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3 ways to bank safely from your phone
02/11/2020Cellphone banking allows you to bank on-the-go, any time – but criminals are always looking for ways to scam you into giving them access to your cellphone. The good news is that if you're careful about a few key things, banking on your phone can be very safe.
Remember, what’s convenient for you could also be convenient for fraudsters if they’re able to get access to your phone. Here are 3 ways to help you bank safely on your phone, wherever you are.
- Lock it up
Make sure you have a password or screen lock activated on your cellphone (either a PIN or puzzle that will unlock your phone for use). If you use a PIN, make it something that won’t be too easy to guess. And if you use a pattern, make it a little complicated. And get into the habit of keeping your phone locked any time you are not using it. This will add protection if your phone ends up in the wrong hands.
- Be smart about your banking passwords
Just like your cellphone password, make sure the password for your banking app is not something that would be easy to guess. For example, don’t use your birthdate, which someone could easily find elsewhere.
Never write your PIN down, and never store it in your wallet or bag, or on your cellphone. Memorise it and don’t share it with anyone.
Be aware of what and who is around you when you access your banking app. Make sure no one can see your screen and your keypad as you enter your PIN. If you think your PIN code may no longer be secret, change the PIN immediately and contact your bank for help.
- Stay ahead of scammers
Never believe an SMS or email claiming to be from your bank that asks you to confirm personal details, banking information, PINs or a transaction. Your bank will never ask you for these details in this way.
If you receive a phone call requesting this information do not respond and end the call immediately.
Anyone can be a target for a scam, so look out for updates from your bank or warnings in the media about common scams and safety tips. For more information now, you can visit the South African Banking Risk Information Centre’s (SABRIC) website.
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