Mobile banking apps are a convenient way to stay on top of your money. Given the recent headlines, though, it’s natural to be concerned about security. More than half of mobile banking users reported security as their top concern, according to a recent survey by Jumio and Javelin Strategy and Research. With a few tweaks to your routine, though, you can safely enjoy the personal money management offered by mobile banking apps, including Card Valet by Arthur State Bank.
Mobile Banking App Security: Best Practices
When it comes to mobile banking app security, a lot of security best practices are common sense. They can also be a bit tedious in practice, though. For example, it’s tempting to use the same password for multiple applications. After all, it can be hard to remember them all (and challenging to remember where you wrote them down). It’s important to resist the temptation and consistently use unique passwords for every app.
Here are a few more mobile banking app best practices:
- Don’t click—We all know not to fall for poorly worded emails from foreign countries. Unfortunately, cyber scams are getting increasingly sophisticated. If you’re not sure whether a phone notification came from your mobile app, don’t click on it. Go directly to your app or visit the bank’s website and confirm whether the message was legitimate. The same goes for text messages.
- Don’t bank in public—Depositing a check through your bank’s mobile app is easy. To keep your account information secure, though, resist the urge to deposit it when you’re out and about. You never know when someone might be looking over your shoulder. Deposit mobile checks when you’re safely away from prying eyes.
- Know where your phone is—It’s easy to take your phone for granted. We use them so much, it seems like they’re always in our hands, and it’s easy to set it down without thinking too much about it. If you do this in a public space, though, it’s an easy target for thieves. All it takes is just a moment for someone to grab it off a table. If you’re not using your phone, stash it in a secure spot.
- Know how to find your phone—Your phone may come with location services that allow you to find it and wipe it remotely. Make sure you know how to use those services and your log-in information.
- Password protect your phone—It’s annoying, but it’s important. Keep a password lock on your phone and set it to something random. The extra seconds it takes to unlock your phone will pay off if it’s lost or stolen.
- Download with care—Although malware isn’t quite as prevalent on mobile apps as it is on traditional computers, it still exists. For example, keyloggers can track and transmit your keystrokes, revealing valuable information to cybercriminals. Be careful of what applications you download and only download from sources you know and trust.
Mobile banking apps allow you to do your banking without visiting a branch or making a phone call. With these steps, you can ensure that your information stays secure while you bank the way you prefer.
An App for the Security-Minded
Arthur State Bank takes their customer commitment seriously. To ensure you have safety and convenience, they offer CardValet.
CardValet is a unique mobile banking app that allows you to control your debit/credit card (and the debit/credit cards of anyone else linked to your account). With the app, you can:
- Turn your debit/credit card on or off—Whether you lose your debit/credit card, decide to leave it at home while you’re away, or for any other reason, you can instantly turn off your card. No one can use it until you turn it back on again.
- Set up alerts—Set alerts based on location, spending amounts, or merchant type. You can also set alerts for when your card is denied, which can help prevent potential fraud.
- Control family spending—You can set individual limits on each debit/credit card associated with your account. You can set limits by spending amount, spending location, and even by time of day.
- GPS limits—CardValet can use your mobile phone to limit transactions, based on GPS location. In other words, if someone tries to use your debit/credit card and they’re outside of the range you’ve specified, it won’t work, giving you additional security protection.
- Track account balances—You can see your account balances at a glance and control your spending. You can also find branches and ATMs if you need to make a quick deposit.
To start using CardValet, first visit the Google Play store or the Apple App Store. Download the app and follow the steps for secure registration. From there, manage your Arthur State Bank debit/credit card with just a few clicks.
Convenient Banking for a Secure Future
At Arthur State Bank, we combine modern technology with the security of working with a bank that’s been a South Carolina presence for nearly 80 years. We’ve weathered some of the toughest economic times our nation has experienced, and we’re still going strong. We offer convenient banking services and the resources you need to build a solid financial future. Contact us today to find out more about our resources for personal money management.