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Tips for secure mobile banking

The term “mobile banking” includes bank transactions carried out via a mobile browser or using mobile apps. One in seven smartphone users in Germany has already activated banking services on their smartphone.

Mobile banking apps fall into two different categories. The first includes mobile apps specific to particular banks, such as the Sparkasse group or Deutsche Bank. In most of these, the mobile apps provided by the banks are lagging behind users’ expectations.

The second category consists of modern banking apps, which you can use to manage your bank account in real time. The disadvantage here is that you have to share the access details for your bank account with the app provider. Especially with a banking app that provides complete access to your bank account, you should make sure you read users’ reviews of the app before you start to use it.

The N26 mobile app combines the security of a German bank account with the very latest mobile banking functionality. As far as security is concerned, there are no major differences between the security requirements for mobile banking and those for online banking. Nevertheless, you should still take into account our additional recommendations so that you can access your mobile banking services securely.

Lock your screen

We recommend making your smartphone more secure by adding a lock code, pattern or fingerprint. This helps make your banking app more secure, especially if you lose your smartphone.

Update your mobile operating system

We recommend that you regularly update the software on your smartphone. Manufacturers frequently issue software updates to protect against new safety defects.

Update your mobile banking apps update

Make sure you download banking apps, and any other apps for that matter, only from the official manufacturers’ stores (such as the App Store or Play Store). Be suspicious of any new unfamiliar apps. They can contain malware and facilitate access to sensitive details.

Be careful with WiFi and Bluetooth

We recommend that you disable publicly accessible WiFi connections and your device’s Bluetooth function before you make a mobile connection to your bank. Even if you’re using a private WiFi network, you should check that it’s secured by the WPA2 system.

Protect your passwords, PINs and TANs

Never save any bank-related passwords, usernames, PINs or TANs on your smartphone. If your phone is lost or becomes infected with malware, this will increase your risk of falling prey to cyber criminals.

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