These days, there are lots of mobile apps to help you manage your finances; however, you’ll need to strike the right balance between convenience and security. Here are some tips:
- For mobile banking, be sure to download the official app from your financial provider – they’ll usually feature their apps on their websites and link you to an app store for downloading.
- Use a passcode to protect your both phone and your financial data. Most financial apps will also require PINs before you can access your financial information. Don’t be tempted to disable this extra layer of security.
- Many apps will alert you to unusual activity in your bank accounts. Sign-up for these alerts and report any suspicious or fraudulent activity right away.
- Don’t use your financial apps in public places if you can avoid doing so – like the train or in a coffee shop – using public Wi-Fi may make you more vulnerable to hackers.
- If you lose your phone, contact your provider right away. In some cases, your phone can be wiped of information remotely so the thief can’t access it.
- Finally, be wary of any unexpected text or email messages you may receive about your financial accounts. Never reply to these messages with any of your account details. Instead, call your bank to confirm any recent activity.
The information on this page is provided for educational purposes only and is not tax, legal, financial planning or investment advice. Neither the information nor any opinion expressed in this section constitutes an offer to buy or sell any securities or advisory products. The information provided is general and is not information reasonably sufficient upon which to base an investment decision and should not be considered a recommendation to purchase or sell any particular security. You should not regard this information as a substitute for the exercise of your own judgment. Investing involves risk.