Everywhere you look, somebody is on their cell phone, either talking, texting or browsing. The smartphone has become the must-have accessory for everyone.
Many banks have taken notice and made mobile banking a priority, offering personal online banking customers the ability to access their accounts from their mobile phones via mobile apps.
Also available is Text Banking, where customers get account information by texting a command to the bank. The bank immediately texts them back with the requested account balances, recent transactions or locations of ATMs or branches. No Internet access is required for Text Banking.
Mobile apps provide immediate access to view accounts and transactions, transfer funds, pay bills and locate ATMs and branches. Text Banking and the mobile app services are free, but check with your service provider for fees associated with text messaging.
Mobile banking offers convenience to the public as they are out in stores and malls, needing access to their accounts while making purchases. With this convenience comes an increased need to take precautions.
Rabobank helps protect against fraudsters by not displaying personal information or full account numbers at any time. Precautions should be taken, especially when using a smartphone.
Smartphones face the same risks computers do, such as viruses, malware and hacking. Smartphones often use public wireless hotspots which may or may not be secure. Unsecure spots are open invitations for hackers to use remote access and spy on user’s transactions.
The solutions to these problems are all common-sense approaches we should always practice:
• Use a secure Internet connection in a private location when banking or accessing sensitive information.
• Update the anti-virus and anti-spyware programs on your smartphone.
• Set your Bluetooth to the highest security setting available and disable it when not in use.
• If you get a suspicious text or e-mail, do not respond or click any of the links.
• Use PIN codes and any additional security measures offered by your phone or service provider.
Michael Drapeau is Rabobank, N.A. Vice President and Branch Manager in Murrieta. Rabobank, N.A. has nearly 120 retail branches in California, including Murrieta. Rabobank, N.A. is an Equal Housing Lender. www.rabobankamerica.com