Mobile Banking Security Tips

Mobile banking services are expanding in the world day by day. People are opening a mobile banking account using their own cellphone numbers. To have the convenience of transferring money and buying in the simplest and fastest time. So I am going to share with you mobile banking security tips.

Every day new customers are registering for services like mobile banking services. There is a lot of risk with mobile banking as money can be transferred only by dialing a short code with the help of mobile PIN. Besides, transactions can be done through the mobile app. Here are some tips on things to keep in mind to stay safe in mobile banking services.

1. Keep PIN number secret

The first one is to keep your PIN SECRET. Never and ever share your password to anyone. Even with your family or friends. If you have more than one mobile banking account set a separate PIN number for each mobile banking account. Avoid telling anyone this pin number. Remember, someone who knows the pin number will be able to withdraw money from your mobile. So make not to disclose the password to anyone.

2. Beware of fake "customer care"

Only you should know the PIN number of your mobile banking account – no one else. Bank’s customer care will never ask for your PIN number. If anyone wants to know your mobile banking account PIN number or verification code by the false identity of customer care, then complain by calling the helpline of the respective banking service instead of providing PIN number.

3. Use your own SIM for registration

If your SIM registration is not correct, it may be closed at any time or taken away by someone else. Besides, the SIM can be lost. In these cases, if you have a valid SIM, you can easily pick up the SIM and use the mobile banking service. But if you do not get a SIM if you do not have the papers – then the money in the mobile banking account is more likely to not be refunded.

4. Beware of lottery, rewards

Many people may have heard, calling suddenly from a stranger number saying “you win a lottery worth $10 million, you will get money only if you provide some money to their number”, or many in the “Fraud” call to get money. Many people greedily send money on mobile. It’s not good to be overly greedy. So beware of these traps. Report the entire matter to law enforcement, including the fraudster’s phone number. Complain at the mobile banking service helpline. This is one of the today’s important thing on mobile banking security tips.

5. Avoid fake messages and fake calls!

Nowadays, using various online-based services, you can create phone numbers and send messages, even calls. They are very dangerous. If you just notice sometimes you’ll see you are getting message from the actual bank account but when you go to check your account then nothing. After a few minutes, they will call you that, someone sent some money to your account mistakenly. They will ask for back. So if you get these types of messages and call, do not respond. First, check your account if that is correct. Do not trust anyone until you check your own balance. If you are not sure then check your recent transaction through online service.

6. Verify before sending money to a number

Before sending the money to any mobile banking number, press the number in your hand (or call from the contact list) to make sure you send the money to the right person. The cloning of the phone number by fake duplication of fraudulent phone calls and money is happening. So when you get a call from a familiar number, you must dial the person’s number from your mobile phone to find out if he or she is actually asking for money. You will also notice the tone of the voice, the need, etc.

7. Transaction on your own account

Use your personal mobile banking to cash in on your own mobile, if cash out not require. This makes the calculation easier and also increases security.

8. Keep space for new message

Just leave enough space in the message inbox for new messages to arrive on the mobile. Many times the message box of the feature phone is filled, so there is no space for new messages to arrive. If this happens, the message of important transactions in mobile banking will not come. So keep space for new messages. You can save mobile banking messages by deleting various offers and other unnecessary messages from the mobile company, which may be useful in the future. However, it is important to keep in mind that no one else can see these messages. Because even if you look at the transaction details, there are many ways to cheat.

9. Remember the transactions

Mobile banking security tips also important in this case. Always remember how much money is deposited in your mobile banking account. May be useful in case of an emergency. For example, if you have a problem with customer care, they may want to know about the balance and the latest transaction (to be sure you are a real customer). But never ask for your PIN number in Customer Care. Information on mobile banking messages is also very sensitive. So keep them locked or hidden somewhere in the phone.

10. If the phone is lost…

If your mobile phone is lost, call your mobile banking helpline as soon as possible to ensure the security of your mobile banking account. If possible, turn on the SIM card PIN code security if possible so that when you turn on the phone you need a SIM PIN. Remember, turning on the SIM card PIN is a bit dangerous because if you forget the SIM PIN number (without a PIN code) you can no longer use your SIM card – you need to pick up a new SIM for the same mobile number. This will get the mobile number right back, but it will be a little hassle. So think twice before activating the SIM PIN code.

11. Enable OTP Service

Enable the OTP (One-time password) service of your mobile banking account. This will help you to make extra layer of security. When you want to send money to other account, there will be automated OTP or Short 4 to 6 Digit code sent to your registered phone. So this will help you lot to make sure if someone else going to spent money from your account. Talk to your Bank Service Provider if this is not enabled to you bank account.

12. Make a complex password or pin

Make sure to create a complex password as if no one can guess that. Also never use your favorite color, phone number digits, your name, your birthday as pin or password. This will be easy to guess to someone. So make sure to use the complex one. 

Bonus Tips: Clean your mobile usage history

Today’s smartphone has the feature to access the recent apps easily where you left. So this may create another risk if you do not delete/clean them. Suppose you just browse your mobile banking apps and you kept that just by clicking the home button. After that anyone can access your mobile banking apps from the history. So make sure to clean these. 

It is really tough to say you are in safe zone. So you just need to be aware while you are using a mobile phone for mobile banking purposes. Hope this mobile banking security tips will help you to get the idea. Share your thoughts on the implications of mobile banking. Thanks.

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