How Secure is Mobile Banking?

  morddwyd 10:28 13 Dec 2015
Locked
Answered

Been on-line banking for several years with no problems, and I think (hope!) I'm up to most of the scams but I'm wondering whether to try the convenience of banking via smartphone.

Regardless of your personal feelings, how safe is it?

  Pine Man 10:36 13 Dec 2015

My view is that, technically, the phone is as safe as your computer. The only problem I can see is that your PC is unlikely to get lost and fall into the wrong hands;-)

  morddwyd 11:25 13 Dec 2015

Not entirely sure that Android is as secure as Windows, but I take your point!

  spuds 12:08 13 Dec 2015

I suppose everything is secure, until it gets hacked, then all the questions start being asked all over again.

  Forum Editor 12:13 13 Dec 2015
Answer

I use my phone to access my online banking accounts and have done so for a long time. In my opinion, it's just as secure as using a PC.

The only caveat is that I wouldn't dream of doing it in any situation where my phone was connecting to a public WiFi network such as in an airport or hotel, etc.

Huge numbers of people routinely use their phones in this way without any problem. I haven't set foot inside a bank for years, and I can't remember when I last had a paper statement. Phones are nowadays used for pretty well everything, and nearly all that traffic is going over the mobile networks. Apart from one or two notable exceptions, you don't hear about massive security breaches.

  morddwyd 16:49 13 Dec 2015

Thank you

  Bazzaman 18:06 13 Dec 2015

I've read somewhere recently that using the banks' own apps on mobile devices is (typically?) more secure than accessing via web browsers. This was on the basis that the banks put a lot of effort into making their apps secure, whereas with a web browser it's a lot more open.

Also a bank is going to be on more shaky ground if people lose money due to flaws in their own mobile app security.

Also my perception is that Android is more secure than Windows. However, I think one has to be a little bit concerned about the number of permissions that an awful lot of apps require, seemingly unrelated to the (main) function of the apps.

  Forum Editor 19:08 13 Dec 2015

Bazzaman

"However, I think one has to be a little bit concerned about the number of permissions that an awful lot of apps require, seemingly unrelated to the (main) function of the apps."

I agree. It worries me that so many apps say they need access to your contact list and your location when you can't see any reason why that should be necessary for what they do.

  BT 08:18 14 Dec 2015

I haven't set foot inside a bank for years, and I can't remember when I last had a paper statement.

I've used Online banking almost from when Barcalys first introduced it without any problems. I do however visit my local branch (Yes we still have one!) now and then when I need to pay in an occasional cheque, or speak to an advisor. I have a Premier Account and a so called Personal Manager which despite all the blurb seems impossible to contact by phone, and its so much easier to discuss things face to face.

Statements - I don't have regular ones (they are optional) but can print one out from online if required. They do send out an Annual summary.

  cruiser2 08:53 14 Dec 2015

I don't use mobile banking. I like going into my local branch and chatting to the staff. One said last week if I brought some mistletoe in I might get a kiss!! You can't do that with mobile banking.

  BT 12:28 14 Dec 2015

One said last week if I brought some mistletoe in I might get a kiss!!

Customer Service at its best!☺

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