Keep Your Accounts Safe With These 5 Mobile Banking Tips

A 2023 Federal Deposit Insurance Corporation (FDIC) survey reported mobile banking was the preferred choice for close to half of American households, a nearly a nine-time increase over 10 years. Today’s technology makes your personal banking more convenient than ever before. But there are risks, and if you don’t know how to properly set up and use your banking apps, you could regret it. Follow these tips to keep your account safe:

Use More Secure Authentication

A username and password used to suffice, but many banks now require more secure login methods to protect your account. For example, they might text a temporary code or make you answer a security question. Banks also often let you use a fingerprint or show your face.

While it might seem like a hassle, requiring multiple steps can go a long way toward keeping other people out of your banking apps. See which options your bank allows and set them up. Plus, make sure the basics, like your password and security questions, aren’t easy for others to figure out. You also should be logging off when you’re done using these apps.

Set Up Alerts

You might already use banking alerts to watch your balances or learn about payments due. Most banks also offer real-time alerts for potentially fraudulent transactions or unauthorized access to your digital accounts. For example, U.S. Bank sends notifications about account information updates, suspicious login attempts and debit card and PIN changes…

Update Your Banking Apps Regularly

If you’ve held off on updating your mobile banking apps, you might be making it easier for hackers to take advantage of weaknesses so they can get into your accounts and steal your data. You might also miss out on new features and fixes that give you a better experience.

To stay safe, either set up automatic app updates for all apps or set a time to regularly check for and install banking app updates. Only use your phone’s official app store for this…

Be Careful Using Wireless Networks

Whether you’re at home or away, using mobile banking apps on wireless networks can make it easier for someone to get your credentials or monitor you. It’s especially a problem with public Wi-Fi networks that tend to lack good security features and have many people connected…

 Using Bluetooth could also lead to someone controlling your phone, snooping on your data and even installing bad software. Plus, hackers might hear calls between you and your financial institution if you use Bluetooth earbuds.

The Federal Trade Commission (FTC) recommends these practices to help prevent such issues:

• Avoid settings that automatically connect you to Wi-Fi networks.
• Consider using cellular data in public places to avoid public Wi-Fi.
• Use a virtual private network (VPN) when you can’t avoid public networks.
• Don’t leave Bluetooth on unless you’re using it — and operate in “hidden”
• Change your home network’s default settings and set up security features like encryption.

Watch Out for Mobile Banking Scams

Recent FTC data showed fraud cost Americans over $12.5 billion in 2024, and imposter schemes came out on top. It’s common for someone claiming to be your bank to text, call or email you with some request. They might say your mobile banking access is locked and ask you to confirm your login details, or they might trick you into clicking a link to download a fake app.

Following through might give the scammer what they need to get into your bank account or steal your identity, so know how to identify such schemes… Go straight to your bank if you suspect an imposter or account problem.

For more information and some general best practices to follow, you can read the full article here.

First Federal Bank is committed to security. Our mobile banking solutions offer the tools you need to keep your accounts safe, while enjoying the convenience of having access to your money on the go. Smart Alerts let you know the moment something important happens in your account. You choose which messages to receive and they are sent instantly via email, text, or by push notifications on your smartphone. You can bank with confidence!