New era of mobile banking

Now we are entering into the new era of smart phones. Smart phones have become popular and more people have started to buy smart phones rather than traditional mobile phones.

Smart phones help people to do important work while they are out from their office or home, which includes an important activity of doing mobile banking from smart phones.

Many popular banks have started offering mobile banking, which gives ultimate flexibility for users to do banking transactions even while they are at a bus, train or even sitting on a car, etc.

Top three Precautionary measures before doing Mobile banking with your smart phone.

  1. Today’s smart phones are matching with PC’s except the screen size you cannot find much of a difference with smart phones. This is also like a PC, and it is also vulnerable to malware, spy ware  and virus. Even though banking sites have got stronger encryption and authentication strategies. It is always better from the user end to install a mobile security software to check whether there is a virus, malware or spy ware.
  2. Make sure you are connected with the internet, check other websites before entering into the mobile banking URL. Once the transaction is on the go, if the connection is lost while you are transferring  the money to someone, you will have confusion, whether you have transferred your money to the recipient or not. To avoid this confusion just check you have a stable Wireless internet connection.
  3. Never ever enter into mobile banking with your friend’s smart phone, because you never know about whether everything is perfect, although banks offer two factor authentication. Spy ware  which record keystrokes can really be a danger. Always avoid other’s smart phone for mobile banking.

These are general precautionary measures for operating mobile banking in smart phones.