Banking on Your Phone: How To Secure Your Financial Data

A whopping 70 million cell phones are lost each year! It’s always better to be prepared before something bad happens. 

That’s why if you do any mobile banking, you need to be aware of how to keep your financial data secure and safe from being stolen.

Keep reading to learn how to keep your financial data safe when you use mobile banking.

Use Long and Memorable Passwords or Passphrases

It may be tougher to remember, but that just means your data is safer! There are also ways you can make a password or phrase that’s easy for you to remember. You can make up a sentence, then use the first letter of each sentence to make the password.

For example, if you made a phrase like, “I Have 3 Cats And They’re Named Oscar, Rufus, And Simon.”

That would make your password: IH3CATNORAS.

As long as you remember your passphrase, you’ll remember your secure password.

Have a Password to Unlock Your Phone

Having a password keeps your information safe from anyone who may come across your phone. Especially if it’s stolen, they won’t be able to take any more of your personal information.

It’s also a good idea to have cell insurance, so you don’t have to drop big bucks on getting a new phone if it is stolen.

Sign up for Credit Reports and Alerts

Use your current bank to sign up for credit monitoring and alerts. You can set up alerts to let you know when a purchase is being made over a certain amount or if your information is found on bad websites.

Setting these up is easy, but be sure to talk directly to your bank about it, so you know it’s a legit credit monitoring program.

Don’t Save Passwords or Card Information

If you save your passwords for easy login, you’re giving everyone who has access to your phone access to your banking. Please don’t save the password, and don’t give it out to anyone to make sure you have the safest mobile banking experience.

While it’s tempting to save our credit card information in online checkouts, don’t do this. You don’t want to be part of their data breach if they don’t have a secure account.

Pay Attention to Your Accounts

It’s always good to check your statements and make sure you bought everything that’s on there. Sometimes people don’t notice small amounts being charged until they actually look at their statements. Be sure to check yours monthly to be able to respond quickly enough to take action.

Keep Your Financial Data Safe Today

Now that you know how to keep your financial data safe, it’s time to take the steps needed to secure yourself. Start by resetting your mobile banking login information and ensuring your phone is secured with a password.

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