depends on you as the client to take the right precautions towards ensuring that your mobile transactions are ever secure. Always use strong passwords and opt for the two step verification, avoid using public Wi-Fi,install antivirus, avoid suspicious sites, and always ensure you have your mobile device with you. All these are aimed at ensuring mobile banking safety.

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