Our smartphones have become an essential part of our lives. It is difficult to imagine a life where you don’t consistently upload pictures on social media and search Google for answers. Even your banks are providing smartphone applications nowadays, so you don’t have to stand in a queue for hours.

You should be careful while using these applications. As your banks are dealing with your paychecks and even your life’s savings, you do not want to take a chance on their apps. Follow these simple tips and keep your money safe.

Download only authentic applications

Many apps pose as a bank’s official application and try to trick you to buy them. Though it is very uncommon in prominent app stores like the Apple Store and Google Play Store, you could get such apps on other stores.

These apps do not go through strict security scrutiny on third-party app stores. Therefore, some low-quality apps can easily infiltrate them. Make sure you download apps only from authentic app stores. Check who is the publisher of the app and read reviews about it too. Better safe than sorry.

Use antivirus apps

Always use antivirus apps on your smartphone. These apps can help you stay safe by blocking unnecessary access to your mobile and alerting you if problems exist. In fact, an antivirus is the first thing you should download on your phone before you bring in any applications.

Avoid downloading suspicious apps

Many apps, especially games, bring loads of malware and adware on your phone. It is highly likely that these apps will steal information from your phone. As your phone banking app is also downloaded on the same phone, data theft is possible. You could be a victim of a phishing attack before you know it.

Keep your phone banking username and password secret

We suggest that you use a username and password you don’t use anywhere else. Also, memorize these passwords so that you don’t have to write it down somewhere. If you believe that keeping the password in writing is essential, avoid storing the passwords digitally. Instead, write it down on a paper or a small notebook. This greatly reduces the chances of theft.

Never click on text links

Fraudsters may send you genuine-looking texts and emails with several links. When using a smartphone, you are slightly more vulnerable to divulging details about your bank account. These links are usually designed for phishing and they ask you to make payments, just as a test.

You may believe they are genuine and click on these links. Avoid doing so. At the slightest hint of suspicion, close and delete the email or text message. Better so, report it to the authorities. They will track down the perpetrators of these mails and messages.

Smartphone banking is easy and super-convenient as well. Make sure that you follow safe banking habits. Remember, if you do not have accurate security measures in place, a hacker will take away all your money and leave you with zero balance and guilt for a lifetime.