6 Mobile Banking Tips To Keep Your Finances Safe in 2025
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A 2023 Federal Deposit Insurance Corporation (FDIC) survey reported that mobile banking was the main choice for close to half of American households. This was nearly a nine-time increase over 10 years.
It’s convenient to check your bank accounts and transfer cash anywhere from your phone. But it also comes with the risks that someone could mess with your money, scam you, or steal your identity if you don’t know about some best practices.
Consider these six mobile banking tips that can help keep your finances 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.
Check with your bank about its real-time alert options, which you’ll often find in the app’s “security” or “notifications” section. Your bank should have clear instructions and offer multiple alert methods.
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, as Ally Bank warned of imposter app update alerts that trick you into installing something malicious.
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.
According to Sunwest Bank, 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) recommended 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” mode.
- Change your home network’s default settings and set up security features like encryption.
Watch Out for Mobile Banking Scams
Recent FTC data showed that 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. Bank of America pointed out red flags like unusual or unrealistic requests, unsolicited contact and pressure to provide sensitive banking information. Go straight to your bank if you suspect an imposter or account problem.
Follow General Best Practices
Besides securing mobile banking apps, use your phone in ways that keep you safe in case you sell the device, you lose it, or someone steals it. Here are examples from Bluestone Bank:
- Use your phone’s lock feature so others can’t access your apps and information.
- Set up your phone’s location tracking and remote wipe features in case of theft.
- Follow your phone maker’s instructions to delete everything securely before you sell or hand down the device.
- Let your bank know if you’re missing your phone and change your login details.
- Avoid jailbreaking your phone since this can put your mobile banking data at risk.
- Don’t keep bank account numbers, PINs and other sensitive info on your phone.
