How to Stay Safe When Using Mobile Banking Apps

Americans embraced mobile banking as their main account access more than any other method from 2017 to 2021, according to the Federal Deposit Insurance Corp.’s 2021 report on unbanked and underbanked households.

Even so, a new NerdWallet survey found that many people are hesitant to use mobile banking because of security concerns. More than 2 in 5 (42%) banking customers who don’t use mobile banking apps say they don’t trust the security of them as the reason.

Although those concerns aren’t unfounded, they don’t need to come between you and a successful mobile banking life. Here are steps you can take to ensure you’re as safe as possible when banking on your phone.

Install only trusted apps

Most mobile users are on Android or iOS, which both have app stores. For people with iPhones, it’s the Apple App Store, while Android users get the Google Play Store. These app stores are the go-to places for finding authentic, safe apps.

Apple’s vetting process for all the apps in its store…

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This article was written by Andrew Marder and originally published on www.nerdwallet.com