Stay Secure With Mobile Banking Published April 11, 2017 Did you know that using your cell phone for mobile banking actually can be safer than banking online with a computer? The reason: Cell phones in the U.S. run on a variety of operating systems, making it tough for hackers to create malware or viruses that can target phones across different platforms. There are a few mobile schemes you should watch out for, though. Phishing (fraudulent emails) can occur with mobile Internet browsers. There's also smishing: Crooks send text messages, claiming to be from your financial institution, and request information such as your PIN (personal identification number) or account number. Be wary of storing any account information or logins on your device, you could be at risk for identity theft if your phone is lost or stolen. Stay safe by taking simple precautions with your phone: Steer clear of e-mails or text messages that claim to be from financial institutions and ask you to click on a link or provide sensitive account information. Maps and other legitimate financial institutions do not operate this way. Adding your financial institutions email addresses and phone numbers to your contacts can help alert you when a fraudulent contact is made. Set your phone so that a password is required to turn it on or access any of the apps and information. Don't allow mobile Internet browsers or applications to save your information such as passwords or credit card information. Log in manually and insert credit card information each time to protect your security if your phone is lost or stolen. Only download banking apps directly from your financial institution or from a reputable vendor, like iTunes. Reading reviews is a great way to discern whether it is secure app. If your phone has Bluetooth—a feature that allows mobile phones to communicate wirelessly—make sure you turn it off when you're not using it. This also extends your battery life. If you follow basic security measures, mobile banking can be a convenient and safe tool to manage your accounts.